AI, open finance, smart data and emerging fraud risks are set to dominate the mortgage technology agenda. At the same time, the FCA says financial firms are closing more suspected money-mule accounts, with criminal funds often moved through multiple accounts before being cashed out.
For mortgage and protection firms, the opportunity is to use AI to reduce administration, triage documents, identify incomplete cases and spot unusual application patterns. The control challenge is equally important: firms need robust data governance, human review of high-risk alerts, clear audit trails and testing for bias or inaccurate outputs. Technology should strengthen Consumer Duty outcomes and fraud controls—not obscure accountability.