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New integration enables more efficient consumer data collection through artificial intelligence to create a faster, easier and more accurate experience
Washington, D.C., Oct. 15, 2018 — At the Mortgage Bankers Association’s Annual Convention & Expo today, Experian®, the world’s leading information services company, and Tavant, a leading digital mortgage products and platforms company, announced an integration to digitize the loan origination process and create a streamlined experience for consumers and lenders.
Now, consumer-verified data from Experian will be integrated into Tavant’s VΞLOX platform, enabling a more streamlined environment to help consumers satisfy mortgage originators’ information needs quickly and securely.
According to findings published by the Federal Housing Finance Agency, 18 percent of home loan applicants were forced to redo their paperwork in 2016, and nearly 24 percent ultimately had their closing dates postponed. The new integration with Tavant eliminates the need for consumers to enter and re-enter information manually, saving time and reducing the potential for error.
“Traditional mortgage processes are cumbersome. We’re constantly innovating to find new ways to improve the mortgage experience for everyone involved,” said Michele Pearson, general manager, Experian Mortgage. “Through this integration with Tavant, we’re leveraging the power of data to create the secure, efficient experience consumers are looking for while helping lenders make the right decisions, faster.”
Tavant VΞLOX is the industry’s leading AI-powered digital lending platform that maximizes the use of data-driven processes in the automation of the loan origination life cycle. Its components include FinConnect, a mortgage data and services hub that connects the internal and external systems of the mortgage network, and FinXperience, a unified immersive experience platform for borrowers, loan officers, wholesale brokers and correspondent sellers.
“As more tech-savvy millennials and younger generations pursue a mortgage, we believe lenders will find themselves falling behind if they’re not creating a user-friendly and digital experience for borrowers,” said Hassan Rashid, chief revenue officer at Tavant. “Through this collaboration with Experian, we are creating a simple, touchless and transparent experience for future homeowners and mortgage lenders.”
Several leading national lenders, such as Fairway Independent Mortgage, Ditech Financial, CMG Financial and Sierra Pacific Mortgage, are using Tavant VΞLOX to enable digital mortgage transactions.
To learn more about Experian’s mortgage business, visit Experian at Booth #339 and Tavant at Booth #243 at the Mortgage Bankers Association’s Annual Conference & Expo or visit www.experian.com/mortgage.
About Tavant Technologies
Headquartered in Santa Clara, Calif., Tavant Technologies is a digital products and platforms company that provides impactful results to its customers across North America, Europe and Asia-Pacific. Founded in 2000, the company employs more than 2,500 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. Find Tavant Technologies on LinkedIn and Twitter.
Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers — we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
We have 16,500 people operating across 39 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
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