Tavant To Enhance The ‘Digital Mortgage’ Landscape

by Swaminathan Balasubramanian    Sep 06, 2016

Sandhya Suku

Tavant Technologies has been recognized and listed as ‘America’s most innovative mortgage technology company. Sandhya Suku, Senior Director – Software Development, Tavant Technologies, played a key role in developing ‘Tavant FinConnect’, a modern mortgage data and services hub that connects the internal and external systems of the mortgage ecosystem to enable a digital mortgage experience. Sandhya devised an innovative mortgage software development methodology that employed distributed agile process, design thinking concepts, a number of reusable mortgage software components, and solution accelerators that allowed cost-effective custom solutions for the mortgage customers in as little as 3-4 months of delivery time.

In an exclusive interview with CXOToday, Sandhya Suku tells the way she aims changing the Digital Mortgage landscape in India. Edited Excerpts. 

With the tech disruption happening across the world, IT Organizations across are asking for a new breed of solutions- in this backdrop, how is Tavant delivering IT for the new normal tech demands?

90 per cent of the world population now has access to a mobile network. People now expect an Omni-channel experience across all touchpoints in their daily life. Delivering software solutions in this new norm needs new capabilities. The challenges of faster time to market, evolving business needs and higher ROI will always remain. We have products and platforms for Warranty Management and Mortgage. We have also developed platform solutions by combining our deep domain expertise with technology knowhow. These platform solutions can be quickly customized and   deployed to fulfill the business or technical requirements. 

We have launched game-changing, cloud-based solutions like ‘FinConnect’ and ‘InvestorConnect’ for the Mortgage Industry and ‘Tavant Warranty On-Demand for Manufacturing’ is the only completely native warranty management solution on Salesforce.com platform. We are investing in Artificial Intelligence and Machine Learning to develop solutions that enhance end user experience.  We also provide cloud management, migration and development services and we have services such as Software as a Service (SaaS); Platform as a Service (PaaS); Infrastructure as a Service (IaaS); Backend as a Service (BaaS) and Testing-as-a-Service (TaaS).

You operate across niche verticals like consumer lending, capital markets and gaming - can you give a sense about IT adoption dynamics in these verticals and your company’s play in these verticals? 

Digital is an expectation in today’s hyper-connected world. In the lending world, borrowers want a simpler, faster, seamless, paperless and a near real-time touchpoint with their lender across all channels. This expectation comes from the new age digital natives that include the millennial generation. The lending community is now trying to transform and disrupt themselves into an organization that leverages digital across all touchpoints with a borrower.

Tavant FinConnect is a product that allows for what the industry is calling a total “digital mortgage” experience. Today, borrowers would have to go on a quest to hunt down their loan application-specific documents from W-2 statements to pay stubs to credit reports to financial statements from their banks, then scan these documents into images and then upload these sets of images to the lenders they are working with.

On the flip side, the lenders are getting (sometimes poorly) scanned images that they need to eyeball and classify into specific document requests for specific conditions and extract the data fields they need from these images to make a decision on the loan. You can imagine the amount of inefficiency that is evident and embedded in the above process.

Tavant FinConnect is an integration platform that connects the internal and external systems that are typically found in a mortgage ecosystem. Tavant InvestorConnect, is a cloud based platform for lenders, investors and servicers to collaborate and transact with a unified view. It’s loaded with extra-ordinary features and its ability to dove tail with third party systems to deliver absolute transparency and standardize business operations across platforms.

With enterprises transitioning to a Cloud model- how do you see this changing your business and revenues- for instance, do you foresee traditional ADM slice of pie shrinking in favor of cloud?

Cloud based models are being adopted by many companies. These organizations are the early adopters of technology and are well versed in using technology to improve their business and realize ROI. They lean more towards OPEX based expense model (utilization based).

But there are also big organizations who are still trying to make sense of cloud computing. Despite its longevity, cloud computing still suffers from confusion, and long-standing nontechnical concerns (for example, cost and governance) continue to muddle the opinions and approaches of CIOs, architects and cloud leaders. These large organizations operating in multiple countries are bound by the regulations (data sharing restrictions) imposed on them by their respective governments, which makes them a reluctant mover to the cloud. They are still using the traditional CAPEX model for their IT systems.

Can you talk about the key trends in BI, mobility and software testing and what’s Tavant doing in these areas?

Mobility: Tavant Technologies has long been a strong proponent of mobile solutions. In recent years, the trend toward mobile-first or mobile-only apps has accelerated, led by the growing influence of Millennials. At the same time, Tavant Technologies recognizes that smartphones and tablets are not the end-all of Mobility. The mobile ecosystem is quickly evolving towards a richer set of device types including 2-in-1’s, tablets, phones, wearables, and virtual and augmented-reality headsets, and we are investing in all of these. In addition, there are non-mobile devices that can run mobile apps such SmartTVs, AppleTV, Roku, and game consoles.

Internet of Things (IoT): As part of a complete Omni-channel retail solution, beacons are used to guide a customer through the store via a mobile app on their smartphone. Another IoT mobile solution is home automation, where Tavant Technologies has utilized a learning engine to adapt to a user’s lifestyle by controlling lights, temperature, and music settings. Our enterprise customers have additional areas of focus such as device and application security, identity management, Enterprise Mobility Management (EMM) and Mobile Device Management (MDM).

Real time Analytics: The industry is experiencing the evolution of data in motion platforms in 2016. There is a need for a higher-level framework that can handle the many device protocols and bring all of the data flows into a distributed platform like Hadoop. The platform needs to facilitate communications in multiple protocol languages. The combination of data in motion and data at rest is a big opportunity for the year.

Can you give more details on your Warranty Platforms?

We offer ‘Tavant Warranty’; a globally leading, complete service lifecycle-on premise/enterprise warranty management software and, ‘Tavant Warranty On-Demand’ (TWoD), The only 100 per cent native warranty management system on Salesforce. The enterprise version is traditional license based and TWoD is subscription based.  TWoD Highly scalable, flexible and elastic. We have a Flexible pricing model for TWoD. Users can choose from subscription based (per user) and Functionality based. 

What is your strategy for bigger market share and revenue traction?

Tavant’s new strategy is to achieve a revenue size of USD 250 million by 2020. There has been considerable realignment on this front. Hassan Rashid who was the Executive VP – Sales & Marketing has been made the Chief Revenue Officer. There is a renewed focus on products and platforms – FinConnect and InvestorConnect are game-changing solutions for the lending industry. We have also seeded ‘Tavant Innovation Lab’ to encourage and innovative ideas from within the company and make the viable ones a reality.

What are the verticals you are currently strong?

Currently Tavant has a strong foothold in financial services, manufacturing and media and entertainment.