Twenty7Tec has invested an undisclosed amount in Meet Parker, a technology firm that has developed an artificial intelligence (AI) chatbot for the mortgage, insurance, and property sectors.

The Meet Parker chatbot will be integrated into the Twenty7Tec platform over the next 12 months.

As part of the investment, Phil Bailey, sales director of Twenty7Tec, will be seconded to Meet Parker in the role of managing director for a period of 15 months from 1 October 2021.

Niki Cooke and Nathan Reilly will take the positions of director of intermediary relationships and director of lender relationships at Twenty7Tec, respectively.

James Tucker, chief executive of Twenty7Tec, said: “Since we opened our doors in 2015, we have relentlessly pursued our mission to make mortgages simpler, faster, and more efficient, and our investment in Meet Parker will allow us to make gains in all three of these areas.

“These are exciting times for our mortgage industry, as technology advances allow us to better collaborate and innovate, and Phil and I in particular look forward to working closely with Freddie and the team at Meet Parker.”

Freddie Savundra, founder of Meet Parker, added “I’ve always been an admirer of Twenty7tec.

“We share the same goals and ethos of making markets more efficient and improving customer service.

“They’re clear in what they’re going to do and then they deliver.

“Our ambition is to apply augmented intelligence technology to every stage of the property buying journey, from helping buyers find the right property, to escalating complex enquiries that fall out of traditional criteria to the right team at the right lender.

“We’re at the foothills of something genuinely very exciting, and our long-term partnership with Twenty7Tec means we are working alongside the very best in class.”