Unveils AI-Powered Bank Recommendation Engine
Mahgicbricks says with over 80% of residential units being financed through home-loans, customers face the daunting task of sifting through numerous loan products
HYDERABAD, June 13 (The CONNECT) – Real estate platform Magicbricks, has unveiled its AI-powered Bank Recommendation Engine (BRE), a cutting-edge tool designed to assist customers in realizing their dream of owning a home by identifying the best home loan partners.
BRE scans and evaluates home loan products and offerings from over 40 renowned financial institutions. Over the past year, the tool has successfully assisted thousands of customers, showcasing an impressive accuracy rate of 90%.
Nimesh Bhandari, Category Head- Home Loans, Magicbricks said 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 residential units being financed through home-loans, customers face the daunting task of sifting through numerous loan products available. Recognizing these challenges, Magicbricks has developed its proprietary Bank Recommendation Engine, which streamlines the selection process and provides personalized recommendations with exceptional accuracy to customers, he said.
“Our Bank Recommendation Engine boasts of an impressive accuracy score of 90%, ensuring that Magicbricks’ recommendations and processes are not only accurate but also efficient and scalable. Currently, our Home Loan advisors extensively 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,” Bhandari added.
