- JPMorgan Chase will use the LoanSphere Empower loan origination system (LOS) to originate home equity loans on a single platform.
- The home equity business will also take advantage of Empower’s automation and integrations with third-party service providers to enhance efficiencies and reduce cycle times throughout the loan production process.
- JPMorgan Chase uses a wide range of Black Knight solutions across the loan lifecycle.
JACKSONVILLE, Fla. – April 4, 2018 – Black Knight, Inc. (NYSE:BKI) announced today that JPMorgan Chase, a leading global financial services firm, has signed a contract to implement the LoanSphere Empower loan origination system (LOS) to support its home equity originations business.
JPMorgan Chase will use Empower’s robotics capabilities to help automate certain processing tasks based on the bank’s origination requirements. This advanced technology is powered by a robust, task-based workflow orchestration engine that automates the processes necessary to originate a loan with a high level of efficiency and compliance.
“Customers rely on Chase digital offerings throughout their daily lives,” said Sean Grzebin, head of Consumer Originations for Chase Home Lending. “This strategic partnership with Black Knight will enable us to deliver a seamless, digital experience for customers who want to access the equity in their homes.”
“Black Knight is proud to build on our strong relationship with JPMorgan Chase by expanding the value we deliver in origination capabilities and providing solutions and service across the entire loan life cycle,” said Rich Gagliano, president, Black Knight Origination Technologies division. “Black Knight helps lenders drive down operational costs, reduce risk and improve loan quality. Through our advanced solutions, JPMorgan Chase and its customers will enjoy these benefits, as well as a more dynamic and accessible loan origination experience.”
LoanSphere is Black Knight’s premier, end-to-end platform of integrated software, data and analytics supporting the entire mortgage and home equity loan lifecycle – from origination to servicing to default. The platform delivers business process automation, workflow, rules, and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight’s LoanSphere helps lenders and servicers reduce risk, improve efficiency, and drive financial performance.
About Black Knight
Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership.