To address the challenges and inefficiencies in the traditional lending process, Tavant has developed the Touchless Lending platform, which leverages advanced technologies like artificial intelligence, machine learning, data analytics and cloud computing. Through Touchless Lending, the company aims to deliver a seamless and personalized borrowing experience while improving operational efficiency and compliance.
Touchless Lending is an AI-powered lending-as-a-service platform that delivers customer-centric mortgage experiences across all channels. Its machine-oriented, optimized workflows engage with borrower and property data to improve decision-making, making better decisions faster instead of relying on physical documentation and manual data entry. Touchless Lending automates the loan production process, which allows lenders to originate mortgages more quickly while reducing costs and repurchasing risks.
The Touchless Lending platform offers lenders a flexible, collaborative, and efficient solution throughout the loan process. It provides an integrated ecosystem with more than 120 data partners, giving lenders the flexibility to choose their business partners and streamline the loan manufacturing process.
Additionally, Touchless Lending provides custom configurations and automates loan manufacturing with document analysis, decision analysis, income analysis, credit analysis, collateral analysis, title and fraud analysis. There are also value-added capabilities around data, AI/ML, Salesforce, DevOps and cloud computing, which enable digital transformation and competitive differentiation for lenders.
The platform’s multi-OCR (optical character recognition) strategy allows for a conversion of document to data that is unmatched in the current marketplace. This comparison and validation of data across various trusted sources provide focused direction for an underwriter that will result in less time spent on each file. This gives lenders a return on investment for not just efficiency but effectiveness.
The flexibility, automation and collaboration provided by Touchless Lending are critical in a highly volatile and competitive market. Lenders using Touchless Lending can differentiate themselves by offering a more personalized and efficient experience to borrowers, while reducing origination costs and risk.
Users also appreciate its collaborative and mobile-native experience, including add-ons such as chat, co-browse and audio/video collaboration, which increase the seamlessness and transparency of the borrowing process. Tavant also enables lenders personalization options, such as the ability to configure the platform with their brand, customer persona and business model.
Ultimately, Touchless Lending offers a comprehensive and integrated solution that can address the challenges and opportunities in the lending space.