The use of tech in the current mortgage application process is disjointed and siloed. Borrowers, loan officers, and the corresponding processors and underwriters are often working on entirely different systems. Meanwhile, borrower’s real estate agents, brokers, and financial advisers may not even have access to those systems, preventing them from supporting their clients through what is typically the largest financial transaction of their lifetime.
With FinXperience, Tavant brings all parties together on one collaboration platform and provides hyper-personalized digital journeys to borrowers, loan officers, brokers, financial advisers and other participants in the lending ecosystem. The platform is loan origination system-agnostic and is designed to deliver value to both borrowers and lenders–”from the point of thought of buying a house to the point of owning a home.”
“Most of our competitors have offerings that coerce the lender to follow a pre-determined and inflexible customer journey since their architectures provide for limited flexibility on the user experience front,” Chief Revenue Officer Hassan Rashid said. “The flexibility of FinXperience allows lenders to create an extremely differentiated experience from other lenders, as well as a hyper-personalized experience across their customer segments. There are no cookie cutters here.”
As a white-label solution, the FinXperience platform is highly customizable and configurable, with the ability to align with a lender’s specific branding and marketing differentiators and customer segmentation. The platform’s features, functionality, and volume-handling capabilities are scalable with the lender’s growth in the market.
“With our VELOX platform, we helped our lender clients not only grow but also improve borrower/loan officer collaboration and close more loans faster. Our clients grew 117% YoY for the period (first half of 2021), improved their conversion by 64%, and reduced cycle times by 52% across purchases and refinances while improving loan officer productivity by 29%,” said Abhinav Asthana, Head of Tavant’s Fintech Products Business & Growth.
“How did we achieve it? Our data-driven ecosystem that plugs into over 130 data and third-party service partners hyper-personalizes your borrowers’ experience, augments your business processes with hybrid workflows – leveraging humans and machines, and enables your loan officers to serve your borrowers better,” added Asthana.
FinXperience integrates through a bi-directional framework with its surrounding systems, including CRM platforms, pricing engines, document management systems, and LOS. This integration allows all participants in the process to interact with and access loan data in a true, real-time manner.
“Tavant’s user journey and persona mapping for every party within the mortgage transaction leads to an optimal workspace for each user. The UX is friendly and intuitive, providing the most productive and efficient interaction coupled with bi-directional real-time data directly from the LOS based on security and data access rights,” said Mohammad Rashid, Head of Fintech Practice.
He further commented, “Our alignment with digital transformation strategies across the home loan journey and our injection of AI/ML techniques along the way reduces the cost of originating mortgages through scaled automation opportunities at every junction.”
Hassan Rashid, Chief Revenue Officer
Hassan Rashid steers Tavant’s strategy for continued profitable revenue growth, supported by a fully aligned business development engine.
Mohammad Rashid, Head of Fintech Practice
Mohammad Rashid is responsible for driving innovation, strategy, offerings, and revenue of Tavant’s market-leading fintech business
Abhinav Asthana, Head of Fintech Products Business
Abhinav Asthana is responsible for the overall innovation, go-to-market, and product management strategies for Tavant VΞLOX.