Nivo has launched an off-the-shelf AI solution for mortgage brokers with prices starting from £1,000 per month.

The service is designed to allow advisers to integrate AI into their businesses without having to build it from scratch and has no minimum contract period or set-up costs.

Nivo Collect provides a virtual assistant that gathers info, checks documents and chases outstanding paperwork in order to support mortgage applications.

The AI assistant works with brokers’ existing email providers.

Advisers email a case and Nivo Collect starts collating information, running checks and chasing any missing evidence before returning a fully-packaged case ready for submission, the company says.

Nivo says its ready-made service means that firms can benefit from AI immediately without having to adopt a whole new system.

Unlike generic AI platforms, Nivo Collect has been designed specifically for regulated financial services.

It operates within each firm’s own secure environment, keeps customer data safe and never uses this to train AI models.

It also keeps a complete audit trail.

Nivo says brokers can have the service live within hours, with no set-up fee on minimum contract and prices start from £1,000 per month.

Nivo co-founder and chief commercial officer Matthew Elliott says: “Every broker is talking about AI, but most don’t want to become AI developers.

“They don’t want to build workflows, write prompts or stitch together different tools.

“They simply want AI to solve real operational problems.

“That’s exactly why we built Nivo Collect.

“We’ve taken one of the biggest administrative burdens in mortgage broking and turned it into an off-the-shelf service that firms can switch on in hours.

“Your brokerage gets its own AI assistant, working in your brand, over the email process you already use.

“It gathers documents, checks them, chases what’s missing and hands back a packaged case that’s ready for submission.

“It’s a quick and easy way of realising the immediate benefits of AI within your business.”