JACKSONVILLE, Fla.,
July 6, 2016 /PRNewswire/
-- Black Knight Financial Services, Inc. (NYSE:BKFS), a
leading provider of integrated technology, data and analytics to
the mortgage and real estate industries, announced today that Fifth
Third Bank, a diversified financial services company headquartered
in Cincinnati, Ohio, will
implement a full suite of Black Knight loan origination solutions.
Fifth Third Bank is consolidating its residential lending
technology onto one integrated platform to enhance efficiencies and
risk management.
Fifth Third Bank will be implementing the following Black Knight
solutions to support its retail, consumer direct and correspondent
mortgage loan channels, as well as home equity product
originations:
- LoanSphere Empower - a comprehensive LOS that supports
originations of first mortgages and home equity loans. The
Web-based, enterprise LOS helps lenders electronically originate,
process and close loans, and includes a solution for reporting,
dashboards and ad hoc queries.
- LoanSphere LendingSpace – an end-to-end LOS that offers
the controls, security and configuration necessary to build or
enhance correspondent lending programs. LendingSpace performs all
lending activities within one system for a seamless, standardized
workflow that follows each lender's specific processes and
rules.
- LoanSphere Exchange – Black Knight's Exchange is a Web-based
technology that allows lenders and their service providers to
connect and order products and services electronically through a
secure, standards-based platform that provides integration, data,
workflow and decisioning support. Exchange connects more than
20,000 of the mortgage industry's service and solution providers
with the top lenders in the industry. Fifth Third will be able to
access Exchange directly from Black Knight's Empower LOS.
- LoanSphere Quality Insight - a loan quality assessment tool
that automates internal quality control reviews, provides
consistent feedback on investor and lender compliance requirements,
supports remediation and exception processing, and helps improve
data integrity and reduce repurchase requests.
"Black Knight's LoanSphere technology will help streamline Fifth
Third's lending operations, providing the company with the
integrated solutions needed to help meet its compliance obligations
and achieve greater efficiencies across the origination loan
lifecycle," said Jerry Halbrook,
president of Black Knight's Origination Technologies division. "The
combination of Black Knight's technologies, which deliver
end-to-end capabilities, will help lenders like Fifth Third realize
greater value by using integrated technology from a single
provider."
LoanSphere is Black Knight's premier, end-to-end platform of
integrated technology, data and analytics supporting the entire
mortgage and home equity loan lifecycle -- from origination to
servicing to default. The platform delivers business process
automation, workflow, rules and integrated data throughout the loan
process, providing a better user experience, cost savings and
support for changing regulatory requirements. By integrating
lending functions and data, Black Knight's LoanSphere helps lenders
and servicers reduce risk, improve efficiency and drive financial
performance.
About Fifth Third
Fifth Third Bancorp is a diversified
financial services company headquartered in Cincinnati, Ohio. The Company has $142 billion in assets and operates 1,241
full-service Banking Centers, including 95 Bank Mart® locations,
most open seven days a week, inside select grocery stores and over
2,500 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West
Virginia, Pennsylvania,
Georgia and North Carolina. Fifth Third operates four main
businesses: Commercial Banking, Branch Banking, Consumer Lending,
and Investment Advisors. Fifth Third also has an 18.3% interest in
Vantiv Holding, LLC. Fifth Third is among the largest money
managers in the Midwest and, as of March 31,
2016, had $303 billion in
assets under care, of which it managed $26
billion for individuals, corporations and not-for-profit
organizations. Investor information and press releases can be
viewed at www.53.com. Fifth Third's common stock is traded on the
Nasdaq® Global Select Market under the symbol "FITB." Fifth Third
Bank was established in 1858. Member FDIC, Equal Housing
Lender.
About LoanSphere
LoanSphere is Black Knight's
premier, end-to-end platform of integrated technology, data and
analytics supporting the entire mortgage and home equity loan
lifecycle – from origination to servicing to default. The platform
delivers business process automation, workflow, rules and
integrated data throughout the loan process, providing a better
user experience, cost savings and support for changing regulatory
requirements. By integrating lending functions and data, Black
Knight's LoanSphere helps lenders and servicers reduce risk,
improve efficiency and drive financial performance.
Clients that use multiple LoanSphere offerings, such as Empower
and/or LendingSpace; Exchange, Quality Insight or Closing Insight;
and MSP, are considered Black Knight Enterprise clients and can
realize exponential value from the integration of these
technologies, as well as the utilization of Black Knight's
comprehensive data and analytics.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity
National Financial (NYSE:FNF) company, is a leading provider of
integrated technology, data and analytics solutions that facilitate
and automate many of the business processes across the mortgage
lifecycle.
Black Knight Financial Services is committed to being a premier
business partner that lenders and servicers rely on to achieve
their strategic goals, realize greater success and better serve
their customers by delivering best-in-class technology, services
and insight with a relentless commitment to excellence, innovation,
integrity and leadership. For more information on Black Knight
Financial Services, please visit www.bkfs.com.
For more information:
Michelle Kersch
Black Knight Financial
Services
904.854.5043
michelle.kersch@bkfs.com
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SOURCE Black Knight Financial Services, Inc.