LendWell lands SPF Private Clients deal – Mortgage Strategy

AI mortgage technology company LendWell has signed a multi-year agreement with SPF Private Clients (SPF).

LendWell is working with SPF to implement the platform around its operating model, systems and requirements across mortgage and protection. LendWell will put AI to work across SPF’s mortgage and protection journeys, using the context of each case to prepare documentation, manage follow-up and coordinate the work needed to progress it to submission.

Rather than bolt AI onto an existing process, LendWell connects the information in a mortgage case with the evidence behind it, giving its AI the context to carry out specific work for advisers to review.

Professional judgement stays with the adviser, while more of the work around that judgement can be handled by the technology.

 Commenting on LendWell co-founder Jamie Lawless said:“Mortgage technology has spent years digitising processes, but digitising manual work isn’t the same as removing it. Too much mortgage expertise is still consumed by administration. We believe the next step is to put AI to work on the mortgage case itself, taking on more of that work rather than simply giving advisers another tool to use.

That’s what we’re building LendWell to change.

“The aim isn’t to replace professional judgement, it’s to make better use of it. By reducing the work around that judgement, mortgage businesses can create more capacity to grow and advisers can spend more time with their clients. The opportunity is to take work off advisers’ desks by extracting information from documents, calls and other communications, linking it to supporting evidence and progressing cases more efficiently.”

He added: “With SPF, we are building that capability around the way its teams operate, so more of their expertise can be focused on serving clients and growing the business. We’re looking forward to working together to put that approach into practice.”