Tavant, a Silicon Valley-based provider of digital lending solutions, and Experian, a global information services company, are working together to minimize friction in the mortgage application process and improve the borrower’s loan application experience. By integrating Experian’s Enhanced Instant Form Fill for Mortgage withFinXperience and FinConnect, components of Tavant’s VΞLOX digital lending platform, lenders, with a consumer‘s permission, can automate data entry and prefill borrower information on the Uniform Residential Loan Application (URLA) – providing a more simple and seamless experience for borrowers and loan officers.
Experian’s Enhanced Instant Form Fill empowers borrowers to permission access to their personal data, which is automatically added to their mortgage application. With increased automation, lenders can drive efficiency, reduce friction, and grow their business. Enhanced Instant Form Fill also leverages Experian’s fraud and identity solutions, Precise ID® and FraudNet, to authenticate borrowers and protect their information throughout the experience.
“We’re excited to integrate with Tavant to help lenders streamline their mortgage application process,” said Susan Allen, Head of Product at Experian Mortgage. “By reducing manual data entry, lenders can modernize their borrower experience, increase pull-through and conversion rates, and improve data accuracy.”
FinXperience, Tavant’s intuitive platform of point-of-sale experiences, and FinConnect, their intelligent lending data and enterprise mortgage services integration hub, are VΞLOX products and implementable across all lending channels, including retail, wholesale, and others. These integrations will allow lenders to increase automation, reduce manual data entry, and provide their borrowers with more elegant and comfortable user journeys. This will decrease their time to completion and improve the overall application conversion rate.
“We at Tavant are committed to improving the consumer experience, and it is more important now than ever before for lenders to find ways to differentiate their offerings and drive efficiency,” said Sarvesh Mahesh, CEO of Tavant. “Tavant is the right partner to eliminate inefficient, highly manual, and extremely costly procedures, and start focusing on creating a frictionless customer journey and increasing application completion.”
VΞLOX is an AI-powered digital lending product suite that delivers best-in-class lender and borrower experiences. It utilizes automation and straight-through processing to configure immersive lending journeys that accelerate loan manufacturing and improve loan quality. Tavant’s VΞLOX suite of products optimizes the back office, simplifies the middle office, and transforms the front-end consumer experience into an efficient digital data flow.
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