JACKSONVILLE, Fla.,
June 3, 2019 /PRNewswire/ -- Black
Knight, Inc. (NYSE: BKI) announced today that U.S. Bank, the
fifth largest commercial bank in the
United States, will implement Empower, Black Knight's loan
origination system (LOS), to manage loans purchased via its
correspondent and HFA lending channels. Empower has been
significantly enhanced to include correspondent lending
functionality, assess loan quality and help mitigate risk. Today,
lenders can use the omni-channel Empower loan origination system to
support their retail, wholesale, assumptions, home equity,
consumer-direct and correspondent lending business -- all on a
single platform.
"Aligning with Black Knight's Empower for our Correspondent and
HFA business serves our forward-looking vision of providing
innovative capabilities that advance the lending process and
provide a better client experience," said Tom Wind, executive vice president, U.S. Bank.
"Expanding our enterprise relationship with Black Knight allows us
to enhance our digital capabilities and customer experience
throughout the entire homeownership cycle."
U.S. Bank will also use Black Knight's artificial intelligence
solution, AIVA, for document classification, data extraction and
exception management. AIVA is a cloud-based tool that uses machine
learning to automate certain tasks, performing them much faster and
more accurately than humans can. By delivering greater automation,
accuracy and efficiency to the loan origination process, AIVA can
help lenders complete repetitive processing tasks so that staff can
be utilized for exception-based processing and enhancing customer
satisfaction.
Additionally, Empower is seamlessly integrated with Black
Knight's industry-leading MSP servicing platform, which U.S. Bank
uses to support its servicing operations. The tight integration of
these two systems helps streamline the loan boarding process for
greater efficiency, increased data integrity and reduced risk. This
seamless servicing experience can also result in higher customer
satisfaction levels and ultimately increase customer retention.
"Enhancing Empower to fully support all lending channels is part
of our vision to provide end-to-end support across the loan life
cycle," said Anthony Jabbour, CEO,
Black Knight. "By adding Empower to the number of our solutions
U.S. Bank uses, they are well-positioned to realize the exponential
value that comes from using multiple Black Knight products across
the enterprise."
About U.S. Bancorp
U.S. Bancorp, with 74,000
employees and $476 billion in assets
as of March 31, 2019, is the parent
company of U.S. Bank, the fifth-largest commercial bank in
the United States. The
Minneapolis-based bank blends its
relationship teams, branches and ATM network with mobile and online
tools that allow customers to bank how, when and where they prefer.
U.S. Bank is committed to serving its millions of retail, business,
wealth management, payment, commercial and corporate, and
investment services customers across the country and around the
world as a trusted financial partner, a commitment recognized by
the Ethisphere Institute naming the bank a 2019 World's Most
Ethical Company. Visit U.S. Bank at usbank.com or follow on social
media to stay up to date with company news.
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 life cycle.
As a leading fintech, 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:
Michelle
Kersch
|
Mitch
Cohen
|
Black Knight,
Inc.
|
Black Knight,
Inc.
|
904.854.5043
|
704.890.8158
|
michelle.kersch@bkfs.com
|
mitch.cohen@bkfs.com
|
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SOURCE Black Knight, Inc.