Robo-advice  

Mortgage robo-adviser to complete applications in 15 minutes

“For brokers, we believe our digital network will empower them to develop their own business with a steady stream of high-quality, prequalified clients without the burden of endless back-office compliance.”

Ray Boulger, senior technical manager at London-based John Charcol, said: “In general, I think automating as much as possible of the back office processes, and in particular trying to link the initial fact-finding process with the decision in principle/application from broker through to lender, saves time and reduces risk.

"I am sure brokers will welcome a reduction in admin – that is not what brokers want to do. 

“But robo-advice can’t take into account soft facts. What the computer will never be able to do as well as a human is assimilate the soft facts – how important certain things are to the client. It is something that it will never be able to achieve as well as a human.”

simon.allin@ft.com