The latest announcement also follows the July launch of its new, AI-powered end-to-end loan service platform solution, Touchless LendingTM.
Asked if both brokers and borrowers were more receptive to the concept of fully-digitized mortgages, he said: “It’s happened to a large degree – it depends on the demographics – but we have reached a tipping point. That’s why we are investing in touchless lending to enable that to happen.
“If you look at the demographics, there is no doubt expectations have clearly changed in terms of how millennials, Generation Z, or people of our generation want the experience to be – and they want the experience to be very digital.”
He said Tavant was “really working” on developing touchless lending to achieve that goal. “We have identified clear metrics that we’re working on with our customers to help them reduce their costs of origination – we’re very focused on that,” he added.
“We believe there is a there is a cohort of loans out there that can be originated touchless. This industry is very fragmented – there’s still a lot of participants in the process, and no-one’s really been able to take a loan all the way through touchless to date – I’ve been in this industry almost 30 years now and I haven’t seen it.