BluPeak Credit Union, a San Diego-based credit union with nearly 60,000 members and more than $1.2 billion in assets, has signed a contract with Black Knight Inc. to implement the Empower loan origination system (LOS) and its suite of integrated solutions to help automate the processing of loans.
“We are a growing credit union, and Empower is the technology workhorse we need to streamline our operations and take our business to the next level,” says Lance De Guzman, vice president of real estate and capital markets at BluPeak. “By leveraging the Empower system’s robust automation and digital ecosystem, we’re confident we can keep our margins strong – even in a tight originations market. Once loan volumes return to higher levels, Empower will help us scale our operations without adding to staff. Our credit union may not be the biggest, but by tapping into Black Knight’s advanced originations solutions, we can still deliver an experience that rivals the large players in the industry.”
With Empower, BluPeak will have a LOS that will help the credit union better serve its members, streamlining workflows for employees and driving down operational costs. Additionally, Black Knight’s fully digital, end-to-end ecosystem will give BluPeak access to a wide-ranging suite of integrated technology, data and analytics solutions to enhance its retail lending channels while promoting steady growth.
Leveraging the easy-to-use and highly configurable Empower platform, BluPeak will be able to streamline the origination process from loan application through closing. The cloud-based system’s “lights-out” automation will enable BluPeak to benefit from next-level capabilities, including a leading product and pricing engine; a digital point-of-sale solution that enhances the mortgage application process for borrowers and loan officers; 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.
“Our originations ecosystem supports BluPeak’s passion for helping its members build a better future, while growing its business,” says Rich Gagliano, president, Black Knight Origination Technologies. “Black Knight is committed to delivering best-in-class software solutions to our clients – regardless of size – while keeping member experience at the forefront.”