Black Knight, Inc. announced that it has signed an agreement with M&T Bank, one of the largest banks in the U.S., to implement Black Knight’s Enterprise Business Intelligence (EBI) solution to provide broader and deeper insight into the bank’s mortgage portfolio and to help improve efficiency across M&T Bank’s origination and servicing operations, Black Knight announced in a press release.
LoanSphere Data Hub and LoanSphere Motivity – the primary components of the Enterprise Business Intelligence solution – are central to Black Knight’s innovative LoanSphere platform of integrated software, data and analytics that supports the mortgage and home equity loan life cycle, the release said.
“Further expanding our relationship with Black Knight by implementing business intelligence into our company’s data strategy will help M&T Bank take advantage of additional benefits, such as identifying opportunities to add value for our customers, and adding another tool to support our compliance efforts,” M&T Bank Mortgage and Consumer Lending Division Executive Vice President Michael Todaro said. “These capabilities are also key to augmenting our data strategy and leveraging our data to improve our overall efficiency and performance.”
Black Knight’s Enterprise Business Intelligence solution leverages data to help both lenders and servicers generate and protect revenue, improve efficiency and performance, and reduce compliance risk. The LoanSphere Data Hub technology aggregates, links and stores data from multiple Black Knight applications with public records and third-party sources. The technology systematically reviews and interprets large datasets, and delivers the results in a way that users can easily respond to or perform specific actions.
M&T Bank will also implement Motivity Insights, which are prebuilt business intelligence components packaged to solve various issues specific to the mortgage industry. M&T Bank currently uses Black Knight’s suite of LoanSphere solutions, including:
- LoanSphere Empower loan origination system;
- LoanSphere Exchange, a data exchange network for lenders and service providers to connect and conduct business online for services such as appraisals, title and settlement services, mortgage insurance and more;
- LoanSphere MSP servicing system; and
- Several Black Knight data and analytics solutions, including mortgage performance data.
As a result of the combination of Black Knight LoanSphere products used, M&T Bank is a Black Knight enterprise client, according to the release. Clients that use specific LoanSphere offerings across the mortgage continuum can realize exponential value from the integration of Black Knight’s innovative software and comprehensive data and analytics.
“We are proud to offer additional solutions to M&T Bank that will get the right information to the right people at the right time for better decision-making and understanding what actions need to be taken,” Black Knight’s Enterprise Business Intelligence Division President Tyler Sherman said. “This combination of operational insights and powerful data assets will support greater efficiency and productivity at M&T Bank to drive improved results.”
Black Knight CEO Tom Sanzone emphasized what Black Knight can provide to its clients, provisions that can’t be found anywhere else.
“By integrating Black Knight’s suite of LoanSphere solutions and data assets from origination to servicing and bankruptcy/foreclosure, M&T Bank is implementing the most efficient operating model in the mortgage space, “ Sanzone said. “No other provider in the mortgage industry can offer Black Knight’s complete range of innovative, mission-critical solutions and data across the loan life cycle to help clients eliminate inefficiencies, discover insights, drive down costs and reduce risk.”