WEOKIE Federal Credit Union Selects Empower LOS to Automate Manual Processes and Fuel Growth in Retail, Home Equity Lending
Black Knight, Inc. (NYSE:BKI) announced that WEOKIE Federal Credit Union, serving members in the greater Oklahoma City area and surrounding counties, has signed a contract to implement the Empower loan origination system (LOS). The credit union will also leverage Black Knight's integrated suite of digital origination solutions to help automate workflows and cut costs while supporting growth in the credit union's retail and home equity lending channels.
"WEOKIE is dedicated to providing an unparalleled experience to both our members and employees," said Jerrad Hacker, WEOKIE Federal Credit Union Vice President of Mortgage. "To achieve this goal, we required a technology solution that could uphold our high standards of excellence. We chose Empower to enhance our retail and home equity lending operations because the platform automates laborious manual workflows, freeing up our loan officers to concentrate on our members. With the added benefits of cost savings and the reliability of a single technology provider, Empower satisfied all our needs and will facilitate our growth."
Empower is a robust, highly advanced LOS that will allow WEOKIE to create in-house workflows to best serve its employees' needs. The LOS features "lights-out processing," which streamlines repetitive processing tasks based on the lender's configurations, without the need for human intervention. This advanced technology actively monitors the system for any data changes, and triggers a separate work item when an exception has occurred to alert the user that additional reviews are needed. Team members can significantly increase loan production by focusing only on the items that need their attention.
Empower includes integration with Black Knight's digital, end-to-end ecosystem of mortgage origination solutions. This reduces the costly, time-consuming work of deploying custom integrations and gives the credit union exceptional technological capabilities, including integration with a leading product and pricing engine; a mortgage-specific CRM tool, which delivers timely, relevant outreach to engage borrowers and prospective members and help convert them into clients for life; a digital point-of-sale solution that enhances the mortgage application process for borrowers and loan officers; an interconnected, online network of service providers to help securely manage a broad range of products and services; machine-learning technology for document classification and indexing; a digital close solution with eDelivery and eSigning capabilities; a comprehensive fee service to help mitigate fee cures; robust property tax data; automated compliance validation testing; flood zone determination services and reporting; and an actionable intelligence solution that delivers instant access to information from multiple data sources to help forecast and monitor pipeline, productivity, cycle time and pull-through.
"Black Knight is thrilled to help WEOKIE take its retail and home equity operations to the next level, support the credit union's growth and help elevate its exceptional member service," said Rich Gagliano, president, Black Knight Origination Technologies. "By leveraging the Empower LOS and its integration with Black Knight's digital ecosystem, WEOKIE can take full advantage of the efficiencies and savings that a streamlined lending process offers. We look forward to supporting WEOKIE's mission to serve the financial needs of the greater Oklahoma City area for years to come."