Better.com originally used a speech-to-speech model but switched to a modular system that includes speech-to-text, text-to-speech and a large language model for faster, more reliable service.
ElevenLabs Agents act as a regulated interface, communicating loan eligibility, rates and approvals from Better.com’s proprietary loan engine, Tinman, while complying with legal requirements.
“By combining Tinman with ElevenLabs technology, we’ve delivered the first AI loan agent built exclusively for the real estate industry,” said Vishal Garg, co-founder and CEO of Better.com, in a statement. “AI-voice automation through Betsy has allowed us to eliminate traditional customer interactions without manual workflows, which helps us reduce startup costs while providing borrowers with immediate and 24/7 support.”
A case study found that AI voice automation delivered a 41% reduction in typical startup costs and doubled lead-to-lock conversions by 2025. The best part is that the efficiency of the operation has also allowed it to offer very competitive prices.
“Supporting nearly 100,000 borrower interactions per month in a highly regulated environment like mortgages requires more than a good voice model,” said Lauren Rothwell, head of agent growth at ElevenLabs. “It requires reliability, precision, and full compliance – and that’s exactly what ElevenLabs is designed to deliver.”
The AI system frees Better.com’s licensed consultants to focus on complex borrower situations, allowing the company to scale service without compromising compliance.
“Introducing Betsy as an AI loan agent has helped our customers click and close after business hours, or when loan officers can’t get a call,” said Garg. HousingWire. “Betsy is much more than an AI appointment AI or an AI voice bot that exists to connect borrowers with a human representative: A sophisticated, full-featured AI loan officer, processor, underwriter and near future, and only available at Tinman.”
Garg said that beyond the measurable impact of Betsy revealed in the ElevenLabs case study, Betsy is able to perform calculations and can quickly make suggestions on how to increase prices on more than 26,000 products and investor approvals.
“When a borrower is ready to speak with a personal loan officer, he is able to recall everything the borrower has discussed with Better’s sales and ops team and provides a full context of the borrower’s interactions across channels, pending transactions, and completed transactions based on his memory,” says Garg. “Borrowers will never waste time re-sharing or repeating information about Betsy.
“We launched Betsy in October 2024, which means it’s been in production for a little over a year, and we already believe it has the ability to compete with the lowest-yielding lenders across the industry. As we continue to iterate, Betsy is getting faster and smarter, and I’m excited to see how it will continue to improve its performance over the next two years.”
