JACKSONVILLE, Florida, June 3, 2019 / PRNewswire / – Dark Knight, Inc. (NYSE: BKI) announced today that American Bank, the fifth largest commercial bank in United States, will implement Empower, Black Knight’s Loan Origination System (LOS), to manage loans purchased through its correspondents and HFA lending channels. Empower has been significantly enhanced to include loan matching functionality, assess loan quality, and help mitigate risk. Today, lenders can use the Empower omnichannel loan origination system to support their retail, wholesale, mortgage, home equity, direct-to-consumer, and correspondent lending businesses, all at one platform.
“Aligning with Black Knight’s Empower for our Correspondent and HFA business serves our forward-looking vision of delivering innovative capabilities that advance the lending process and deliver a better customer experience,” said Tom wind, executive vice president, US Bank. “Expanding our corporate relationship with Black Knight allows us to enhance our digital capabilities and our customer experience throughout the homeownership cycle.”
US Bank will also use Black Knight’s artificial intelligence solution, AIVA, for document classification, data mining and exception handling. AIVA is a cloud-based tool that uses machine learning to automate certain tasks, performing them much faster and more accurately than humans. By providing increased automation, accuracy and efficiency to the loan creation process, AIVA can help lenders complete repetitive processing tasks so staff can be used for exception-based processing and improve customer satisfaction. .
Additionally, Empower is seamlessly integrated with the industry-leading Black Knight MSP service platform that US Bank uses to support its service operations. The tight integration of these two systems helps streamline the loan onboarding process for greater efficiency, increased data integrity and reduced risk. This seamless service experience can also lead to higher levels of customer satisfaction and ultimately increase customer retention.
“Improving Empower to fully support all lending channels is part of our vision to provide end-to-end support throughout the loan lifecycle,” said Anthony Jabbour, CEO, Black Knight. “By adding Empower to the number of our solutions used by US Bank, they are well positioned to realize the exponential value that comes from using multiple Black Knight products across the business.
About US Bancorp
US Bancorp, with 74,000 employees and $ 476 billion active at March 31, 2019, is the parent company of US Bank, the fifth largest commercial bank in United States. The Minneapolis-based bank combines its relationship teams, its branches and its network of automated teller machines with mobile and online tools that allow customers to carry out their banking transactions as, when and where they prefer. US Bank is committed to serving its millions of retail, business, wealth management, payments, commercial and corporate clients and investment services across the country and around the world as a financial partner Trust, a commitment recognized by the Ethisphere Institute naming the bank a World’s Most Ethical Company in 2019. Visit US Bank at usbank.com or follow us on social media to stay up to date with news from the business.
About Black Knight
Black Knight (NYSE: BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many business processes throughout the homeownership lifecycle.
As a premier fintech, Black Knight is committed to being a premier business partner that customers rely on to achieve their strategic goals, achieve greater success and better serve their customers by delivering the best software, services and information with an unwavering commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.
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SOURCE Black Knight, Inc.