JACKSONVILLE, Fla., June 04, 2018 (GLOBE NEWSWIRE) -- Today, Black Knight, Inc. (NYSE:BKI) announced that it has acquired HeavyWater, a provider of artificial intelligence and machine learning (AI/ML) to the financial services industry. Black Knight will be integrating AIVA (pronounced Ay-vah) into its premier solutions, while also making the technology available to clients who seek to deploy AI/ML within other parts of their organizations to help enhance efficiency, effectiveness and accuracy. By taking on manual tasks that have diverted resources away from value creation projects, AIVA reads, comprehends and draws conclusions based on context to mimic cognitive thinking and build expertise over time. Located in Philadelphia, HeavyWater has been providing this solution to help lenders verify income, assets and insurance coverage, which are traditionally manual activities that take hours to complete and are prone to error. Clients benefit from accelerated processes and reduced expenses as AIVA gains experience and manual routines are automated.

Black Knight announced Monday its acquisition of HeavyWater, a provider of artificial intelligence and machine learning to the financial services industry. Black Knight explained it plans on integrating HeavyWater's AIVA solution, which leverages artificial intelligence and machine learning to perform operational functions more efficiently than traditional methods, into its premier solutions. It will also make the technology available to its clients looking to utilize AI within other parts of their organizations. "With the cost of origination and servicing at, or near, all-time highs, AIVA is poised to help increase efficiencies for Black Knight clients," Black Knight CEO Anthony Jabbour said. "AI, machine learning and neural network solutions are the future of delivering enhanced productivity and capabilities to our clients, and we are very excited about the potential HeavyWater has to offer."