- WEOKIE chose the Empower LOS for its ability to reduce manual work for loan officers through automation of specific tasks, an enhanced application experience for its members, better technology, and several other benefits
- WEOKIE also selected Black Knight for the company’s depth and breadth of mortgage expertise
- With Empower, the credit union will be able to develop its own in-house workflows to best support its employees’ needs and give them more time to focus on members
- The Empower LOS also supported WEOKIE’s goal of consolidating multiple lending solutions under a single provider
Today, 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.”
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.
About WEOKIE Federal Credit Union
In 1969, the employees of the Western Electric Plant in Oklahoma City pooled their resources to form a not-for-profit cooperative and named it WEOKIE (WE = Western Electric, OKIE = Oklahoma). WEOKIE later began to serve the financial needs of many additional companies and their employees. Today, WEOKIE has grown to become one of the largest financial institutions in Oklahoma with over $1.5 billion in assets. WEOKIE provides a full range of financial products and services to help all members plan and build a secure financial future.
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