Black Knight’s all-in-one technology offers a complete digital ecosystem designed to meet member needs and retail channels
– Stanford Federal Credit Union chose to implement Empower for its comprehensive and integrated capabilities to help serve its members more effectively
– Credit union chose Black Knight for its superior automation and integrations
– Cloud-based system will easily support Stanford Federal Credit Union’s growing retail and real estate capital operations on one comprehensive platform
– In addition to Empower LOS, Stanford Federal Credit Union will implement Black Knight’s full suite of origination solutions
JACKSONVILLE, Florida., April 6, 2022 /PRNewswire/ — Dark Knight, Inc. (NYSE: BKI) today announced that Stanford Federal Credit Union (Stanford FCU), founded in 1959 by a group of Stanford University employees, signed a contract to implement the Black Knight Strengthen the lending system (THE BONE). The credit union will also implement Black Knight’s suite of integrated origination solutions to help evolve its retail channel for purchase, refinance and home equity loan products and provide automation of point to improve the experience of its members.
“We selected an assembly system that could support our expected growth and provide the kind of technological advancements our members expect,” said Brian Thorton, senior vice president and chief loan officer of Stanford Federal Credit Union. “We are very excited to be working with a loan origination platform that has a proven track record of supporting lenders and multi-channel efforts, and we are ready to leverage the power of technology, automation and Black Knight’s integrated ecosystem to enhance both our operations and our member experience.”
The full integration of Black Knight’s digital ecosystem will provide Stanford FCU with a comprehensive suite of integrated technology, data and analytics solutions to enhance its retail and home equity lending channels, while supporting engagement of the credit union to serve its valued members.
With its cloud-based architecture and advanced lights-out processing, the Empower LOS platform provides Stanford FCU with exceptional technology capabilities, including integration with the industry’s leading product and pricing engine. industry of Optimal Blue, a division of Black Knight. The credit union will also use a digital point-of-sale solution that improves the mortgage application process for borrowers and loan officers; machine learning technology for document classification and indexing; a digital fence solution with e-delivery and e-signature capabilities; a comprehensive fee service to help mitigate fee cures; automated compliance validation tests; and an actionable intelligence solution that provides instant access to insights from multiple data sources to help predict and monitor pipeline, productivity, cycle time, and pull-through. Additional solutions include one that identifies loan risks and conditions that must be resolved based on state and federal loan-level compliance validation testing; professional determinations of flood zones; and an award-winning customer relationship management tool designed specifically for the mortgage industry with a marketing automation engine.
“Stanford FCU is proud to be an ‘epicenter of innovation’ and we appreciate the leadership team’s confidence in our industry-leading technologies,” said Rich Gagliano, president of Black Knight Origination Technologies. “With our Empower LOS solutions and integrated origination solutions, Stanford FCU will benefit from unique capabilities that will help prioritize the needs of its members and better support the credit union in serving these members as trusted financial partners. .”
About Stanford Federal Credit Union
Nestled in the heart of Silicon Valley, Stanford Federal Credit Union is a not-for-profit, member-owned financial institution, founded in 1959 by university professors and staff dedicated to improving the financial lives of their members. . Stanford FCU was the first financial institution to offer the convenience of online banking. Innovation continues to be a top priority for the credit union, as does its mission to improve the financial lives of its members. Stanford FCU strives to be better than a bank by putting the needs of its members first and striving to be a trusted financial partner. They work with leading technology companies to meet the financial needs of their talented employees who expect the best products, services and experiences. Stanford FCU is proud that its community is an epicenter of innovation and includes top-performing companies such as Google, Facebook-Meta, Tesla, Genentech, SAP, VMware, Amazon, Oracle, Visa and Stanford University.
About the Dark Knight
Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage and real estate lending and servicing industries, as well as in capital markets and secondary. Businesses leverage our robust integrated solutions across the homeownership lifecycle to help retain existing customers, win new customers, mitigate risk and operate more efficiently.
Our customers rely on our proven, comprehensive, and 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, please visit www.blackknightinc.com.
For more information:
Show original content to download multimedia:https://www.prnewswire.com/news-releases/stanford-federal-credit-union-selects-empower-black-knights-loan-origination-system-and-integrated-solutions-to-automate-and-elevate- the-member-experience-301518247.html
SOURCEBlack Knight, Inc.