MAITLAND, Fla., April 19, 2018 — Digital Risk LLC, an Mphasis company, a leading end-to-end origination, risk, compliance, due diligence and technology services company providing solutions to the mortgage, consumer lending, financial services and other regulated industries, today announced an agreement to integrate its LoanFx digital mortgage platform with Black Knight’s LoanSphere Empower loan origination system (LOS).
The integration of LoanFx with Empower will provide near real-time updates throughout the application process to loan officers, their clients and their realtors for increased transparency, with the goal of shortening the entire process from application to approval and underwriting to as little as 20 minutes. LoanFx combined with the Empower LOS will also help support compliance with evolving regulatory requirements.
The Empower LOS is a comprehensive platform that supports the retail, wholesale, consumer-direct and home equity lending channels. The system is offered by Black Knight, Inc., a leading provider of integrated software, data and advanced analytics solutions to the mortgage and real estate industries.
“Lenders will benefit from the operational efficiencies that a streamlined loan application process will deliver through the Empower system,” said Rich Gagliano, president of Black Knight’s Origination Technologies division. “This integration reinforces our mutual commitment to deliver greater innovation in the origination process, increasing operational efficiency for lenders and improving the overall borrower experience.”
“A full-service digital mortgage experience platform that excites and empowers consumers and loan officers alike, while driving down costs and cycle times, is essential for today’s mortgage industry,” said Eric Rawlings, Chief Technology Officer of Digital Risk. “This integration meets that need. LoanFx’s customer-focused, data-driven and collaborative loan officer point-of-sale hub, combined with Black Knight’s workflow and data analytics-driven loan origination solutions, will offer an unparalleled customer experience while driving tremendous efficiencies within the loan manufacturing process.”
Citibank, N.A. recently announced that it has signed up as the platform’s first marquee client, utilizing LoanFx to combine its full suite of mortgage products into a unified digital customer experience integrated with Empower. The integrated, self-service system will be available for Citibank’s mortgage clients via digital channels, including mobile platforms, providing optimized efficiency and transparency and allowing them to become verifiers and suppliers of loan information.
Click here for more information on the Digital Risk LoanFx platform.
About Digital Risk, LLC
Digital Risk, LLC is a leading end to end originations, diligence, compliance, and technology services company that offers differentiated solutions to the mortgage, consumer lending, financial services and other regulated industries. By providing a combination of digital mortgage services, configurable technology and business operations, Digital Risk delivers high performance solutions to their clients that brings transformational improvements to quality, cost, and service. Digital Risk, LLC is a wholly owned subsidiary of Mphasis Ltd. To learn more, visit www.DigitalRisk.com
Mphasis (BSE: 526299; NSE: MPHASIS) enables customers to reimagine their digital future by applying a unique formula of integrated cloud and cognitive technology. Mphasis X2C2TM formula for success, (anything to cloud powered by cognitive), drives multi-dimensions of business value with an integrated consumer-centric Front to Back Digital Transformation™, enabling Business Operations and Technology Transformation. Mphasis applies advancements in cognitive and cloud to traditional application and infrastructure services to bring much needed efficiency and cost effectiveness. Mphasis’ core reference architectures and tools, combined with domain expertise and hyper specialization are the foundation for building strong relationships with marquee clients. Click here to know more.