Tavant Launches LO.ai to Enhance Touchless Lending® Platform
Slice of Finance Team
10/31/2024
Key Highlights:
- LO.ai enhances Touchless Lending® with generative AI to reduce sales costs and boost borrower confidence.
- Improves lead conversion while reducing sales expenses by focusing skilled loan officers on complex deals.
- Reduces onboarding time for new loan officers, expediting productivity.
- Secure AI technology ensures data privacy and compliance with TILA RESPA, TRID, and agency guidelines.
Source: Business Wire
Quotes
“ “We are committed to providing comprehensive AI solutions that drive enhanced performance, efficiency, and customer experience while significantly reducing origination cost and empowering and enabling borrowers.” ”
Hassan Rashid, CRO at Tavant
Our Take:
Tavant’s LO.ai release marks a significant milestone in digital lending, incorporating generative AI into its Touchless Lending® platform. By automating core sales processes, LO.ai supports lenders in reducing operational costs while fostering borrower confidence through data-driven insights and educational tools. The focus on compliant data security measures and regulatory adherence, such as TILA RESPA and TRID, reinforces Tavant’s commitment to innovation within a stringent regulatory framework. This release is likely to drive further adoption, particularly given that Tavant’s platform already underpins one-third of U.S. home loans, positioning the company as a formidable leader in AI-driven lending solutions.
