Black Knight launches robotics capabilities to assist lenders

Will operate without human intervention

Black Knight recently announced it launched new robotics capabilities to its LoanSphere Empower loan origination system.

Black Knight explained the new capabilities will allow lenders to help their clients through automation and enhance overall operational efficiencies through the loan production process. Black Knight’s Empower LOS helps lenders electronically capture, process, underwrite and close loans through retail, wholesale, consumer direct and home equity lending.

Now, its advanced robotics capabilities will facilitate automated processing of designated tasks based on the lender’s configuration without the need for human interference. The technology will actively monitor the LOS for key data changes or even lack of changes in order to trigger automated or manual tasks which need to be completed.

Black Knight announced it can also trigger third-party service integrations such as flood, appraisal and title via its “lights-out processing.” This eliminates the need to manually perform many redundant tasks.

For example, if the property is not in a flood plain, then the evaluation task will automatically be checked off as completed, requiring no further action. If the subject property is in a flood plain, the system will alert the processor, and automatically prepare the borrower flood notification letter.

“Empower’s robotics capabilities can provide significant benefits to lenders, including risk mitigation, since the advanced automation helps eliminate human errors,” said Rich Gagliano, Black Knight president of the origination software division.

“With robotics, more loans can be processed, enabling clients to scale their operations and lower the average origination cost per loan,” Gagliano said. “Lenders can also benefit from decreased turn times and increased customer satisfaction because robotics can help lenders eliminate bottlenecks and speed up processes, creating an improved customer experience.”

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