A former broker has launched an AI-based tech platform that automates the repricing and refinancing process for brokers, in a bid to help free up time and save clients money.

Adam Grocke, the former director and broker at South Australian-based financial services company Johnston Grocke, has launched a tech platform that aims to automate the repricing and refinancing process for brokers.

Sherlok is a new AI-based platform that can ‘read’ a broker’s trail book (by utilising similar technology to screen-scraping platforms) to detect refinancing and home loan repricing leads.

It utilises a predictive algorithm that calculates the borrower’s rate (reportedly to within 0.1 per cent) and is looking to develop an option that will enable clients to permit Sherlok to track their rate through their online banking portal.