Fifth Third Bank Signs Contract to Implement Black Knight Financial Services' Full Suite of Mortgage Loan and Home Equity Origination Solutions

JACKSONVILLE, Fla., July 6, 2016 /PRNewswire/ -- Black Knight Financial Services, Inc. (NYSE:BKFS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that Fifth Third Bank, a diversified financial services company headquartered in Cincinnati, Ohio, will implement a full suite of Black Knight loan origination solutions. Fifth Third Bank is consolidating its residential lending technology onto one integrated platform to enhance efficiencies and risk management.

Fifth Third Bank will be implementing the following Black Knight solutions to support its retail, consumer direct and correspondent mortgage loan channels, as well as home equity product originations:

- LoanSphere Empower - a comprehensive LOS that supports originations of first mortgages and home equity loans. The Web-based, enterprise LOS helps lenders electronically originate, process and close loans, and includes a solution for reporting, dashboards and ad hoc queries.

- LoanSphere LendingSpace – an end-to-end LOS that offers the controls, security and configuration necessary to build or enhance correspondent lending programs. LendingSpace performs all lending activities within one system for a seamless, standardized workflow that follows each lender's specific processes and rules.

- LoanSphere Exchange – Black Knight's Exchange is a Web-based technology that allows lenders and their service providers to connect and order products and services electronically through a secure, standards-based platform that provides integration, data, workflow and decisioning support. Exchange connects more than 20,000 of the mortgage industry's service and solution providers with the top lenders in the industry. Fifth Third will be able to access Exchange directly from Black Knight's Empower LOS.

- LoanSphere Quality Insight - a loan quality assessment tool that automates internal quality control reviews, provides consistent feedback on investor and lender compliance requirements, supports remediation and exception processing, and helps improve data integrity and reduce repurchase requests.

"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," said 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."

LoanSphere is Black Knight's premier, end-to-end platform of integrated technology, data and analytics supporting the entire mortgage and home equity loan lifecycle -- from origination to servicing to default. The platform delivers business process automation, workflow, rules and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight's LoanSphere helps lenders and servicers reduce risk, improve efficiency and drive financial performance.

About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $142 billion in assets and operates 1,241 full-service Banking Centers, including 95 Bank Mart® locations, most open seven days a week, inside select grocery stores and over 2,500 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2016, had $303 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the Nasdaq® Global Select Market under the symbol "FITB." Fifth Third Bank was established in 1858. Member FDIC, Equal Housing Lender.

About LoanSphere
LoanSphere is Black Knight's premier, end-to-end platform of integrated technology, data and analytics supporting the entire mortgage and home equity loan lifecycle – from origination to servicing to default. The platform delivers business process automation, workflow, rules and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight's LoanSphere helps lenders and servicers reduce risk, improve efficiency and drive financial performance.

Clients that use multiple LoanSphere offerings, such as Empower and/or LendingSpace; Exchange, Quality Insight or Closing Insight; and MSP, are considered Black Knight Enterprise clients and can realize exponential value from the integration of these technologies, as well as the utilization of  Black Knight's comprehensive data and analytics.

About Black Knight Financial Services, Inc. 
Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity National Financial (NYSE:FNF) company, is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.

Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.

For more information:

Michelle Kersch
Black Knight Financial Services                                                                
904.854.5043                                                
[email protected]              

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SOURCE Black Knight Financial Services, Inc.

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