Black Knight Introduces Digital Origination Suite; Enhances Mortgage Application and Approval Process for Loan Officers and Borrowers Alike
Black Knight, Inc. (NYSE:BKI) announced on Sept. 17, 2020, the launch of two digital solutions: Borrower Digital and LO Digital. These innovations enhance the loan application process for consumers and loan officers by utilizing AI and user-friendly interfaces. Borrower Digital streamlines the application via an intuitive Q&A format, while LO Digital allows loan officers to manage applications from any device. This suite aims to improve efficiency, enhance customer service, and provide a competitive edge in the mortgage market.
- Launch of Borrower Digital simplifies the loan application process.
- LO Digital enables loan officers to manage applications remotely.
- Integration with Empower LOS and MSP servicing system enhances operational efficiency.
- None.
JACKSONVILLE, Fla., Sept. 17, 2020 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI), a leading provider of integrated software, data and analytics to the mortgage and real estate industries, today announced the launch of two new digital solutions to advance the loan application and approval process for both consumers and loan officers. The suite of user-centric, responsive web-designed solutions includes Borrower Digital and LO Digital. Borrower Digital simplifies the loan application process by leveraging Black Knight's artificial intelligence capabilities at the point of sale and throughout the approval process, while LO Digital gives loan officers the ability to provide superior support to their customers anytime, anywhere.
"The past six months have clearly demonstrated the need to be able to work from anywhere. LO Digital now brings that ability to loan officers everywhere," said Rich Gagliano, president of Black Knight Origination Technologies. "Combined with the intuitive functionality the Borrower Digital application brings to the customer experience, Black Knight has further transformed, streamlined and simplified the loan prequalification and application process for everyone involved."
Borrower Digital guides the homebuyer through the prequalification, preapproval and refinance process via a simple, intuitive Q&A format, validating data and documents along the way. Its automated workflow alerts the homebuyer about immediate next steps, providing a self-guided process for the customer. AIVA, Black Knight's artificial intelligence solution, helps the borrower upload identification and other supporting documentation, while assessing whether the appropriate documents were received. Information is routed from the consumer to the loan origination system and vice versa, with AIVA providing near-real-time feedback.
LO Digital is designed specifically for loan officers to manage the details of each application through an intuitive dashboard, allowing them to easily lead the homebuyer throughout the mortgage application process, respond to borrower questions along the way, and view the same information the borrower sees. The solution also provides a single application for loan officers to access loan products, pricing, pipeline, rate-locking, loan status and automated third-party service orders. With its tight integration to Black Knight's Empower loan origination system (LOS), loan officers can work within the LOS Digital application from any mobile device, while simultaneously updating the loan information in Empower, eliminating the need to rekey data and confirming data integrity and consistency from the beginning of the loan process. Ultimately, all information gathered in LO Digital and updated in Empower can be seamlessly transferred to the MSP servicing system at loan boarding and integrated with Black Knight's consumer-facing Servicing Digital solution.
"Black Knight is leveraging the power of innovative and integrated technologies to not only simplify the mortgage application and approval process, but to improve upon it for both the consumer and the loan officer," Gagliano continued. "By bringing anytime-anywhere functionality to loan officers and giving them a real-time view into the consumer's application process, our digital originations suite can help our clients gain a competitive edge by providing extraordinary customer service and a superior mortgage experience."
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.
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SOURCE Black Knight, Inc.
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