Magicbricks has unveiled its AI-powered Bank Recommendation Engine (BRE), a tool designed to assist customers in realizing their dream of owning a home by identifying the best home loan partners.
Leveraging the potential of advanced AI technology, the BRE scans and evaluates home loan products and offerings from over 40 financial institutions. This comprehensive analysis enables the tool to recommend the ideal home loan partner for prospective home-buyers. Over the past year, the tool has successfully assisted thousands of customers, showcasing an impressive accuracy rate of 90%.
The right BRE utilizes the power of AI to match each customer’s unique profile with the offerings of Magicbricks’ extensive network of home loan partners. By intelligently analyzing various parameters such as customer preferences, financial history, and loan requirements, the tool precisely identifies the most suitable home loan partnership for every individual.
Nimesh Bhandari, category head, home loans, Magicbricks, shared, “According to Magicbricks PropIndex Report (January -March 2023), the residential demand across 13 cities has experienced a growth of 14.3% YoY and is expected to continue increasing. With over 80% of homes being financed through home-loans, customers face the daunting task of sifting through numerous loan products available.”
Nimesh added “Our Bank Recommendation Engine boasts of an impressive accuracy score of 90%. Currently, our home loan advisors utilize this tool to assist customers on their home-buying journey. As the tool continues to evolve and advance, we aim to empower customers by making it a user-friendly DIY tool.”
