back Back

Black Knight unveils Underwriter Assist, leverages machine-learning tools from AWS

By Pavithra R

July 21, 2021

  • America
  • Black
Share

Black Knight unveils Underwriter Assist, leverages machine-learning tools from AWSBlack Knight, a leading provider of technology, data and analytics solutions to the mortgage, real estate, and capital markets verticals has announced Underwriter Assist, an AI-powered mortgage solution developed by Black Knight running on Amazon Web Services (AWS).

Underwriter Assist improves operational efficiency and productivity by automating many “stare and compare” tasks traditionally involved in underwriting, a critical component of the loan origination process.

“We’ve been collaborating with AWS since 2018, leveraging its robust services as we continue to innovate comprehensive solutions for the mortgage industry. Combined with our many decades of industry, process and development expertise, these tools are helping us to create the next generation of mortgage-specific AI solutions. As a result, Underwriter Assist is able to deliver exceptionally high levels of automation to help address the underwriting quality and productivity problems facing lenders today,” said Rich Gagliano, president, Black Knight Origination Technologies.

By removing the heavy burden of repetitive tasks off the underwriter’s plate, Underwriter Assist helps more loans to be processed, while supporting increased borrower satisfaction and improved underwriter retention. To deliver robust automation and dynamic underwriting workflow, Underwriter Assist uses Amazon Textract and Black Knight’s algorithms and models for data extraction; Black Knight’s machine-learning (ML) technology for document identification and classification; and a configurable rules engine based on technology used in Black Knight’s Empower loan origination system.

“AWS’s extensive portfolio of cloud services help leading fintech providers like Black Knight to rapidly innovate new services to improve customer experiences. Black Knight is transforming the day-to-day for lenders using advanced machine learning services like Amazon Textract to increase productivity, drive operational efficiency, and reduce costs. By running on AWS, Black Knight continues to position itself as the leader in the mortgage industry, improving processes, accuracy, and overall customer satisfaction backed by the reliability, security, and performance of one of the world’s leading cloud,” said Frank Fallon, vice president of Financial Services at AWS.

 

Previous Article

July 21, 2021

Mastercard enhances payment card offering for Cryptocurrency companies

Read More
Next Article

July 21, 2021

Plum teams up with Anorak to bring life insurance to millennial savers

Read More






IBSi Daily News Analysis

June 21, 2024

America

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Niyogin Fintech appoints Sanket Shendure as the Chief Product & Growth Officer

Read More

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

Curlec & Seedflex strengthen businesses in Malaysia with PAYS Advance

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023