Tavant and Microsoft Collaborate on AI for Mortgages
The company Tavant has announced a strategic collaboration with Microsoft to enhance its AI-powered mortgage lending platform. The partnership will leverage Microsoft's AI technologies to accelerate digital transformation for lenders using Tavant's solutions.
- Tavant was founded in 2000 by a group of ex-Amazon employees, including current CEO Sarvesh Mahesh. Their initial concept was a platform for renting goods, but they pivoted to providing B2B technology solutions for the manufacturing and mortgage industries after the dot-com bust made their original idea difficult to fund. - The company established its presence in India early on, incorporating in New Delhi in late 2000 and moving its India headquarters to Bangalore in 2002. The Bangalore office is located in Koramangala and has undergone significant expansion over the years to support the company's growth. - One of Tavant's foundational clients was a top-three mortgage lender, a relationship that provided the company with deep domain expertise and became the bedrock for its future suite of mortgage products. - At the core of Tavant's platform is FinConnect, an integration hub with over 130 pre-built connectors that provides an API-driven backbone for their mortgage solutions. This platform is designed to be developer-friendly, offering RESTful APIs and an SDK for building custom integrations, though public documentation is limited. - The company's AI-powered suite, Touchless Lending, aims to automate the entire mortgage origination process, from document analysis to underwriting. A key feature is "MAYA," an intelligent AI assistant that offers real-time guidance to borrowers and loan officers. - Pilots of the Touchless Lending platform have shown significant efficiency gains, with some mortgage originators reporting a 12x increase in underwriter productivity and a 60% reduction in overall operational costs. - The collaboration with Microsoft involves leveraging Azure's AI and machine learning capabilities. Tavant has previously used Azure for its Manufacturing Analytics Platform (TMAP), indicating an established history of building on Microsoft's cloud infrastructure. - CEO Sarvesh Mahesh is an alumnus of IIT Roorkee and, prior to co-founding Tavant, was a Director at Amazon and a Vice President at Junglee, the shopping search engine acquired by Amazon.
