Black Knight Enhances Groundbreaking, Consumer-Facing Servicing Digital Solution Via Integrations With Company's Technology Ecosystem and Beyond
Black Knight, Inc. (NYSE: BKI) has announced enhancements to its Servicing Digital solution, integrating it with various products including loss mitigation and automated valuation models.
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Rhea-AI Summary
Black Knight, Inc. (NYSE: BKI) has announced enhancements to its Servicing Digital solution, integrating it with various products including loss mitigation and automated valuation models. This interactive platform offers consumers timely mortgage information and self-service options, promoting a transparent user experience. The integration allows for personalized refinance pricing and streamlines assistance requests for clients in financial distress. The updates aim to improve customer retention and satisfaction, addressing the increasing demand for digital mortgage solutions.
Positive
- Enhanced Servicing Digital integrates with loss mitigation and AVM solutions.
- Offers personalized refinance pricing, improving consumer access.
- Successful adoption from new and existing clients indicates strong demand.
Negative
- None.
Details
News Market Reaction – BKI
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JACKSONVILLE, Fla., Aug. 4, 2021 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI), a leading provider of software, data and analytics to the mortgage and consumer loan, real estate and capital markets verticals, announced it has enhanced its innovative Servicing Digital solution by integrating it to several of the company's other products, including its loss mitigation, automated valuation model (AVM), and product, pricing and eligibility (PPE) solutions.
Servicing Digital, an interactive, consumer-facing web and mobile solution, provides Black Knight servicing clients' customers with timely, customized information about their mortgages and homes, as well as a wide variety of self-service capabilities. The new integrations add features and enhance capabilities that benefit both customers and servicers, while providing consumers with a more transparent and consistent mortgage experience.
"From the beginning, Black Knight's vision for Servicing Digital has been to help servicers provide consumers with a one-stop shop for all tasks related to their mortgage and home throughout the servicing journey," said Joe Nackashi, president of Black Knight. "In just two years, we've seen significant demand for our Servicing Digital solution from new and existing servicing clients – a testament to the fact that today's consumers are hungry for digital capabilities that complement their busy lives."
Integrated AVMs from Black Knight's Collateral Analytics allow consumers to track the current value of their home within Servicing Digital, leveraging the same models used by lenders to underwrite loans, calculate refinancing opportunities and evaluate portfolios.
Black Knight has also added an integration with its Optimal Blue PPE – the most widely used product and pricing engine in the mortgage industry – to give consumers access to personalized refinance pricing and eligibility from the convenience of any device, at any time, in any location. This gives servicers a mechanism to automatically share detailed information with consumers, helping to deepen customer relationships and provide recapture opportunities to improve retention.
Black Knight has also integrated Servicing Digital with its Loss Mitigation solution, which lets customers initiate requests for assistance or modifications through an advanced self-service prompt within the app as a digital alternative to calling customer service. The integration results in significant efficiencies, particularly in light of the large volumes of post-forbearance workout plans servicers will be facing in the coming months. Likewise, a direct integration with Black Knight's Bankruptcy solution enables customers in bankruptcy to access current loan information and send secure messages to their servicers.
Leveraging a robust, API-forward approach to innovation, Black Knight has also enabled connections to insurance marketplaces and home project management services, giving customers the power to browse and select homeowners insurance policies directly within Servicing Digital.
"The power of Black Knight is that we are able to bring many of our solutions together to create a better experience for the customer and create efficiencies for servicers," said Nackashi. "With retention rates near historic lows, a growing number of servicers are realizing that delivering a superior customer experience is instrumental to success. Black Knight remains committed to delivering integrated solutions, such as Servicing Digital, that help servicers exceed their customers' expectations."
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.
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Michelle Kersch | Mitch Cohen |
Black Knight, Inc. | Black Knight, Inc. |
904.854.5043 | 704.890.8158 |
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SOURCE Black Knight, Inc.
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