Mortgage tech firm Twenty7tec acquires Broker Sense and Meet Parker
UK-based mortgage technology provider Twenty7tec has kicked off 2023 with two acquisitions.
Twenty7tec kicks off year with two acquisitions
The firm has acquired mortgage affordability platform Broker Sense as well as the remaining shares of digital engagement tool Meet Parker, both for an undisclosed sum.
Broker Sense helps mortgage advisers assess client affordability against lender rules, and ensure they recommend the correct lender. Its platform will be integrated into Source, Twenty7tec’s mortgage research module and will provide users with a single solution for product, criteria and affordability.
Twenty7tec CEO James Tucker says a “turbulent lending market” over the past few years has led advisors to look for platforms that efficiently provide up-to-date information for clients.
“At Twenty7tec we continue to invest in platforms that ease the day-to-day processes for these advisers and have conducted a thorough review of the numerous mortgage affordability tools that have recently come to market,” Tucker adds.
Users of the platform receive affordability results from nearly 100 mortgage lenders across both residential and buy to let sectors and the solution can also be integrated via an API into other systems.
Meet Parker helps companies convert leads, cross-sell additional policies and retain clients “through the power of artificial intelligence (AI)”.
Based in the UK and the Far East, the company offers a range of customer-facing solutions that utilise AI to engage customers, assessing questions before passing the customer onto an adviser.
Meet Parker’s solutions will be integrated into Twenty7tech’s Velocity platform, allowing advisers across both the wealth and mortgage markets to use AI to improve retention and increase lead generation. Freddie Savundra, founder of Meet Parker, says the deal will “transform how those working in the mortgage and wealth markets communicate with customers”.
The combined business brings together 120+ employees, with existing teams working from London and Bournemouth in the UK and in Asia Pacific.
Twety7tec is also in the process of developing a new offering – Communicate – an omni-channel marketing solution to help advisers retain existing clients.
In June, Twenty7tec acquired fellow UK fintech Bluecoat Software which was “set to revolutionise both the wealth and mortgage technology markets”.
