JACKSONVILLE, Fla., Feb. 11, 2020 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) announced today that Fulton Bank, N.A., a full-service commercial bank operating under Fulton Financial Corporation based out of Lancaster, Pa., has signed a contract to use the Black Knight MSP servicing system to support both first mortgages and home equity loans on one system. The bank will also use Servicing Digital, the Actionable Intelligence Platform (AIP), and several default products to support its expanding operations.
"Through Black Knight's MSP system, Fulton will be able to service residential mortgages and home equity loans on a single platform, which will help us increase efficiency," said David Campbell, senior executive vice president and director of Strategic Initiatives and Operations for Fulton Bank. "This is a significant benefit to our team and our customers."
Black Knight's MSP servicing system offers advanced, scalable, end-to-end functionality to help mortgage servicers of all sizes manage their servicing operations -- including payment processing, escrow administration, customer service and default management. MSP helps servicers increase efficiency, reduce operating costs and improve risk mitigation for more than 34 million active loans serviced on the system.
Fulton Bank will also use the Black Knight Servicing Digital solution, a consumer-centric, responsive web and mobile solution that delivers fast, round-the-clock access to detailed, timely and highly personalized home and loan information to its customers. This powerful solution also provides "what-if" simulators and tools to show how wealth can be built from these real estate assets. Servicing Digital gives servicers a platform for continual engagement with their customers to build stronger relationships.
In addition, Fulton Bank will use Black Knight's AIP for proactive analytics about its servicing operations. AIP delivers actionable analytics to the right people within an organization at the right time, so they know the right actions to initiate next. Fulton Bank will also use Black Knight's suite of default solutions -- including the new Loss Mitigation solution, as well as Foreclosure/Bankruptcy and Invoicing. These solutions will help Fulton Bank improve the efficiency of their default operations and improve the customer's experience throughout the default process.