Black Knight Inc.
and Quicken Loans
have announced the broadening of their existing business relationship, with the Detroit-based lender extending its contract for Black Knight’s MSP servicing system, while the Jacksonville, Fla.-based data vendor has purchased the source code for Quicken Loans’ Cyclops mortgage servicing customer relationship management software.
The financial terms of the deal were not disclosed. Quicken Loans stated that it will be among the first use Black Knight’s customer service solution, while Black Knight plans to use Cyclops as the foundation for a customer service solution the company will be offering to the clients of its MSP servicing system.
“After decades of disruption, this acquisition is further proof of our technology team’s power and innovation,” said Jay Farner, CEO of Quicken Loans. “Our focus is always on our clients and how we can make their experience easier and more transparent. Our success comes from groundbreaking technology and the streamlined processes it can provide. We are looking forward to Cyclops benefiting even more consumers with the industry-leading client service the tool can facilitate.”
Anthony Jabbour, CEO of Black Knight, said: “Black Knight continues to innovate with urgency. We are committed to developing best-in-class solutions and, when appropriate, acquiring proven technologies to accelerate our time to market for our clients. We share a common vision with Quicken Loans for the future of customer service, and by building upon its proven platform, we are able to accelerate the delivery of this powerful solution. Quicken Loans has been a long-time client, and we are excited to broaden our relationship with them.”