Looking toward 2019, the mortgage industry anticipates a continuous rise in interest rates and a slowdown in refinances and new home loans, which will put more emphasis on customer retention and growth. Lenders and servicers will also be expected to increase efforts for both consolidation and integration of proven solutions to drive down costs and increase efficiencies.

magAs a leading mortgage industry provider, Black Knight launched multiple high-performance software, data and analytics solutions to help lenders and servicers achieve these goals and exceed consumer expectations.

The Actionable Intelligence Platform (AIP) was developed by Black Knight to consolidate the company’s wide breadth of industry data with proprietary analytics into one unified delivery framework. The AIP delivers strategic, proactive and actionable analytics to the right people across an organization to help executives, managers and employees know the right actions to take at the right time. AIP also supports data analysts by providing faster insights that can be leveraged for lead generation, retention and other use cases.

To further support retention and growth, Black Knight created the Rapid Analytics Platform (RAP), a game-changing virtual analytics lab that provides users a single workspace to source data, execute queries and train machine learning and neural networks.

RAP allows users to create endless opportunities by accessing Black Knight’s premier data assets and analytics – with the option to include users’ own data – to build and apply models, and utilize a performance-tuned, interactive data science environment designed for real-time, high-speed processing. From product development, lead generation and retention to valuation, risk management, research and reporting, RAP can be leveraged for an unlimited number of use cases across the loan life cycle.

Artificial intelligence (AI) is revolutionizing the mortgage industry by taking on manual, repetitive tasks to help increase efficiency, productivity and accuracy. “To help reduce turn times and costs, Black Knight’s machine learning technology, AIVA, is a state-of-the-art virtual assistant that can help significantly increase the speed that ‘stare and compare’ tasks can be completed, so our clients can focus more on growth strategies or other customer-facing initiatives,” said Joe Nackashi, president of Black Knight. “As AIVA increases knowledge and integrates manual routines for automation, lenders will be able to shift their focus toward more challenging projects that require human insight and creativity.”

Black Knight has also delivered its Servicing Digital solution to address consumer demands to make payments via smartphone, and help servicers drive more growth and improve customer retention. Using Servicing Digital’s Loan Dashboard, consumers can quickly access from their mobile device detailed, timely and relevant information about their loan, home and neighborhood, as well as perform various self-service functions, such as making a loan payment , viewing payment history, requesting to remove PMI and more. This consumer-centric mobile solution is available as both a native app and a web-based solution.

“By leveraging the unique advantages only Black Knight can offer through its integrated, end-to-end technology, data and analytics across the loan life cycle, clients can optimize results and perform stronger in today’s highly competitive marketplace,” Nackashi said.

Fast Facts:

  • Mission: to deliver innovative, seamless, integrated products across the homeownership life cycle as the mortgage industry’s leading provider of software, data and analytics solutions.
  • Advanced, proven systems and solutions for origination, servicing and default.
  • Leading source of mortgage and property data, including approximately 180 million first mortgage records; over 20 million home equity loan records; an industry-leading property database representing 99.9% of U.S. population; and historical data on over 580 million real estate transactions.