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Black Knight buys into AI for mortgage approvals with Heavy Water

Since the credit crunch a decade ago, banks have faced increasing workloads approving mortgages because they have to employ tougher checks against mis-lending and toxic debt. At last, AI techniques are helping reduce the cost and time of mortgage approvals while inevitably raising the question of whether jobs in the financial sector are in jeopardy as a result. For this reason, Black Knight, a firm based in Florida, analyzing mortgage applications for large banks, was keen to emphasis that its move into AI will displace its staff into more creative roles rather than replace them. Like many other established firms across a range of sectors, Black Knight has fast-tracked its recruitment of AI through acquisition, buying a two-year-old start up…

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