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KeyBank Has Deployed Black Knight's MSP

KeyBank has implemented the Black Knight MSP servicing system for its mortgage portfolio. The aim was to drive efficiency and improve risk management at the bank.

MSP delivers a scalable system, which helps clients manage all servicing processes--from payment processing to escrow administration, customer service, and default management. It was engineered to support almost any size portfolio and includes client support services.

Also, the bank deployed components of the new Black Knight Actionable Intelligence Platform to help the bank proactively monitor and manage its servicing portfolio through the use of strategic, proactive analytics.

"As a result of the Black Knight team's extensive servicing experience and skillful execution, the entire implementation process was [well] planned and managed," said Amy Brady, CIO, KeyBank. "Black Knight's ability to support our growing servicing operations and help enhance our compliance processes, were important factors in our decision to expand our current relationship with Black Knight."

The Black Knight AIP is a unified framework for delivering strategic, proactive and actionable analytics to the right people within an organization at the right time, so they know the right actions to initiate next.

The AIP components that were deployed are Portfolio Insight Suite, which helps servicers monitor and manage their operations through the use of key performance metrics, and Lien Alert, which provides servicers with instant notifications about key lien-related indicators. Also, KeyBank will use Black Knight McDash, providing data and analytics capability on a majority of active mortgages as well as historical data on 180 million first-mortgage loans and more than 20 million home equity loans.

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