Gatehouse Bank has launched a new partnership with AI-powered surveyor expertise platform, Finvise.

The launch comes after a three-month pilot programme with the platform, which is the first AI-powered valuation company to be regulated by the Royal Institution of Chartered Surveyors (RICS).

Rather than working as an automated valuation model, Finvise is a hybrid valuation platform, using AI technology, but overseen, reviewed and signed off by a RICS surveyor, providing reports while still achieving faster results for customers.

During the pilot phase, Gatehouse Bank observed a marked improvement in the customer journey, with turnaround times reducing by up to 600% during the valuation process.

As an integrated part of Gatehouse Bank’s offering, the platform can be used for property valuations to support home purchase plan and buy-to-let applications from UK customers looking to buy or refinance a property valued up to £1m with a FTV up to 75% for property purchases and 80% for refinancing.

Chief operating officer at Gatehouse Bank, Tracey Bailey, stated: "We know how important it is for customers to receive accurate, efficient and speedy property valuations during the homebuying process, without compromising on high standards of customer service and confidence.

"We are delighted that our pilot programme with Finvise has been so successful in helping us to provide an enhanced service to our home finance customers and that we are now in a position to integrate this into our valuation process more widely."

Finvise’s co-founder, Hayley Lemm, added: "We recognise the benefits of integrating AI with human expertise and are very pleased to be working with Gatehouse Bank to ensure their home finance valuation systems are set up for success and for the future of innovation in financial decision-making.

"We can’t wait to grow the partnership and support the team in their mission to provide Shariah-compliant home finance products that suit the needs of customers across the UK."

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