Tavant partners with Hay Group to expand into Australia

By Leandra Monteiro

Tavant, a Silicon Valley-based provider of AI-powered digital technologies, announced it has entered into a strategic alliance with Hay Group, an Australian FinTech provider, to deliver the full payment and lending range of capabilities to the Australian financial market.

Tavant’s end-to-end digital lending suite, VΞLOX, will now be integrated with Hay’s cloud-embedded finance platform, which integrates digital banking services into any customer journey. This joint solution will provide extraordinary, AI-powered financial experiences for lending and banking end-users in the Australian financial marketplace.

Hay provides an “as a service” embedded finance platform (HaaS), enabling any business to complement their existing product offerings with financial solutions, simultaneously improving customer experience and creating additional revenue sources. HaaS technology and product teams bring together experience in high-frequency trading from the hedge fund to the payments industry. Through their ecosystem, financial and non-financial businesses can control a full suite of services, including core banking, card issuing, processing, recs, AML/CTF, real-time fraud monitoring, digital wallets, and more. The flexibility to integrate and control one or all these core services comes from utilizing a single, modern universal API layer to access HaaS’s pure microservices.

Tavant VΞLOX enhances productivity, efficiency, and accuracy for more than 65% of the top financial institutions across the United States. VΞLOX maximizes the use of data-driven processes in the automation of the loan origination lifecycle, providing an intuitive omnichannel experience and quick execution from home discovery to loan funding. VΞLOX deploys Artificial Intelligence (AI) and Machine Learning (ML) algorithms to provide an immersive journey for each stakeholder in the lending ecosystem. The digital platform is fully customisable and is designed to transform the home lending process by significantly shortening the loan processing time, boosting productivity, and reducing origination costs.

Andrew Laycock, Hay Group CEO, believes this strategic alliance with Tavant will disrupt the Australian financial industry. “We are excited to see one of the largest lending platforms in the world select Hay’s embedded finance platform to enable our customers to offer a full 360-degree lending solution. HaaS allows Tavant to fully integrate into the Australian payment networks, creating a one-stop-shop for building a world-class lending product.”

According to Sarvesh Mahesh, CEO at Tavant, Hay’s immense financial market expertise in Australia will match perfectly with Tavant’s AI-driven lending capabilities. “Together, we are merging the best-of-breed capabilities of two fintech giants, one in the lending space and one in the banking space, to deliver a complete, end-to-end solution for end-users who need an intuitive, integrated platform for all their banking and lending needs.”