Business
Better.com launches Betsy™, the First Voice-Based AI Loan Assistant for the US Mortgage Industry
Betsy leverages true generative AI to enable Better’s Loan Officers to dramatically increase efficiency and customer satisfaction NEW YORK--(BUSINESS WIRE)--
About this update from Better Home & Finance Holding Company
[{"type":"text","content":"\nBetsy leverages true generative AI to enable Better’s Loan Officers to dramatically increase efficiency and customer satisfaction\n\n NEW YORK--(BUSINESS WIRE)--\nBetter Home & Finance Holding Company (NASDAQ: BETR) (“Better.com”), the leading digital homeownership company, today announced the launch of Betsy™, the first voice-based AI Loan Assistant for the US mortgage industry. As the latest innovation built through Tinman™, the company’s proprietary loan origination platform, Betsy enhances the operational efficiency of Better.com’s licensed Loan Officers, Processors and Closers and improves its customer experience with more intelligent, timely and accurate answers to customer inquiries on an instant basis.\n\nBetsy leverages AI and large language models (LLMs) to accelerate a customer’s entire mortgage journey from pre-approval start to closed loan. The platform is programmed to communicate with prospective and existing Better.com customers to answer mortgage application inquiries and to collect and verify outstanding application data, all while interfacing with Tinman™ in real-time. Uniquely, Tinman is a single, unified system where all relevant facts of a loan application are stored within one comprehensive data structure. This contrasts with traditional mortgage industry software, where information is spread across multiple systems and datasets such as Point of Sale, CRM, Loan Origination System, Document Management System, and Pricing Engine. Tinman’s centralized and context-rich data environment is organized in a hierarchical, tree-like structure that is easily understood by LLMs like Betsy. This allows her to access and interpret information with full context, enabling her to understand the nuances of each customer's loan application. As a result, Betsy can accurately answer questions in great detail and assist with outstanding tasks efficiently. The results enable faster service times, enhanced self-service capabilities, improved customer engagement, and greater sales efficiency.\n\n“This launch is a seismic moment for Better and the entire mortgage industry,” said Vishal Garg, CEO & Founder of Better.com. “Fulfilling a mortgage loan is labor-intensive and rules-driven, and Betsy serves as a highly intelligent front end enabling customers to automate the process with the full power of our proprietary loan engine, Ti...