SANTA CLARA, Calif., December 18, 2019
Tavant, a Silicon Valley-based provider of AI-powered digital lending technologies, announced record growth, 24.3 percent annual revenue growth in its Fintech business and corporate expansion including the addition of a new Dallas Innovation Center. Additionally, the organization received multiple industry awards for innovative product launches and industry leadership.
Hassan Rashid, Tavant’s Chief Revenue Officer, said, “2019 was an incredible year; we far surpassed our goals and objectives in terms of new customer and revenue growth. We continue to partner with the GSEs as well as the industry’s leading banks, financial institutions, Fintechs and Proptechs to deploy disruptive technologies and machine learning capabilities that address their top challenges including digital transformation and personalized customer experience. I am extremely proud of our achievements in the Fintech space which were further confirmed by a record achievement of seven renowned industry awards.”
In 2019, Tavant was recognized for multiple industry awards including:
- Tavant VΞLOX Awarded the 2019 HousingWire Tech 100 listing;
- Tavant Named to the 2019 IDC FinTech Rankings;
- Hassan Rashid, chief revenue officer, Tavant, Named a Lending Luminary by Progress in Lending;
- Raj Menon, chief marketing officer, Tavant, Named a PR, Sales and Marketing Trailblazer by Progress in Lending;
- Aasif Mohammad, director of engineering, Tavant, named a HousingWire Insider;
- Vinita Ranade, senior product manager, Tavant, named a HousingWire Tech Trendsetter;
- Ankur Agrawal, director of engineering, Tavant, named a HousingWire Rising Star.
Earlier this year, Tavant announced continued expansion with the addition of a new technology innovation center in Dallas, continuing its growth in the financial technology and services space. The center focuses on new product development and providing new-age digital experiences to lenders via Digital Factories. The company attributes much of its growth to its ongoing commitment to product development and providing the industry with disruptive, innovative solutions and services.
During the year, Tavant solved multiple complex lender and borrower challenges. Tavant’s thought leadership and deep industry relationship helped to bring together the nation’s six mortgage insurance providers on a common technology platform – FinConnect – and enable MI Basket Order, an enhanced version of its Mortgage Insurance suite of services to seamlessly integrate rate quote capability across multiple insurance providers; and MI Best Execution, a new feature that allows lenders to apply a set of rules on top of its MI Basket Order feature to ensure borrowers get the best MI Products.
Tavant continues to focus on deploying innovative digital lending components via its premiere AI-powered product suite, Tavant VΞLOX. Tavant launched its patent-pending Affordability Advisor product that leverages deep learning models within its consumer direct portal to provide advice to borrowers. Using the Tavant VΞLOX platform from a financial institution, a borrower begins a mortgage application and using the Affordability Advisor interface, the solution automatically provides affordability information, as well as credit factors, enabling the borrower to modify their application if needed. Additionally, a top-five bank mortgage originator successfully launched FinRules, a new component of Tavant’s VΞLOX suite of products, and will be leveraged to improve loan fungibility and execution across investors without sacrificing operational efficiency.
Tavant’s FinConnect, the intelligent lending data and services integration platform, was also enhanced the past year with the addition of auto-scaling capabilities and increased resilience through active-active configurations as well as the addition of multiple third-party data connectors such as the Zillow Zestimate, an advanced property valuation estimation tool that leverages neural networks and real-time data to provide lenders and borrowers more accurate home value estimates. Retention Intelligence Solution is the first product of its kind, leveraging deep learning models to enable lenders and servicers to predict and manage portfolio churn and focus on customer retention strategies.
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