Standalone AI-powered solution helps lenders handle increased volume and improve customer experience during the refinance boom
SANTA CLARA, Calif.–(BUSINESS WIRE)–Tavant, a Silicon Valley-based provider of AI-powered digital lending technologies, announced today that it has launched its Instant Refi Advisor (IRA) product to assist lenders who are facing an increased volume of refinance applications. IRA is a plug-in for mortgage lenders and is powered by Tavant’s FinConnect platform, an intelligent lending data and enterprise mortgage services integration hub. The product was featured during HousingWire’s Mortgage Tech Demo, click here to watch the video demonstration.
Through IRA, lenders can ease the load of their refinance applications by allowing borrowers to see what they qualify for based on their current situation as well as view pricing fees and the best rates available. Instead of calling lenders and discussing product offerings, borrowers have the ability to adjust rates and monthly payments themselves on IRA to understand what their goals are. Additionally, IRA allows lenders to offer personalized products that customers can apply and qualify for, streamlining the overall refinance application process.
“Lenders have seen an amplified number of refinance applications in the past couple of months that they are unable to maintain,” said Abhinav Asthana, Head of Fintech Products at Tavant. “With our new Instant Refi Advisor, borrowers can easily view what products they could qualify for to lower their monthly payments, lower their interest rates, and maximize their cash-out. Offering this modern technology solution saves the lender a significant amount of time as they can focus on seamlessly pushing through qualifying requests instead of fielding a large volume of calls.”
Once a borrower completes their inquiry through the Instant Refi Advisor, lenders receive the information through their CRM system, allowing them to have full context on a borrower’s goals when they reach out to complete the transaction. IRA can be plugged into any point of sale systems and can be integrated with a variety of core banking systems to customize product offerings and prep-populate any customer information and data that is required to complete the application. It also comes pre-built for mortgage lenders and has pricing integration, identity verification, credit servicing, and CRM integrations available.
“Everything we do at Tavant is centered around the customer experience,” said Hassan Rashid, Tavant’s CRO. “By giving the customer details on their refinance upfront and completely on their own, lenders are providing the right kind of personalized advice and insight into a borrower’s refinance, without making them wait to talk to someone. This transforms the end-user experience and streamlines the refi process, meeting customer demand even during this time of high volume while further building customer loyalty.”
The IRA tool is configurable and allows lenders to adjust the color, presentation and the details of the borrower inquiry. It can also be hosted on a lender’s landing page or used as a widget, without having to subscribe to Tavant’s suite of products.
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.
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.