ElevenLabs & Better.com have recently demonstrated the huge success of their AI Loan Agent, Betsy, in the financial services industry. The sophisticated voice assistant is currently handling close to 100,000 mortgage-related calls monthly. As a result, the partnership has automated more than 35% of the borrowers’ inquiries end-to-end. Better.com developed Betsy on top of its proprietary Tinman loan engine to simplify the home-buying process. The AI-powered system utilizes ElevenLabs’ realistic voice solution to provide borrowers with 24/7 assistance. This has enabled human experts to concentrate on high-level advisory roles instead of follow-up tasks.
“We built Better to be AI-native from day one. By combining Tinman® with ElevenLabs’ technology, we’ve scaled the first voice-based AI loan agent built exclusively for the mortgage industry,” said Vishal Garg, Founder and CEO of Better.com. “AI-voice automation through Betsy™ has allowed us to move routine customer interactions out of manual workflows, helping us reduce the cost to originate while offering borrowers immediate and 24/7 support.”
Driving Efficiency and Cost Savings in Mortgage Operations
The integration has brought about tangible economic benefits to the mortgage sector. In particular, Better.com has witnessed a 41% decrease in the average origination cost. Additionally, the company has experienced a 100% increase in lead-to-lock conversions over the course of the year. These enhancements enable the lender to provide more competitive interest rates to its customers. ElevenLabs is the backbone that enables such high-volume financial transactions. Overall, this collaboration marks the beginning of a new standard in the application of generative AI to regulated sectors.
“Supporting nearly 100,000 borrower interactions a month in a highly regulated space like mortgage requires more than a great voice model,” said Lauren Rothwell, Head of Agents Growth at ElevenLabs. “It requires reliability, accuracy, and full compliance – and that’s exactly what ElevenAgents is built to deliver. We’re proud to partner with Better to power a sophisticated AI agent that’s transforming financial services.”
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News Source: Businesswire.com
