Cathay Bank Signs Agreement to Implement the Empower Now! Solution to Support Mortgage and Home Equity Originations
December 06 2017 - 5:00PM
Black Knight, Inc. (NYSE:BKI) announced today that Cathay Bank, a
subsidiary of Cathay General Bancorp (NASDAQ:CATY) and listed on
the Forbes list of “Best Banks in America,” has signed an agreement
to implement the Black Knight LoanSphere Empower loan origination
system (LOS) leveraging the Empower Now! implementation model.
Empower Now! is a lower-cost implementation approach designed
specifically for mid-tier financial institutions to provide a
quicker deployment of Black Knight’s enterprise platform.
Empower Now! offers mid-market lenders the option of
implementing LoanSphere Empower functionality under a core
configuration that has been developed based on common practices
among many of the nation’s top lending institutions. Once deployed,
lenders can then refine that configuration as their needs dictate,
and the scalability of Empower Now! allows them to remain on the
same system as their businesses grow.
LoanSphere Empower is a comprehensive origination platform that
many of the nation’s top lenders use to support their retail,
wholesale, consumer direct and home equity channels. Empower helps
lenders electronically capture, process, underwrite and close
loans. Empower Now! delivers the same enterprise Empower components
and integrations, but can be implemented in a reduced timeline and
at a significantly lower cost.
“We are ready to deliver all of the competitive advantages that
the Empower Now! solution offers to help Cathay Bank as it expands
its lending operations,” said Rich Gagliano, president, Black
Knight Origination Software division. “By providing robust LOS
capabilities with an accelerated implementation timeline and a cost
structure that aligns with mid-market lenders’ needs, we believe
Cathay Bank is well-positioned to support its successful lending
operation today, as well as in the future.”
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.
About Black Knight
Black Knight (NYSE:BKI) is a leading provider of
integrated software, data and analytics solutions that facilitate
and automate many of the business processes across the
homeownership lifecycle.
Black Knight is committed to being a premier business
partner that clients rely on to achieve their strategic goals,
realize greater success and better serve their customers by
delivering best-in-class software, services and insights with a
relentless commitment to excellence, innovation, integrity and
leadership. For more information on Black Knight, please visit
www.blackknightinc.com.
For more information:
Media contact:Michelle
Kersch904.854.5043michelle.kersch@bkfs.com
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