HomeBlog HomeBlog FeedActionable Intelligence Platform℠: Changing How the Mortgage Industry Uses Analytics

Actionable Intelligence Platform℠: Changing How the Mortgage Industry Uses Analytics

Actionable Intelligence Platform℠: Changing How the Mortgage Industry Uses Analytics

Black Knight’s Actionable Intelligence Platform℠ (AIP℠) is a leading-edge solution that integrates the company’s extensive data, proprietary analytics and advanced technology to deliver actionable analytics at the time of need to help clients drive desired behaviors across an organization.

The AIP represents the next stage in the evolution of data and analytics for the mortgage industry. Traditionally, business intelligence has consisted of reports and visualizations that look back at a snapshot in time. The AIP, on the other hand, leverages data and predictive analytics to deliver information that drives immediate action, helping employees and the organization perform at optimal levels.

With Black Knight’s depth and breadth of data assets across the loan life cycle, years of industry experience, and technology integrations, we are in a unique position to offer this solution. We continually ask for clients’ input to find out their pain points and needs, so we can build out the analytics that address their challenges.

Because the AIP is fully integrated with Black Knight’s suite of products, and can connect to third-party production systems, we are able to provide this near real-time feedback. As events and activities occur in a loan origination or servicing system, the AIP generates and delivers analytics at the precise moment they are needed.

Taking Business Intelligence to the Next Level

The AIP is also unique in that its analytics are geared to specific employee levels within an organization. For example, the platform provides executives with Strategic Analytics that deliver macro views of the organization’s performance. This insight is used to help with executive-level decisioning.

The platform’s Proactive Analytics help managers become more aware of the exceptions and activities that require attention. These analytics are used by managers to adopt a more proactive approach, and recommend appropriate actions and solutions to improve department-level performance.

For front-line employees, the AIP provides Actionable Analytics that communicate a specific action – or actions — at the time of need so the employee can take immediate steps to address the situation.

Since an executive, manager and front-line employee each tend to consume analytics differently, we developed the AIP to deliver actionable intelligence in a way that makes the most sense for each role. For example, analytics are provided in dashboards and summary reports, which are geared to executives and managers. Email alerts, texts and mobile-app notifications are delivered to front-line employees, as well as their managers, enabling them to take immediate action.

Simplifying the Delivery and Consumption of Analytics

To provide clients with the most benefits, and to help simplify the way they consume the information, every analytic we build supports one of the following critical performance categories: revenue, efficiency or compliance. And, each of the analytics in these categories have numerous use cases.

In the revenue category, for instance, the AIP delivers analytics that rank customers by their propensity to transact, so lenders can initiate proactive and early outreach to consumers that qualify for an offer — and more importantly — have a high chance of accepting it. The analytics can leverage a bank’s retail customer data and combine it with our vast data assets to predict new home purchases, home equity loans and lines, and refinances. Clients can know the 30-90 day likelihood of a consumer obtaining one of these products based on the algorithms and models within the AIP.

AIP’s efficiency analytics help drive action by automatically and continually evaluating actual performance-to-goal. These analytics track, monitor, and optimize department-level efficiency and performance in a variety of areas, including underwriting, processing, closing and post-closing.

In the compliance category, we offer a variety of client-configurable analytics that help both lenders and servicers proactively address potential issues and to avoid violations and costly fines. We have analytics developed specifically to track TRID compliance, as well as other key areas critical to the origination process. And for servicers, we offer analytics that alert them of activities that fall outside of their specified tolerance levels.

Transforming the Way Lenders and Servicers Leverage Big Data

Because the AIP delivers intelligence that is actionable at the moment needed, and to specific employee levels within an organization, the solution is transforming the way lenders and servicers leverage big data. The AIP makes vast amounts of data easily consumable for clients and enables them to take advantage of this extensive and critical information in a cost-effective way.

Black Knight will continue to leverage data to help drive action in our clients’ day-to-day processes, which ultimately leads to greater success. With the AIP, there is virtually no limit to the amount of actionable intelligence we can deliver in this new stage of data and analytics for the mortgage industry.