Industry leading Black Knight LOS saves time and money
– Empower Loan Disbursement System (LOS) offers advanced automation and seamless integration that will help CIBM Bank scale its operations and support business growth.
– CIBM Bank will also leverage the full suite of Black Knight source solutions, including artificial intelligence, commissions, eClose, point of sale with digital loan officer capabilities, compliance automation and actionable intelligence to maximize the efficiency of its lending operations.
– As a current customer of Black Knight Secondary Marketing Technologies for pricing and compliance with product requirements and hedging services, CIBM Bank will benefit more from the Black Knight ecosystem by leveraging the company’s end-to-end technology solutions.
JACKSONVILLE, Florida., August 25, 2021 / PRNewswire / – Today, Black Knight, Inc. (NYSE: BKI) announced that CIBM Bank, a provider of banking and finance solutions for midsize businesses with offices in Illinois, Indiana and Wisconsin, signed an agreement to use the Black Knight Empower (LOS) Loan System and associated integrated solutions to support its growing operations and customer digital needs.
“With Empower and complementary Black Knight solutions, we will move to a new level of digital and automated capabilities that will help us better achieve our business goals and improve the services we provide to our borrowers,” said Gary Mogan, executive vice president of CIBM Mortgage. “We have had great success with Black Knight’s aftermarket solutions that have helped us achieve record-breaking results, and we now look forward to expanding our working relationship with Empower LOS and Black Knight’s full suite of integrated source data solutions.”
Empower supports the disbursement of the first mortgages and real estate loans, as well as support for retail, wholesale, direct consumers, assumptions and related lending channels – all on a single platform. An easy-to-use and highly customizable platform helps streamline the application creation process from loan application to closing. Empower implements customizable light-off automation that will save CIBM Bank loan time and costs, and help staff process additional loans faster and provide better service to borrowers.
CIBM Bank will also use several complementary solutions fully integrated with Empower to support its lending operations. These include machine learning technology for document classification and indexing; registration fees, transfer taxes, inspections and property tax; point of sale with digital loan officer capabilities; automated testing for compliance with requirements; complete digital closure solution with eDelivery, eSign and eNotary capabilities; and an advanced business intelligence solution for actionable analytics.
“We are delighted to expand our relationship with CIBM Bank and provide more digital opportunities for its operations,” said Rich Galliano, President, Black Knight Origination Technologies. “With the addition of LOS Black Knight and a set of source solutions, CIBM Bank will be able to better support its customers and achieve greater operational efficiency, which will support its significant business growth.”
About CIBM Bank
CIBM Bank is a 100% subsidiary of CIB Marine Bancshares, Inc., located in Champaign, Illinois, we provide personalized banking and related finance solutions to small and medium-sized businesses, their owners and employees, and consumer households in our communities. We use our entire banking team to provide our clients with the highest quality services with a high level of professionalism and integrity. We run our company to support the sustainable success of our clients, contribute to the quality of life and economic development of our communities, provide opportunities for growth and encourage our people to add value to our shareholders.
About Black Knight
Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in mortgage lending and services, real estate, capital and secondary markets. Businesses use our robust, integrated solutions throughout the home ownership lifecycle to help retain existing customers, attract new customers, reduce risk, and operate more efficiently.
Our customers rely on our proven, comprehensive, scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information on Black Knight visit www.blackknightinc.com…
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SOURCE Black Knight, Inc.