Advanced Big Data Platform Performs Complex Analysis; Forward-Thinking Data Validation Sensors Support Appraisal Accuracy
– Black Knight has been awarded two patents for innovative technology developments related to its Data Hub and asynchronous sensors
– The Data Hub aggregates, links and stores data from Black Knight’s technology applications with public records and third-party data sources to help clients improve customer service, financial performance, productivity and compliance
– Asynchronous sensors are used in Black Knight’s technology-assisted appraisal review solutions to validate and identify missing information during the appraisal report review process
– These innovations are examples of Black Knight’s commitment to bring transformational technologies to the industry
– These patents have applicability both within the mortgage industry and in other industries
Today, Black Knight, Inc. (NYSE:BKI) announced that the United States Patent and Trademark Office has issued two U.S. patents for Black Knight innovation. One was in connection with Black Knight’s Data Hub technology and related innovations in understanding and utilizing data elements. The second was for asynchronous sensors technology, a process Black Knight developed for determining the accuracy of any document, such as an appraisal report. Both patents allow Black Knight a 20-year period of exclusivity to the technologies.
A Data as a Service (DaaS) solution designed to help lenders and servicers better manage their extensive data assets, the Data Hub is the foundational technology used to support the Black Knight Actionable Intelligence Platform (AIP). By aggregating, storing and linking multiple data sources in one central, secure location, AIP leverages the Data Hub to produce actionable intelligence that helps mortgage lenders and servicers improve operations and compliance, grow their businesses and reduce processing time, costs and risk.
The asynchronous technology pre-validates documents, checking for missing information to help aid reviewers and underwriters in the review of appraisal reports. Black Knight’s technology-assisted appraisal review solutions use this to validate appraisals ordered and managed through Black Knight’s Exchange technology. The solution automatically conducts a quality control review to identify risks within appraisal reports. This review helps underwriters automate, standardize and simplify appraisal reviews without manual processing.
“These patents underscore the degree to which Black Knight’s innovation is helping to transform the mortgage industry,” said Anthony Jabbour, chief executive officer for Black Knight. “We continue to develop new and innovative solutions with a sense of urgency and a profound commitment to our clients and the industry at large.”
About Black Knight
Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.
SOURCE Black Knight, Inc.