JACKSONVILLE, Fla.,
Feb. 1, 2017 /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 MUFG
Union Bank, one of the world's leading financial groups, has agreed
to implement Black Knight's LoanSphere Data Hub to provide broader
and deeper insight into the bank's mortgage portfolio to help
reduce operational risk and improve efficiency.
"We are excited about further expanding our relationship with
Black Knight and taking advantage of the multiple opportunities our
business will receive by incorporating the Data Hub into our
company's data strategy," said Jim
Francis, head of Consumer Lending for MUFG Union Bank. "By
centralizing our data and then leveraging new capabilities, we will
create deeper levels of information into our operations to gain
greater insight."
As an example, Data Hub can help clients identify when a bank
customer's home is put on the market and automatically notify the
call center or loan officer of that potential lead through the
lender's sales management system. Data Hub can also be used to
alert servicers when a loan in their portfolio is approaching
critical dates, based on regulatory directives and client
configurations, so appropriate action can be taken before the
deadline has passed.
"There are tremendous opportunities for Black Knight to
transform raw data into important and actionable insights, helping
our clients to proactively prevent risk, generate new business and
increase efficiencies," said Jerry
Halbrook, president of Black Knight's Origination
Technologies and Enterprise
Business Intelligence divisions. "We are looking forward
to further supporting MUFG Union Bank's business goals with the
comprehensive, trusted data and actionable insights that Black
Knight's Data Hub will provide."
Black Knight's LoanSphere Data Hub went into production at a
top-10 lender/servicer at the end of 2016.
About MUFG Union Bank, N.A.
MUFG Union Bank, N.A., is
a full-service bank with offices across the United States. We provide a wide spectrum
of corporate, commercial and retail banking and wealth management
solutions to meet the needs of customers. We also offer an
extensive portfolio of value-added solutions for customers,
including investment banking, personal and corporate trust, global
custody, transaction banking, capital markets, and other services.
With assets of $120.0 billion, as of March 31, 2016, MUFG Union Bank has strong
capital reserves, credit ratings and capital ratios relative to
peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ
Financial Group (NYSE: MTU), one of the world's largest financial
organizations with total assets of approximately ¥295.8 trillion
(JPY) or $2.5 trillion (USD)1, as of
December 31, 2015. The corporate
headquarters (principal executive office) for MUFG Americas
Holdings Corporation, which is the financial holding company and
MUFG Union Bank, is in New York
City. The main banking office of MUFG Union Bank is in
San Francisco, California.
(1) Exchange rate of 1 USD=¥120.6
(JPY) as of December 30, 2015
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) 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.