Artificial intelligence tends to be a buzzword in the mortgage industry, making it difficult to decipher which fintech providers truly maximize the power of AI. Tavant’s suite of AI-powered digital lending products optimizes the back-office, simplifies the mid-office and transforms the front-end consumer experience into an efficient digital data flow — unleashing the true capabilities of AI and reducing origination costs by 35%. 

“What sets us apart from other fintech providers is our ongoing commitment to strategically reinvest 15% of our annual revenues to enhance the VELOX platform, ensuring that it continues to meet evolving customer marketplace expectations and demands while delivering the highest impact and business value,” said Tavant CRO Hassan Rashid. 

Recently, Tavant launched an enhanced version of its FinSight Retention Intelligence product. FinSight, a component of the Tavant VELOX platform, is a suite of predictive insights engines powered by AI and machine learning capabilities. FinSight Retention Intelligence allows lenders and servicers to predict and manage portfolio churn and focus on customer retention, reducing the amount of marketing touches by 50%. 

Additionally, the company expanded the VELOX platform to address the home equity line of business. The VELOX suite of products for home equity enables a seamless digital experience across the application process that cuts down the time to decision and the time to fund significantly.

Overall, VELOX optimizes the digital engagement to deliver a fluid experience to customers and maximizes the use of data-driven processes. It further enhances the loan application intake through the retail, broker and correspondent channels, improving operations productivity and reducing loan cycle times while increasing overall profitability. The platform delivers a cohesive solution that enables customer acquisition, predicts conversion, helps borrowers with self-service pre-approvals and enables straight through processing leading to initial underwriting.  

Tavant VELOX features  these modules:

  • FinXperience: POS solution that provides a simplified digital experience
  • FinLeads: A Salesforce-based customer engagement and acquisition platform
  • FinConnect: An enterprise service bus  and an intelligent lending data and services network that integrates with more than 120 ecosystem partners 
  • FinSight: A suite of predictive engines that deliver actionable insights based on deep learning models
  • FinRules: A single-click AUS platform that provides a side-by-side comparison of the GSE guidelines and recommends a path for best execution

“The lack of visibility into the sales pipeline, multiple lead providers and disparate data sources constrain the organization. We have increased our operational efficiencies and improved our loan officers’ productivity with Tavant FinLeads’ omnichannel customer engagement functionality coupled with powerful Salesforce capabilities,” said VELOX user and NewRez Chief Marketing Officer David Haggert.

 “Onboarding to FinLeads helped us gain an integrated view of pipelines across our office locations nationwide, enabling us to improve sales productivity and increase per LO application rate by 30% in the first three months.” 

PRODUCT: Tavant VELOX

SNAPSHOT: Tavant VELOX is the leading AI-powered digital lending product suite. Maximizing data-driven processes, the platform automates the loan origination lifecycle and seamlessly integrates with the existing loan origination solution. With VELOX, lenders provide a superior borrower experience, digitally transforming the home-buying process from the initial home discovery search to the final loan funding phase.