Rocket Mortgage launched a new AI-driven technology for analyzing calls.
Rocket Logic – Synopsis can listen to, transcribe, and search client calls, then analyze the sentiment, recording the patterns and preferences of the caller, according to a press release.
This innovation allows Rocket to create “bespoke experiences” for both current and potential borrowers.
“Rocket Logic unlocked the transformative power of AI to begin streamlining and modernizing the homebuying process. Now, with Rocket Logic – Synopsis, we have harnessed generative AI to create a tool that both anticipates and solves clients’ needs, effectively changing the future of homeownership,” said Varun Krishna, CEO of Rocket Companies and Rocket Mortgage.
The tool is active for calls to Rocket’s client experience teams, including loans from mortgage brokers working with Rocket Pro TPO.
Rocket’s servicing team will save nearly 40,000 hours a year using the technology. In 2023, they facilitated 3.1 million calls with clients for the 2.5 million loans it services, mostly related to payments and escrow.
About 70% of calls and chats are fully automated, part of Rocket’s goal to increase its AI presence.
Rocket Logic – Synopsis was built on Amazon Web Services and uses Amazon Bedrock.
“Technology innovation is all about taking on the undifferentiated heavy lifting, enabling businesses to focus on problem-solving and enhancing customer experiences,” said Werner Vogels, Chief Technology Officer at Amazon.
“This approach reallocates routine tasks to AI systems, empowering teams to devise tailored, impactful solutions that simplify the historically complex homeownership journey.”
Rocket ultimately wants Synoposis to help team members understand homeowners’ communication habits and preferences.
Rocket Logic rolled out earlier this month and processes insights from proprietary data and call transcripts to speed up the lending process for buyers.
Company leaders at Rocket say they will unveil additional products built on the Rocket Logic platform in the coming year, including offerings for external partners.
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