MPowered is designed to improve ease of use and maximise the benefits of proprietary AI tech. MPowered Mortgages has been launched as MQube’s own lending brand, facilitated on the MPowered platform with £2 billion in lending capacity for 2021/22.
MPowered Mortgages are launching into the non-regulated buy-to-let market, offering lending to individual, limited company and portfolio landlords at competitive rates.
Meanwhile, MQube is partnering with additional lenders and funders to provide a broad range of products on the MPowered platform, which deploys AI and deep learning technology to collate and analyse data for advisers and intermediaries.
The platform ensures fewer delays, less back-and-forth and a legally-binding decision in a meaningfully shorter timeframe.
An automated and intuitive application process means a faster process for advisers and ultimately customers.
The MPowered platform will be a springboard to wider AI usage amongst lenders and brokers, with MQube recently partnering with Mortgage Advice Bureau to provide AI applications across the UK mortgage market.
Stuart Cheetham CEO and co-founder at MQube, said: “Our MPowered platform has been designed with brokers in mind using cutting edge design and data-driven techniques to remove unnecessary, repetitive steps in the mortgage application process.
“MPowered works alongside brokers to give them more time to spend on the important stuff – customer advice and originating more business.
“We strongly believe in the importance of professional advice in the mortgage industry and emphasise the critical role of intermediaries in enabling better customer outcomes.
“Our view is that everyone in the mortgage ecosystem has a key role to play – the tools they use should be fit for the 21st century.
“This level of funding is a huge vote of confidence in MQube and for the potential of data-driven mortgages in the future. It is clear that lenders can see the untapped potential of Artificial Intelligence and Deep Learning in the sector in providing better outcomes for customers, advisers and intermediaries.”
