MortgagX, an AI-powered end-to-end mortgage advisory solution for brokers and customers, has expanded its platform capabilities for banks and lenders.

The latest update includes features such as a comprehensive knowledge base for different bank criteria and smart underwriting capabilities.

The platform’s new X-Plore tool is an advanced speech-based AI assistant that provides access to mortgage and criteria information. The hub acts as a single access point for both brokers and customers to review detailed bank criteria.

MortgagX has also introduced Source & Connect Direct, which is a solution that connects clients directly with lenders.

The update will see the roll out of MX Decision Engine. The tool uses bank criteria to conduct essential checks, verify property information, and confirm income details.

The platform will also host an Underwriting with a Different Perspective solution which reimagines traditional underwriting by incorporating unconventional data points, such as mobile phone usage, credit card bills, and income-expenditure patterns.

MortgagX says this aims to function as a wrapper around existing underwriting systems and has been designed to integrate with a bank’s infrastructure.

The platform will also include MMX Bespoke, which aims to address “unique challenges” faced by financial institutions.

MMX Bespoke allows lenders to pick and choose what features they need to meet their specific requirements.