LendInvest has launched a new Mortgage Tech Meetup event series, which will be bringing property industry and technology specialists together to discuss the future of mortgage technology.
The event series’ inaugural session focused on key trends in Mortgage Technology in 2023 and the Future of Lending.
Speakers at the event included Orla Shields, CEO and co-founder of Kamma; Justus Brown, founder and CEO of Acre and Peter Wallis, VP of technology at LendInvest.
The discussion centred around the state of the mortgage process, and growth in technology adoption over the last five years, the difficulty with pulling property data from government sources, and the role of AI, machine learning and Chat GPT in the mortgage industry.
On the traditional mortgage process, Peter Wallis said: “It’s disappointing to see the mortgage industry lagging behind other sectors, and be so laden with friction and manual steps. Looking to remove all of those points of friction, using digital enablement, not only helps the broker and customer, but drives operational leverage.”
On the topic of upcoming Consumer Duty, Justus Brown commented: “Building a system that presents brokers with the right information enables brokers to have the right types of conversation. Not only does this deliver a superior customer experience, but also prevents harm coming to that customer… and that is what is especially rewarding.”
On the current state of property data Orla Shields said: “Property data is a minefield, which offers a huge opportunity for disruptors in the market right now. Having APIs on the lender side would be especially useful here.”
The next Mortgage Tech Meetup is scheduled for 28 June, with speakers to be announced in due course.