Finova Launches UK’s First Whole-of-Market AI Agent to Automate Mortgage Applications

Quick Summary

Finova has launched the UK's first whole-of-market AI agent designed to automate mortgage applications. By eliminating manual data re-keying across lender portals, the tool saves brokers 30 minutes per application, potentially reclaiming 4,000 working days monthly for the UK mortgage broking industry.

How Does the Finova AI Agent Solve Broker Inefficiency?

The whole-of-market AI agent addresses the primary bottleneck in the UK mortgage market: repetitive data entry. Currently, brokers must manually input client data into individual lender portals for every Decision in Principle (DIP). Finova’s technology allows data to flow directly from the broker's CRM into any UK lender portal with a single click.

• 30 minutes saved per mortgage application.
• 4,000 working days reclaimed monthly across the industry.
• Zero manual re-keying required for lender-specific fields.

By automating administrative tasks, the solution reduces human error and ensures that 37% of brokers who identified fact-find technology as a priority now have a viable solution to improve their workflow and productivity.

What Results Has Finova Delivered for the UK Mortgage Market?

Finova’s whole-of-market AI agent is built to handle the complexity of the UK lending landscape. The agent uses integrated password management to log into portals securely and can even request missing information from brokers via WhatsApp or Slack in real-time. This ensures the broker remains in control while the AI handles the heavy lifting.

• Supports over 60 banks and lenders.
• Manages nearly £50 billion in loans and savings.
• Services more than 650,000 UK borrower accounts.

This intelligent ecosystem directly addresses consumer frustrations, as 80% of homebuyers currently believe the process requires fundamental reform due to lengthy delays and manual paperwork.

FF NEWS TAKE:

Finova’s launch of a whole-of-market AI agent is a genuine needle-mover for the UK mortgage industry. While many firms talk about AI, Finova is delivering a practical application that solves a specific, high-friction pain point: the 30-minute re-keying slog. By freeing up 4,000 working days, this technology shifts the broker's role from data entry clerk back to expert advisor, significantly accelerating the future of lending.