As part of its announced strategy to improve customer experience, Darien Rowayton Bank (DRB) has commissioned solutions provider Tavant Technologies to develop a next-generation retail mortgage platform that promises a trouble-free, paperless process for consumers.
The project is the bank’s first foray into national consumer mortgage.
“While DRB started with a national student lending platform, we view mortgages as the next step in our vision of building out a complete set of financial solutions for our customers throughout their lives,” DRB chairman Gary Lieberman said in a press release, as quoted by PR Newswire.
Company executives said that the digital, mobile-friendly platform is aimed at streamlining loan origination and application by ensuing real-time online transactions, thus removing the hassle of setting aside travel time to meet in person.
No target date has been set for completion or release, although Tavant Technologies officials expressed excitement at the industry implications of the project.
“This is the start of a new wave in the mortgage industry powered by leading-edge technologies and we have the appropriate industry experience and software expertise to enable that,” executive vice president Hassan Rashid said.
Face-to-face interactions have long been a fixture of the U.S. mortgage industry, but a collaboration between a bank and a software developer is setting out to disrupt that hallowed tradition.