- The Empower loan origination system (LOS) offers the advanced automation and seamless integration capabilities that will help CIBM Bank scale its operations and support its business growth
- CIBM Bank will also use Black Knight’s full suite of origination solutions, including artificial intelligence, fee service, eClose, point-of-sale with digital loan officer capabilities, compliance automation, and actionable intelligence to maximize efficiencies in its lending operations
- As a current Black Knight Secondary Marketing Technologies client for pricing and product eligibility and hedging services, CIBM Bank will realize more benefits from the Black Knight ecosystem with its use of the company’s comprehensive origination technology solutions
JACKSONVILLE, Fla. – Aug. 25, 2021 – Today, Black Knight, Inc. (NYSE:BKI) announced that CIBM Bank, a mid-market banking and financial solutions provider with locations in Illinois, Indiana and Wisconsin, has signed an agreement to use the Black Knight Empower loan origination system (LOS) and related integrated solutions to support its growing operations and the digital demand of customers.
“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,” said Gary Maughan, executive vice president, CIBM Mortgage. “We’ve found great success with Black Knight’s secondary market solutions, which have helped us achieve record results, and now we look forward to expanding our working relationship leveraging the Empower LOS and Black Knight’s full suite of integrated origination solutions.”
The Empower system supports the origination of first mortgages and home equity loans, and supports retail, wholesale, consumer direct, assumptions and correspondent lending channels, all on a single platform. The easy-to-use and highly configurable platform helps streamline the origination process from loan application through closing. Empower features configurable “lights-out” automation that will save CIBM Bank time and costs per loan, while helping staff process additional loans more quickly, and deliver an enhanced borrower experience.
To support its lending operations, CIBM Bank will also use several additional solutions that are seamlessly integrated with Empower. These include machine-learning technology for document classification and indexing; fee service for recording fees, transfer taxes, title, inspections and property tax; point-of-sale with digital loan officer capabilities; automated compliance validation testing; an end-to-end digital close solution with eDelivery, eSign and eNotary capabilities; and an advanced business intelligence solution for actionable analytics.
“We’re pleased to expand our relationship with CIBM Bank and deliver more digital capabilities to its operations,” said Rich Gagliano, president, Black Knight Origination Technologies. “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.”
About CIBM Bank
CIBM Bank is a wholly owned subsidiary of CIB Marine Bancshares, Inc. Based in Champaign, Illinois, we provide personalized banking and related financial solutions to small and middle market businesses, their owners and employees, and consumer households in our communities. We leverage our entire banking team to provide our clients superior service with a high degree of professionalism and integrity. We operate our company to support our clients’ enduring success, contribute to our communities’ quality of life and economic development, provide growth opportunities and challenge our employees to increase value for our shareholders.
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.