KeyBank, one of the nation’s largest bank-based financial services companies, has announced that it has implemented the Black Knight MSP servicing system and several other analytics from the Black Knight Actionable Intelligence Platform.
As a client of Black Knight, KeyBank can reportedly reduce risk, improve efficiency and drive financial performance by gaining business process automation, workflow, rules, and integrated data throughout the loan process. Financial institutions utilize MSP’s single, comprehensive system to serve over 34 million active loans.
Its system can accommodate basically any size portfolio and manage all servicing processes including payment processing, escrow administration, customer service, default management and more.
Aside from using Black Knight’s MSP, Empower loan origination system as well as its Bankruptcy and Foreclosure and Invoicing products, KeyBank also uses components of the new Black Knight Actionable Intelligence Platform (AIP). It helps the bank proactively monitor and manage its servicing portfolio by using strategic analytics.
"Taking advantage of multiple innovative Black Knight products will help KeyBank to benefit from reduced costs, increased operational efficiency and improved support for compliance initiatives," said Joe Nackashi, president of Black Knight's Servicing Technologies division.