British mortgage technology firm Twenty7Tec has acquired AI-based digital engagement specialist Meet Parker for an undisclosed sum.
The deal comes 18 months after Twenty7tec first invested in Meet Parker, which has developed a chatbot for the mortgage, insurance, and property sectors.
With offices in the UK and the Far East, Meet Parker's AI-based technology is used by firms to ask triaging questions to customers before ultimately passing them onto qualified advisers. The company has also been developing an omni channel marketing tool to help advisers stay in touch with, and retain, their existing clients.
Twenty7tec plans to deeply integrate all of Meet Parker’s tools into its Velocity platform, allowing advisers across both the wealth and mortgage markets to use AI to both improve retention and increase lead generation.
The deal marks Twenty7tec's second acquisition of the year, coming days after it bought mortgage affordability platform Broker Sense. The firm now has more than 120 employees.
James Tucker, CEO, Twenty7tec, says: "This move will allow advisers to digitise the lead generation and new client onboarding parts of their business, as well as drive higher levels of retention. It is another step forwards in our plans to revolutionise the mortgage and wealth advice markets."