Tavant, a Silicon Valley-based provider of AI-powered digital lending technologies, announced today that Consumer Direct Mortgage, a division of FirstBank with mortgage operations and financial centers throughout the Southeast, leveraged FinXperience to develop and deploy a new consumer direct digital lending platform. A component of Tavant VΞLOX, an AI-powered digital lending suite of products, FinXperience is a point-of-sale solution that provides a simplified digital experience across all lending channels.
“Tavant has been an outstanding technology partner in turning our vision into a reality,” said Jamie Thornton, director, Online Mortgage Lending for FirstBank. “During our due diligence, they were the only provider that was able to adapt their product to our unique business model and in turn, build a platform that was tailored to our specific workflow and business processes. Together, we’ve launched a modern mortgage application platform that provides rate and cost transparency while reducing loan durations, providing an enhanced customer experience.”
Rob Henger, director of Mortgage Banking for FirstBank, added, “We are looking forward to partnering with Tavant to leverage this digital point-of-sale solution into other FirstBank verticals.”
FirstBank, headquartered in Nashville, Tenn., can now provide a differentiated borrower experience through a seamless integration of data-driven processes and personalized journeys with a suite of portals and companion mobile applications. Using FinXperience, lenders are able to grow origination volumes by 2.5 times, improve pull-through rates by 25 percent, cut down origination costs by 35 percent and reduce the average loan close time by 14 days.
Hassan Rashid, CRO of Tavant, said, “Launching a new, customer-focused platform provides FirstBank a significant competitive advantage in an increasingly fierce market. FinXperience, empowers the Bank with a design-centric approach and enables a seamless, device-agnostic experience to meet evolving 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 originates one out of every four loans in the U.S. The Tavant VΞLOX suite of products solves the most complex lender and borrower challenges, while maximizing data-driven processes.
About ConsumerDirect Mortgage, A Division of First Bank
Consumer Direct Mortgage, a division of FirstBank, is multi-billion dollar national originator. FirstBank is a publicly traded, 100 year old, Community Bank headquarted in Nashville, Tenn. https://www.cdmtg.com/
About FB Financial Corporation
FB Financial Corporation (NYSE: FBK) is a bank holding company headquartered in Nashville, Tennessee. FB Financial operates through its wholly owned banking subsidiary, FirstBank, the third largest Tennessee-headquartered community bank, with 67 full-service bank branches across Tennessee, North Alabama and North Georgia, and mortgage offices across the Southeast. FirstBank serves five of the largest metropolitan markets in Tennessee and has approximately $6.0 billion in total assets.
Headquartered in Santa Clara, Calif., Tavant is a digital products and solutions company that provides impactful results to its customers across North America, Europe, and Asia-Pacific. Founded in 2000, the company employs more than 2500 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.