Today Black Knight Inc., announced that CIMB Bank signed an agreement to use Black Knight Empower loan origination system (los) and other integrated solutions to support the growing digital demand of their customers.
CIMB Bank is a mid-market banking and financial solutions provider, located in Illinois, Indiana, and Wisconsin. "We've found great success with Black Knight's secondary market solutions, which have helped us achieve record results,” said Gary Maughan, executive vice president, CIBM Mortgage. “Now we look forward to expanding our working relationship leveraging the Empower LOS and Black Knight's full suite of integrated origination solutions.”
Black Knight’s Empower system supports the origination of first mortgages and home equity loans for retail, wholesale, consumer direct, assumptions and correspondent lending channels, all on a single platform. The entire loan origination process is streamlined and easy-to-use with features like "lights-out" automation that will save CIBM Bank time and costs per loan. This also helps staff process loans more quickly and deliver a better borrower experience.
Additional solutions are integrated with Black Knight’s Empower, such as machine-learning technology for document classification and indexing; a fee service for recording fees, transfer taxes, title, inspections and property tax; point-of-sale with digital loan capabilities; automated compliance validation testing; as well as digital end-to-end close solutions with eDelivery, eSign and eNotary capabilities.
“By adding Black Knight's LOS and suite of origination solutions, CIBM Bank will be able to better support its customers and realize greater operational efficiencies that will support its significant business growth,” said Rich Gagliano, president of Black Knight Origination Technologies.
“With Empower and the additional Black Knight solutions, we will gain a new level of digital and automated capabilities that will help us better achieve our business goals and enhance the service we provide to our borrowers," added Maughan.
