Baker Hill Adds 16 Financial Institution Clients Since Acquisition
– Growth signals bank and credit union prioritization of loan
origination, business intelligence –
CARMEL, Ind.–(BUSINESS WIRE)–Since its September 2015 acquisition by The River Side Company, Baker
Hill has added 16 financial institution clients for its loan
origination and business intelligence solutions. The company attributes
this momentum to the growing demand for solutions that enable financial
institutions to increase efficacy through democratization of business
intelligence, cloud-based computing, and Internet, Intranet and tablet
business lending.
The depth and breadth of Baker Hill’s lending products (Bank2Business®,
Bank2Consumer® and Bank2Dealer®) coupled with its
lending workflow and autodecisioning are key differentiators of the
company’s common loan origination solutions. Baker Hill has also seen a
rising interest in its portfolio risk management solutions, which
mitigate risk and facilitate compliance through ongoing portfolio
monitoring. These include Baker Hill’s Statement Analyzer, Exception
Advisor, Portfolio Risk Manager, and Relationship Lending products.
“By selecting Baker Hill as our technology partner, we’ve positioned
ourselves to compete and win against traditional and non-traditional
competitors,” said Peter Rice, senior vice president, Small Business
Lending, for Pittsfield, Mass.-based Berkshire Bank. “Not only do the
Baker Hill lending solutions increase efficiency and improve our client
experience, they expand our market reach and help us make sound credit
decisions to ultimately improve profitability.” Since all Baker Hill
software is offered through cloud computing, it also affords the highest
level of security and ease of implementation.
Baker Hill has experienced growing adoption of its AppLink solution,
which reduces the amount of information loan applicants must provide.
Longtime Baker Hill client, Western Alliance Bank, recently added
AppLink to its loan origination platform. Of this decision, Sherri
Slayton, the bank’s executive vice president commented, “AppLink will
provide our Business and Consumer Loan Center with increased
efficiencies and greater productivity as it relates to managing the
application process, scoring and documenting small business loans.”
Baker Hill’s momentum is also credited to financial institutions’
increasing reliance on data analytics for not only lending decisions,
but to drive improvements institution-wide. Baker Hill ProfitGen™,
formerly referred to as IDM Online and launched officially in February
2016, uses analytics and predictive, prescriptive modeling to track
profitability and guide marketing strategies.
“Financial institutions are under rising pressure to make lending
decisions that are just as fast as they are sound,” said Naseer Nasim,
CEO of Baker Hill. “As a result, we’ve seen a steadily growing demand
for technology that enables banks and credit unions to properly harness
their own data to make fast decisions, accelerate the loan lifecycle,
and continually mitigate risk.” Berkshire Bank’s Rice confirms this,
adding, “Baker Hill acknowledged our need to update our technology,
providing us with the ability for instant decisioning, and we are
confident that they will help take us to the next level.”
Releasing new products like ProfitGen™ and the newest Baker Hill
product, AppGen™ – which allows consumers and small businesses to
initiate credit card and loan applications on laptops and tablets – is
evidence of Baker Hill’s renewed commitment to technology innovation
since its acquisition. In the near future, the company plans to deliver
a number of product enhancements, including persona-based, mobile
responsive technology that combines the power of business intelligence,
portfolio risk management, exception analysis, fund transfer pricing,
and CRM at the core of common loan origination for commercial, small
business, consumer, and dealer lending. Baker Hill is also forging new
partnerships and third-party integrations to improve its clients’
ability to win in today’s competitive landscape.
About Baker Hill
Baker Hill empowers financial institutions to work smarter and drive
more profitable relationships. The company delivers solutions that
streamline origination and portfolio management for business, consumer
direct and indirect lending. Baker Hill also delivers sophisticated
business intelligence and revenue enhancement solutions that support
sound business decisions to mitigate risk and generate growth. Baker
Hill is the #1 provider of member business lending services, serving 600
financial institutions, including more than 20% of the top 150 U.S.
banks and 20% of the top 25 U.S. credit unions. For more information,
visit www.bakerhill.com.
Contacts
William Mills Agency
Sheryl Gudelsky, 678-781-7229
sheryl@williammills.com
