Black Knight Inc (NYSE:BKI) has today moved ahead to make the pronouncement that JPMorgan Chase & Co (NYSE:JPM) has agreed to sign a contract targeted at the implementation of the LoanSphere Empower loan origination system (LOS).
The plan is for JPMorgan Chase to take advantage of Empower’s robotics capabilities since that is the ideal way to automate specific processing tasks and that will be in total alignment to the bank’s origination requirements.
Basically, the advanced technology will be driven by a robust, task-based workflow orchestration engine. It will be automating the various processes deemed crucial to originating a loan associated with a top level compliance and efficiency as well.
The head of Consumer Originations for Chase Home Lending Sean Grzebin opined, “Customers rely on Chase digital offerings throughout their daily lives. 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 Origination Technologies division president Rich Gagliano while moving out of a business conference that was held recently spoke on the latest developments. He said that as a company they had been looking forward to establishing a strong relationship with JPMorgan Chase .It was insisting that the only way to achieve that particular objective was by making major expansions in terms of the value they would be delivering in offering services and working solutions in the whole of the loan life cycle as well as in the origination capabilities.
Black Knight concerns itself with doing all it can towards assisting the large number of lenders cut down on the operational costs, improve the loan quality as well as tone down the associated risk. Through the company’s top notch solutions, the bank as well as its wide customer base will be in a position to benefit from the most recent developments.
Much is happening at the moment. And on that particular note it is crucial to outline that the ever shifting business dynamics are in a major way impacting the way different businesses move about their business operations. The two business giants are looking forward to achieving immense business success in the near future.