Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

BLACK KNIGHT, INC.

(BKI)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

No Ink or Stamp Required: Why eNotarizations are the Next Big Thing

04/14/2021 | 03:37pm EDT
The challenges of in-person activities have never been more apparent than over the previous year as people, businesses and entire industries continue to feel the impact of a global pandemic. Signing and notarizing documents are critical tasks in many fields, and, if delayed, could prove to be catastrophic for the parties involved. To help overcome this challenge, more businesses and professionals are removing the in-person component from the equation and leveraging the technological advancements available in remote online notarizations (RON).

How RON Works

RON connects notaries and signatories virtually to complete a transaction whether it is related to new car loans, real estate, a legal matter or other. Electronic documents are signed remotely and, in most cases, the parties don't even need to be in the same city, state or even country. Legislation that guides how RON works requires conducting the signing and notary process in real time on a platform that is secure and free from unauthorized interruption, as well as audio-visual quality that is clear enough for the notary and signer to see the same record being signed. To enhance security and fraud prevention, knowledge-based authentication and credential analysis are required with each transaction. Additionally, RON transactions must be recorded and then tamper-sealed. In some states, the recorded process must be kept on file for a prescribed number of years, resulting in a valid, legally binding document.

RON's Value to Today's Mortgage Lenders and Title Agents

In the first quarter of 2020, the U.S. real estate market was performing at peak levels and annual home prices grew to their highest in two years. But when sweeping changes stemming from the COVID-19 pandemic took effect, such as mandatory lockdowns and social distancing requirements, businesses had to find a way to keep moving forward. Many lenders and title agents switched to remote operations and leaned on RON to complete transactions without borrowers needing to set foot in an office. Records for eNotes were shattered in 2020. For example, data available shows that 462,671 eNotes were registered on the MERS eRegistry in 2020, compared to 127,178 eNotes in 2019. That's an increase of 366% year-over-year.

Aside from the immediate benefits of keeping transactions on track during the COVID-19 pandemic, e- notarizations have many advantages that make it an attractive alternative to paper-based processes. RON's functionality accelerates turnaround times, reduces costs, eliminates the need to travel for signing and notarizing documents, and gives homebuyers greater access to closing documents ahead of their closing date, providing them more time to review materials. In a recent survey, 82% of signers preferred to see in advance what documents they were going to encounter during a transaction.

'When the world returns to 'normal,' people are still going to want the convenience of doing certain transactions remotely due to busy schedules. RON is the way to enhance current processes, improve operational efficiency and deliver a better customer experience,' said Rich Gagliano, president of Origination Technologies for Black Knight.

Companies are taking note of the increasing trajectory towards a fully digital close. For example, Black Knight's DocVerify℠ digital document verification platform enables lenders using RON to access the same notaries they currently work with and trust, but in a digital environment. Approved and certified for use in all states that allow RON, DocVerify is easy to implement with no download or install required, features the highest level of security, and can be integrated with mortgage eClosing systems, including Black Knight's Expedite® Close.

What's on the Horizon for RON

The emergency expansions of RON during the pandemic have started the conversation for further removing the barriers that exist for electronic transactions and signatures. Presently, eNotarization is legally authorized in all states; however, just over half of states have laws that enable their notaries to conduct remote notarizations. Nearly every state has proposed legislation to adopt RON, and in 2020 a federal push was initiated to adopt standards and policies.

Between 2019 and 2020, the number of transactions completed remotely increased by 547% with an overwhelming number of users praising the process for its safety, availability and ease. As pandemic emergency notices are lifted, expect to see further use, integration and enhancement associated with RON. For those lenders and title agents that haven't yet adopted a process to incorporate RON, now is the time to look at adding that capability to your toolbox.

Disclaimer

Black Knight Inc. published this content on 14 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2021 19:36:06 UTC.


© Publicnow 2021
All news about BLACK KNIGHT, INC.
09:29aBLACK KNIGHT  : Management's Discussion and Analysis of Financial Condition and ..
AQ
08:11aBLACK KNIGHT  : Q1 Earnings, Revenue Climb; Raises FY21 Guidance
MT
07:49aBLACK KNIGHT : Q1 Earnings Snapshot
AQ
07:12aBLACK KNIGHT, INC.  : Results of Operations and Financial Condition, Financial S..
AQ
07:07aBLACK KNIGHT  : Earnings Flash (BKI) BLACK KNIGHT Reports Q1 EPS $0.56, vs. Stre..
MT
07:07aBLACK KNIGHT  : Earnings Flash (BKI) BLACK KNIGHT Reports Q1 Revenue $349.7M, vs..
MT
07:01aBLACK KNIGHT  : Reports First Quarter 2021 Financial Results
PR
05/05BLACK KNIGHT  : CUSO Home Lending to Use Black Knight Empower LOS After Successf..
PU
05/05BLACK KNIGHT  : CUSO Home Lending to Use the Black Knight Empower Loan Originati..
PR
05/04Should Young Adults Stretch Financially to Buy a Home? -- Journal Report
DJ
More news
Financials (USD)
Sales 2021 1 414 M - -
Net income 2021 164 M - -
Net Debt 2021 2 012 M - -
P/E ratio 2021 60,9x
Yield 2021 -
Capitalization 11 165 M 11 165 M -
EV / Sales 2021 9,32x
EV / Sales 2022 8,50x
Nbr of Employees 5 700
Free-Float 95,1%
Chart BLACK KNIGHT, INC.
Duration : Period :
Black Knight, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BLACK KNIGHT, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 96,41 $
Last Close Price 74,10 $
Spread / Highest target 44,4%
Spread / Average Target 30,1%
Spread / Lowest Target 17,4%
EPS Revisions
Managers and Directors
NameTitle
Anthony M. Jabbour Chief Executive Officer & Director
Joseph M. Nackashi President
Kirk T. Larsen Chief Financial Officer & Executive Vice President
William Patrick Foley Non-Executive Chairman
Peter Carrara Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
BLACK KNIGHT, INC.-19.31%11 165
MICROSOFT CORPORATION11.41%1 856 307
SEA LIMITED23.03%127 247
ZOOM VIDEO COMMUNICATIONS, INC.-11.78%87 406
DASSAULT SYSTÈMES SE13.93%59 389
ATLASSIAN CORPORATION PLC-4.43%56 140