SANTA CLARA, Calif., June 03, 2020
Tavant, a Silicon Valley-based provider of AI-powered digital lending technologies, announced today its Retention Intelligence, part of Tavant’s VELOX platform, was named the winner of a Stevie® Award in The 18th Annual American Business Awards® in the Business Technology category for Artificial Intelligence/Machine Learning solutions.
The American Business Awards are the U.S.A.’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small.
“We are honored to receive the renowned Stevie Award and to be recognized by such a prestigious organization,” said Manish Arya, CTO Tavant. “This award is a testament to Tavant’s ongoing commitment with AI/ML to empower our customers with innovative tools and intelligent insight needed to succeed in today’s increasingly demanding market. Tavant’s vision from day one has been focused on providing unparalleled solutions to meet the business goals of our customers. I am extremely proud of the tireless efforts put forth by our team to ensure we never settle for the status quo, but instead remain focused on providing new and innovative technology solutions to address the most complex challenges facing our customers.”
More than 3,600 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories, including Startup of the Year, Executive of the Year, Best New Product or Service of the Year, Marketing Campaign of the Year, Live Event of the Year, and App of the Year, among others.Tavant was nominated and won in the Business Technology category for Artificial Intelligence/ Machine Learning solutions.
Tavant’s Retention Intelligence platform leverages holistic customer information, enabling lenders and servicers to identify the refinance opportunities within portfolios to maximize retention and upselling. More than 200 loan attributes across 10 million records are used to train the models. Additionally, the product allows lenders and servicers to predict and manage portfolio churn and focus on customer retention strategies. The model is three times more accurate when compared to other methods used to analyze a portfolio of 1.5 million loans that churns at 15% annually. By leveraging Tavant’s Retention Intelligence, lenders can see 50% lower retention costs as compared to traditional retention models.
More than 230 professionals worldwide participated in the judging process to select this year’s Stevie Award winners.
“Despite the toughest business conditions in memory, American organizations continue to demonstrate their commitment to innovation, creativity, and bottom-line results,” said Stevie Awards president Maggie Gallagher. “This year’s Stevie-winning nominations are full of inspiring stories of persistence, ingenuity, resourcefulness, and compassion. We celebrate all of their stories and look forward to showcasing them during our virtual awards ceremony on August 5.”
Details about The American Business Awards and the list of 2020 Stevie winners are available at www.StevieAwards.com/ABA.
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About the Stevie Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
Sponsors of The 2020 American Business Awards include John Hancock Financial Services, Melissa Sones Consulting, and SoftPr
