What AI does
Copilot compares each client’s documents with your approved checklist, flags what is missing or unclear, drafts the follow-up email and drafts a factual file note. Processors and brokers check everything.
Practical AI for small and medium businesses
How a mortgage broking practice could save about $72,000 a year in staff time with AI
At a glance
The short version
What it costs
About $17,000 to set up and $910 a month to run with AI automation.
What it saves
Pays for itself in about 6 months, then about $71,880 a year in staff time, after running costs.
This is an illustrative example, not a past client project. It uses AI features the vendors document today and our cost model. Your own figures depend on your workload and costs.
What would it be worth for your team? Enter your team size and hours for a quick estimate.
Try the AI Savings and ROI calculatorStep by step
How AI helps
Today: A practice with 12–25 staff settling 15–25 loans a week, handling about 300 document-check, follow-up and file-note tasks a week. Processors check each document against the checklist, chase missing items and write file notes: about 20 minutes per task.
What AI does
- The broker approves a checklist for each loan type (for example PAYG, self-employed, refinance).
- Copilot reviews the client folder against the checklist and flags missing, out-of-date or unclear items.
- It drafts the follow-up request for the processor to edit and send.
- It drafts a factual file note for the broker or processor to check and save the same day.
Your team still
- Open every flagged document to confirm.
- Edit and send all client emails.
- Make every product recommendation, serviceability and credit decision.
- Verify income, expenses and identity as required.
Tools: Microsoft 365 Copilot, or your CRM’s AI. No Australian broker CRM yet has generally available AI document checking (it is in trial or planned at AFG and Connective). If you use MyCRM or Salestrekker, we configure their note-writing AI first. Your aggregator must approve any AI tool.
Two ways to do it
AI automation or an AI agent?
| AI automation | AI agent | |
|---|---|---|
| Tools | Microsoft 365 Copilot, or your CRM’s AI | ChatGPT dots (new, pilot first) |
| Set-up cost | $17,000 | $13,500 |
| Running cost a month | $910 | $1,050 |
| Pays for itself in | about 6 months | about 5 months |
| Value of time saved each year after that | $71,880 | $66,060 |
Our view: Only with aggregator approval and a privacy assessment. ChatGPT Business does not offer Australian data residency; Enterprise does, where dots are in beta.
AI automation
Pros
- Copilot works inside your Microsoft 365 controls
- MyCRM or Salestrekker AI may already be included
- Lower monthly cost
Cons
- No broker CRM has AI document checking generally available yet
- How well it reads scanned documents must be tested
AI agent
Pros
- Keeps track of files waiting on documents
- Cheaper to set up
Cons
- Needs aggregator approval and a privacy assessment
- ChatGPT Business does not store data in Australia
How an AI agent would do it
- The dot checks each new client upload against the broker’s checklist and records what is missing or unclear.
- It drafts the follow-up request and a factual file note.
- It keeps a daily list of files waiting on documents for the processor.
Not sure which option suits your mortgage broking practice? We can help you choose and plan a pilot.
Request a consultationBefore you decide
If the saving is smaller
If AI saves 25% less time than we assume, AI automation pays for itself in about 7 months and saves about $51,180 a year. These figures value every hour saved at the hourly cost, because your team can put the time into other work, such as more clients or fewer extra hours.
What we check first
- Aggregator approval and a privacy impact assessment.
- An updated privacy policy describing AI use.
- Your weekly task count and time per task.
- What your team will do with the time saved, such as more client work or fewer extra hours.
Not included: Product recommendations, serviceability, credit decisions, fraud and identity decisions, and lodgement.
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