Adam Grocke
Founder
S
Sherlok
The startup offers a retention and refinancing platform that utilizes AI and machine learning to identify clients at risk of leaving a mortgage broker's loan book. By enabling single-click refinancing and lowering interest rates, the platform enhances client retention and supports loan book growth while preventing clawback commissions.
- Artificial Intelligence
- Enterprise Software
- Financial Technology
- Software Only
Updated 5 months ago
Funding
Raised to date
$3.4MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Funding rounds are not available yet.
Founders
Product
Problem
Mortgage brokers face challenges in retaining existing clients due to fluctuating interest rates and competitive refinancing options, leading to potential loss of trail book revenue and increased costs associated with acquiring new clients. Manually monitoring client loan rates and identifying at-risk clients is time-consuming and inefficient.
Solution
Sherlok offers an AI-powered retention and refinancing platform designed to automate client retention for mortgage brokers. The platform uses RateTraker to monitor clients' interest rates and predict which loans are at risk of churn. Sherlok then automates the repricing process with the current lender, and if further savings are available, it generates refinance leads with an instant comparison tool. By automating these processes, Sherlok enables brokers to proactively retain clients, grow their loan books, and reduce the risk of clawback commissions.
Target Audience
The primary target audience includes mortgage brokers, ranging from individual brokers to larger brokerages and aggregators, seeking to improve client retention and grow their loan books.
Features
- AI-powered prediction of clients at risk of leaving, using a "Sherlok Retention Score"
- Automated repricing of loans with existing lenders to secure lower interest rates
- Instant Refi comparison to identify and generate refinance leads
- RateTraker tool for 24/7 monitoring of client interest rates via open banking
- Pre-filled Third Party Authority forms sent to clients for streamlined repricing
- Ready-to-send SMS and email templates for client communication
- Orphan book repricing for inactive broker loans
- Secure data encryption and Australian-based server storage