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.
