Black Knight’s Borrower Digital leverages connectivity with Empower to give lenders a competitive edge
Borrower Digital is Black Knight’s point-of-sale (POS) solution that is built using responsive-design to be used easily from any web-enabled device. The solution leverages the power of innovative, integrated technologies to not only simplify the mortgage application and approval process for borrowers, but also to improve the backend process for loan officers. Featuring pre-configured connectivity with Empower, Black Knight’s powerful loan origination system (LOS), Borrower Digital helps lenders gain a competitive edge by providing a superior mortgage experience for their customers.
When a lender implements a third-party POS system, the number of features offered by the provider which can be used depends upon the quality and depth of the integration with the LOS. Borrower Digital helps mortgage lenders optimize the POS and LOS interaction using the LOS database for transactional data.
For clients using Empower, all data is stored in Empower and accessed using APIs. This means data captured in Borrower Digital is readily available to lender users.
Borrower Digital also helps the borrower track progress throughout the origination process by notifying them immediately of any changes, and by using artificial intelligence and machine learning document classification to manage documents provided by borrowers to clear conditions.
Borrower Digital is further enhanced with Black Knight’s companion solution Loan Officer Digital. Loan Officer Digital is an intuitive dashboard that allows loan officers to easily follow borrowers throughout the loan approval process from a single, mobile-friendly location and by allowing all involved parties to view similar workflow dashboards. Using this dynamic, configurable and responsive-web solution, loan officers can access the tools they need to help the consumer whether on the go, at home or in the office. These tandem solutions enable loan officers to deliver enhanced customer service and significantly improve the overall customer experience.
“Black Knight is continually pushing the frontiers of mortgage technology and Borrower Digital is no exception,” said Rich Gagliano, president of origination technologies. “Both Borrower Digital, and its companion solution Loan Officer Digital, are a comprehensive rethinking of the loan application process for both loan officers and borrowers, and the ease-of-use and the enhanced experience for users on both sides of the process are testaments to Black Knight’s commitment to innovation.”
Borrower Digital creates a simple, intuitive Q&A process that guides borrowers through prequalification, preapproval, full application and refinance. It validates both data and documents and alerts the borrower of immediate next steps, which helps reduce cycle times and back-and-forth between the borrower and the loan officer.
“Borrower Digital offers significant configurability to allow lenders to tailor the experience to their client,” said Craig Rebmann, managing director of origination technologies product management. “Borrower Digital’s robust self-service functionality, advanced automation capabilities and deep integrations result in an unmatched borrower experience from start to finish.”