JACKSONVILLE, Fla., Jan. 26, 2017 /PRNewswire/ -- Black Knight Financial Services, Inc. (NYSE: BKFS), a premier provider of integrated technology, data and analytics to the mortgage and real estate industries, announced today that Webster Bank (NYSE: WBS), a leading regional bank living up to consumers, businesses and the community since 1935, has agreed to continue its use of LoanSphere MSP, Black Knight's industry-leading loan servicing system. MSP is a complete, scalable, end-to-end system used by financial institutions to manage all servicing processes on a single, comprehensive platform, including loan setup and maintenance, payment processing, escrow administration, investor reporting, regulatory requirements, default management and more.
Webster Bank has been using MSP for over 12 years to help efficiently manage the company's growth, as well as address regulatory requirements and deliver comprehensive support to its customers.
Webster Bank uses several of Black Knight's default solutions, including LoanSphere Bankruptcy and Foreclosure, an enterprise workflow application to support the bankruptcy and foreclosure processes; and LoanSphere Invoicing, a web-based solution that streamlines billing and invoicing. Both of these default solutions are integrated with the MSP system.
"We're pleased that Webster Bank selected MSP for its extensive capabilities to help build a greater competitive advantage and improve risk mitigation," said Joe Nackashi, president of Black Knight's Servicing Technologies division. "As a leading fintech, Black Knight is committed to providing our clients with ongoing innovations and integrations to support their business growth and provide superior service to their lending customers."
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $26.1 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 175 banking centers and 350 ATMs. Webster also provides mobile and Internet banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS) 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.
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SOURCE Black Knight Financial Services, Inc.