— The modern mortgage and data services hub processes 71% more transactions in March —
SANTA CLARA, Calif.–(BUSINESS WIRE)–#FinConnect—Tavant, a Silicon Valley-based provider of AI-powered digital lending technologies, today announced its FinConnect platform, an intelligent lending data and enterprise mortgage services integration hub, successfully processed more than 10 million digital mortgage transactions in the past 12 months. Additionally, in March 2020, FinConnect processed more than 1.5 million transactions, representing a 71% increase from the previous month, further demonstrating the platform’s ability to scale and adapt to rapidly changing market conditions.
FinConnect is a component of Tavant’s AI-powered digital lending suite of products, VΞLOX, that seamlessly connects the internal and external systems of the mortgage ecosystem, enabling an end-to-end, seamless digital mortgage experience.
Tavant’s Chief Revenue Officer, Hassan Rashid said, “We continue to see volumes spike across retail, wholesale and direct to consumer lending channels. In March, the changing market conditions, low-interest rates, and high refinance volumes yielded a massive spike in transaction volume, further highlighting the resilience of FinConnect and its proven ability to provide a seamless experience.”
FinConnect simplifies the lending experience, providing lenders plug-and-play access to 130 connectors from more than 60 service providers, including various product types such as identity, credit, income, asset, tax transcripts, AUS, appraisal, closing costs and fees, flood, product & pricing engine, compliance, title insurance, mortgage insurance and Fannie Mae Day 1 Certainty™ designated vendors. FinConnect supplies on-demand data directly from the information source, enabling a simple end-to-end digital mortgage experience for the borrower.
Rashid continued, “This achievement represents Tavant’s ongoing commitment to provide proven, modern technology tools that address the lenders’ top challenges and disrupt the cumbersome, often crippling mortgage processes and procedures. FinConnect is a game-changer for lenders, enabling them to provide their borrowers with a superior, personalized digital experience from home discovery to loan funding.”
Tavant’s growing customer base originates one out of every four loans in the U.S. Tavant’s VΞLOX suite of products solves many lender and borrower challenges, while maximizing data-driven processes.
About Tavant VΞLOX
Tavant VΞLOX is the industry’s leading AI-powered digital suite of products that maximizes the use of data-driven processes in the automation of the loan origination lifecycle. It brings true digital disruption to the mortgage industry with an immersive omni-channel experience and high velocity execution: from home discovery to loan funding.
Headquartered in Santa Clara, Calif., Tavant is a digital products and solutions company that provides impactful results to its customers across North America, Europe, and Asia-Pacific. Founded in 2000, the company employs more than 2500 people and is a recognized top employer. Tavant is creating an AI-powered intelligent lending enterprise by reimagining customer experiences, driving operational efficiencies and improving collaboration.