For an industry worth trillions, the mortgage sector still runs largely on manual data entry. This is more than a minor nuisance; it’s a bottleneck that is costing brokers time, money, and clients. But increasingly, customers are using Asteroid to eliminate this work.
Dozens of Portals, Hours of Data Entry
For a mortgage broker to provide a quote to a single client, they have to fill out applications across dozens of lenders. Each application can take up to an hour, with no API available. This isn’t just inefficient, it’s a major drain on time and resources. And in a market this competitive, speed wins. The brokerage with an automation advantage doesn’t just lead; it dominates.
Where Virtual Assistants Fall Short (and AI Succeeds)
Until now, to offload this huge amount of repetitive work, many brokers have hired administrative staff or Virtual Assistants (VAs). While this seems like a fix, it merely passes the bottleneck to someone else.
A VA can still only work on one application at a time. With over 250 banks globally, each with a completely different application process and back-end form, brokers are just passing the bottleneck along. Scaling up is difficult as it means hiring, training, and managing more people.
This isn’t a failure of the VA, but a limitation of the manual human process itself. But with Asteroid’s AI browser agents, automation is finally possible. Asteroid makes it possible to create a single, intelligent agent to automate applications across all of these forms.
How it works
Here is how it works: Using Asteroid’s secure credential vault, the AI agent opens up a broker’s client information platform (such as FactFind) and other various lender portals. It then intelligently goes through each mortgage application, taking any information it needs about the client from the broker’s system. Once it has finished the application, it returns the key information in a standard format, allowing for easy comparison.
The ROI: Speed, Capacity, and Focus
Our customers have already seen the results. By running hundreds of agents in parallel, they’ve increased their quoting capacity without needing any more staff, and now deliver their quotes faster than ever. Most importantly, the teams can now focus more time on consulting with clients and building relationships.
Questions?
- Will it work with my specific software? Yes. The beauty of AI agents is their adaptability. We already have them running on many industry standard platforms, and we have yet to encounter a piece of software our agents couldn’t navigate.
- Is it hard to set up? No. You create and direct the agents using simple, natural language instructions, the same way you would direct an employee or VA. And our team is on call to guide you through the onboarding process and get you set up.
- Is it secure? Yes. Asteroid uses its own secure, encrypted system to manage your credentials. This means that your agent will be able to log in to any required site securely and without the need for human input.
Ready to automate your mortgage workflows? Get started with Asteroid or book an onboarding demo.