FirstBank Mortgage Launches Digital Direct-to-Consumer Lending Platform Powered by Tavant VΞLOX
SANTA CLARA, Calif .– (COMMERCIAL THREAD) –Tavant, a Silicon Valley-based AI-based digital lending technology provider, today announced that Direct mortgage loan to consumers, a division of FirstBank with mortgage operations and financial centers across the South East, leveraged FinXperience to develop and deploy a new digital direct-to-consumer lending platform. A component of Tavant VΞLOX, an AI-powered digital lending product suite, FinXperience is a point-of-sale solution that delivers a streamlined digital experience across all lending channels.
“Tavant has been an exceptional technology partner in turning our vision into reality,” said Jamie Thornton, Director of Online Mortgages for FirstBank. “During our due diligence, they were the only vendor who was able to tailor their product to our unique business model and, in turn, create a suitable platform for our workflow and business processes. specific. Together, we launched a modern mortgage application platform that offers rate and cost transparency while reducing loan terms, providing an enhanced customer experience. ”
Rob Henger, Director of Mortgage Banking Services for FirstBank, added: “We look forward to partnering with Tavant to leverage this digital point of sale solution in other verticals of FirstBank.
FirstBank, headquartered in Nashville, Tenn., Can now deliver a differentiated borrowing experience through seamless integration of data-driven processes and personalized journeys with a suite of portals and associated mobile applications. Thanks to FinXperience, lenders are able to increase origination volumes by 2.5 times, improve transfer rates by 25%, reduce origination costs by 35% and reduce average loan closing time 14 days.
Hassan Rashid, CRO at Tavant, said: “The launch of a new customer-centric platform gives FirstBank a significant competitive advantage in an increasingly fierce market. FinXperience gives the bank a design-centric approach and enables a seamless, device-independent experience to meet changing customer expectations. This initiative will accelerate FirstBank’s digital transformation journey and further improve the overall home buying experience for their customers, while optimizing existing business processes and functions.
FirstBank joins Tavant’s growing customer base, which accounts for one in four loans in the United States. The Tavant VΞLOX suite of products solves the most complex challenges of lenders and borrowers, while maximizing data-driven processes.
About ConsumerDirect Mortgage, a division of First Bank
Consumer Direct Mortgage, a division of FirstBank, is a multi-billion dollar national originator. FirstBank is a century-old publicly traded community bank headquartered in Nashville, Tenn. https://www.cdmtg.com/
About FB Financial Corporation
FB Financial Corporation (NYSE: FBK) is a banking holding company headquartered in Nashville, Tennessee. FB Financial operates through its wholly owned banking subsidiary, FirstBank, the third largest Tennessee-based community bank, with 67 full-service bank branches in Tennessee, northern Alabama and northern Georgia, and mortgage offices in the southeast. FirstBank serves five of Tennessee’s largest metropolitan markets and has total assets of approximately $ 6.0 billion.
Headquartered in Santa Clara, Calif., Tavant is a digital products and solutions company that delivers impactful results to customers in North America, Europe and Asia-Pacific. Founded in 2000, the company employs more than 2,500 people and is recognized as a leading employer. Tavant is building a smart AI-powered lending business by reimagining customer experiences, improving operational efficiency, and improving collaboration.