MPowered Mortgages has announced that it has integrated ChatGPT technology into its internal chatbot tool on its mortgage origination platform.

The technology is being trialed with both the lender’s sales and underwriting teams on its ability to answer complex criteria-related enquiries.

ChatGPT offers the most advanced chatbot technology in the market based on artificial intelligence (AI). It is powered by large language models (LLMs), ChatGPT can understand natural language and generating detailed human-like responses.

MPowered revealed that its objective is to integrate the tool into its existing chatbot functionality which will be available to brokers soon. The lender has leveraged ChatGPT’s technology to build its own question and answer tool that is able to provide accurate responses to complex questions, built with an understanding of MPowered’s residential criteria and historic broker conversations.

ChatGPT-powered chatbot functionality will allow brokers to get an answer in an instant to some of the more complex criteria-related questions that standard chatbots available on other platforms are not able to answer.

MPowered Mortgages CEO, Stuart Cheetham, commented: “ChatGPT is at the cutting edge of chatbot technology, and perfectly augment's our own in-house proprietary AI which is already live in the market, and we’re delighted to be taking the first steps to test how we can integrate this into our processes, with the ultimate aim of delivering a more enhanced tool to brokers in the near future.

“AI will drive innovation in the mortgage market and MPowered Mortgages is at the forefront in deploying this technology to resolve real everyday problems.

“We hope in time it will both make their lives easier, but also improve customer journeys by getting immediate responses to live enquiries.”

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