Monday 11th December 2023, LONDON — Fintech mortgage lender Gen H has announced the launch of an innovative AI-powered packaging tool, built on Google Cloud, that automatically analyses and categorises documents required for mortgage applications. Gen H is one of the first mortgage lenders in the UK to be collaborating directly with Google Cloud to streamline the application process.
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 – all without any back and forth with the underwriter. This system will save crucial 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 – an exclusive group of 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.
“It’s just another way of making life easier, saving time … [it’s] definitely going to get a good reception,” shared Perry Graves, Senior Mortgage Broker from Tembo.
This is just the first launch in the lender’s forthcoming suite of application improvements as Gen H continues to work on delivering real-time packaging feedback and instant income verification. These features are on schedule for implementation in January 2024, setting Gen H and its broker partners up for a year of growth, scalability, and exceptional customer outcomes.
Gen H was founded to unlock homeownership for more aspiring buyers through the innovative application of new technology. This mission includes streamlining the end-to-end homebuying process to make it simple, transparent and fair.
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.’
Since its launch to intermediaries in 2021, Gen H has built out a series of market-leading tools for their partners including their affordability calculator, criteria centre and Gen H Pro, their slick submissions and case management tool.
Gen H Chief Commercial Officer Pete Dockar said, “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.”