Fintech Cenatorium has boasted the implementation of its automated property valuation solution at mBank. The bank uses the tool in the mortgage lending process.

The solution called AVM Cenatorium (Automated Valuation Model) allows the value of residential premises to be estimated instantly. Using the property data it has, it calculates the value of the premises based on, among other things, an analysis of the location, market conditions, and information characterizing the property being valued and comparative properties. As Cenatorium assures, the tool is based on Poland's largest database of transactions. The system uses an advanced machine learning model.

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AVM Cenatorium streamlines the work of analysts assessing customers' loan applications. The automatic valuation of properties reduces the time it takes to analyze applications and speeds up issuing a credit decision. Thanks to the tool, there is no need to involve appraisers in standard cases. Among its advantages, its developers also point to the reliability and consistency of the valuations - the solution is based on a wide range of market data, ensuring repeatability and transparency of the results. With its help, the bank can also quickly assess the value of its collateral portfolio as part of its ongoing monitoring of credit risk.

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The importance of this type of solution is growing in an era of increasing digitalization of the credit-granting process. In this context, it is worth mentioning that the president of mBank announced last year that the institution he heads intends to introduce the so-called digital mortgage, i.e. the possibility of concluding mortgage loan agreements remotely. The first and so far only bank to have implemented this type of solution for some of its customers is PKO BP. But Wojciech Sobieraj also revealed his plans in this respect, presenting his vision for developing the Vodeno platform he manages.