CitiMortgage has signed two agreement with technology firms Digital Risk and Black Knight to integrate its mortgage products suite into a single digital platform for its clients.
As per the agreement, CitiMortgage will combine Black Knight’s LoanSphere Empower loan origination system with front-end solution LoanFx provided by Digital Risk.
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Leveraging the new digital capabilities, CitiMortgage clients will be able to complete the full loan cycle, from research to application, processing, scheduling appraisals, handing title, to closing through one digital platform.
CitiMortgage head CD Davies said: “With these best-in-class systems in place, we will revolutionize the experience we provide our clients, through every channel and product.
“These agreements are another critical step toward making mortgage a key differentiator for our franchise and delivering the full power of Citi’s network to clients.”
Black Knight’s solution allows the bank to integrate with service providers for pricing, fees, compliance, appraisal, fraud and settlement services.
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By GlobalDataCiti said that LoanFx will be integrated in all of CitiMortgage’s digital channels, including mobile and tablet interfaces.
LoanFx will also offer real-time updates throughout the process to Citi loan officers, their clients, and their realtors for increased transparency.
Citi will start implementation of these new solutions immediately, with full production expected from early next year.
