In order to consolidate its residential lending technology onto a single, integrated platform, Fifth Third Bank has signed a contract to implement Black Knight Financial Services’ full suite of mortgage loan and home equity origination solutions – known as LoanSphere – including Black Knight’s LoanSphere Empower and LendingSpace loan origination systems, as well as its LoanSphere Exchange integration service and LoanSphere Quality Insight quality control system.
Fifth Third, a diversified financial services company headquartered in Cincinnati will use the suite of solutions to support its retail, consumer-direct, home equity and correspondent channels.
Using the all-in-one platform, Fifth Third will be able to gain new efficiencies and improve risk management, Black Knight claims in a press release.
“Black Knight’s LoanSphere technology will help streamline Fifth Third’s lending operations, providing the company with the integrated solutions needed to help meet its compliance obligations and achieve greater efficiencies across the origination loan lifecycle,” says Jerry Halbrook, president of Black Knight’s origination technologies division. “The combination of Black Knight’s technologies, which deliver end-to-end capabilities, will help lenders like Fifth Third realize greater value by using integrated technology from a single provider.”