Gen H has announced the launch of an AI-powered packaging tool, built on Google Cloud, that automatically analyses and categorises documents required for mortgage applications.
The new tool allows brokers to provide and review all of their client’s documents in one go. The system will automatically sort the documents, package the case and give feedback to the broker if it identifies any problems.
The lender claims its new system will save time for brokers and underwriters, getting an offer to broker clients sooner and laying the groundwork for full automatic income verification.
Gen H launched this tool to its Club – its priority broker partners – two weeks ago to collate feedback before rolling it out to their full intermediary panel totalling more than 15,000 brokers across England and Wales.
Adrian Poole, director, digital natives UKI, Google Cloud, said: “By utilising Google Cloud’s AI tools and technologies, Gen H will ultimately unlock homeownership for more people in the UK, ensuring a straightforward, transparent, and equitable borrowing journey.”
Pete Dockar, Gen H chief commercial officer, added: “It’s important we give our partners the tools required to provide certainty, sooner to customers. It’s also important that we utilise technology to deliver better outcomes for customers. We hear how difficult it can be to work with other lenders, so we welcome collaboration with partners such as Google Cloud and Experian to drive this technology forward for the better. We’re excited to roll out to our entire panel and announce additional features very soon.”
One the Club broker members who piloted the tool, said: “It’s just another way of making life easier, saving time … [it’s] definitely going to get a good reception.”