Loan Originations Introduced to Technology, AI
Summary
Using AIVA, the company’s artificial intelligence virtual assistant, Black Knight’s Digital Point of Sale streamlines the origination process while simultaneously ensuring data integrity and consistency from the beginning. “Leveraging AIVA’s skills, Digital Point of Sale guides the consumer through the steps of prequalification and then preapproval through a simple, intuitive Q&A format, validating data and documents along the way,” said Anthony Jabbour, CEO of Black Knight. When potential borrowers upload identification and bank statements as part of the mortgage application process, AIVA can assess whether the appropriate documents were received and identify unusual transactions, such as large deposits. As AIVA develops deeper skills by consuming massive amounts of data, the Digital Point of Sale solution can leverage AIVA’s intelligence to permit smart, local, timely decisions. Moving from pre-qualification to pre-approval and the full loan application, Digital Point of Sale seamlessly accesses existing Empower interfaces (credit, automated underwriting, MSP servicing system data and more) to further streamline the process, while reducing lender origination costs.
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