Cathay Bank, a California-based lender owned by Cathay General Bancorp, has decided to deploy Black Knight LoanSphere Empower loan origination system (LOS) using the Empower Now! implementation model to support mortgage and home equity originations.
Empower Now! is designed specifically for mid-tier banks. It is a lower-cost implementation approach to quickly deploy Black Knight’s enterprise platform.
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According to the technology vendor, Empower Now! will offer Cathay Bank an option of deploying LoanSphere Empower functionality under a core configuration.
Even after the deployment, the bank will have option to refine that configuration as per its specific needs. Empower Now!’s scalability will enable it to remain on the same system as its businesses grow, the vendor added.
Black Knight Origination Software division president Rich Gagliano said: “By providing robust LOS capabilities with an accelerated implementation timeline and a cost structure that aligns with mid-market lenders’ needs, we believe Cathay Bank is well-positioned to support its successful lending operation today, as well as in the future.”
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