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Velocity Credit Union Selects Empower, Black Knight’s Cloud-Based LOS and Integrated Suite

Black Knight, Inc. announced that Velocity Credit Union, one of the largest credit unions in Texas, has selected the Black Knight Empower LOS and integrated origination solutions to support its members and employees with advanced automation and innovative digital capabilities.

“At Velocity, we’re dedicated to meeting the needs of our members for years to come, and our selection of Black Knight’s integrated technology, data and analytics is central to this mission,” said Lindsey Record, vice president of mortgage lending, Velocity Credit Union. “With Velocity entering the first mortgage market, it was important to select a proven LOS that allows us the flexibility to help us achieve our strategic goals, and best serve our growing membership, with robust automation.”

The easy-to-use and highly configurable Empower platform will enable Velocity Credit Union to streamline the origination process from loan application through closing. The cloud-based system’s “lights-out” automation will save the credit union time, help reduce the cost per loan and provide Velocity’s staff the ability to process more loans at greater speed for an enhanced borrower experience.

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Velocity Credit Union is also adding the Optimal Blue PPE, the industry’s leading product, pricing and eligibility engine, as well as Borrower Digital, an innovative point-of-sale solution that supports members through the loan prequalification and application process. In addition, the credit union will implement solutions that deliver the following functionality: machine-learning technology for document classification and indexing; fee service for recording fees, transfer taxes, title, inspections and property taxes; a digital application for loan officers; automated compliance validation testing; a powerful business rules engine; and an end-to-end digital close solution with eDelivery, eSign and eNotary capabilities.

“By choosing Empower and Black Knight’s integrated suite of origination solutions, Velocity Credit Union will be able to provide the highest level of service to its members,” said Rich Gagliano, president, Black Knight Origination Technologies. “The automation and efficiency gained will enable Velocity’s employees to complete tasks more easily and effectively to support the credit union’s long-term growth goals and focus on more convenience to its members.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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