CARMEL, Ind.--(BUSINESS WIRE)--Baker Hill, a leading provider of technology solutions for common loan origination, relationship management and smart data analytics, announced that Pittsfield, Mass.-based Berkshire Bank has selected its Advisor for Relationship Lending and Advisor for Portfolio Risk Management solutions as the engines to power its rapidly growing commercial loan program.
Berkshire Bank has been a Baker Hill customer since 2000. The bank implemented the Baker Hill Bank2Business® solution to support their small business lending operation in the spring of 2013 and has since grown its quarterly loan application volume by 775%. This significant growth dictated the need to add Baker Hill’s industry leading relationship lending and portfolio management capabilities.
“We have long considered Baker Hill a partner and trusted advisor, so selecting its platform for commercial lending was a natural fit,” said Denise Thompson, vice president small business of Berkshire Bank. “These solutions will enable us to manage the complexities of our growing loan portfolio by supporting the entire commercial lending cycle—from the initial prospect call through loan pay off and everything in between. The volume growth we’ve experienced since our implementation of Baker Hill’s Bank2Business speaks for itself, and was a significant contributing factor when choosing to add the new technology, which will give us the access to the tools we need to efficiently manage our lending operation and continue to extend our capacity.”
Advisor for Relationship Lending streamlines the entire commercial loan origination process in one, integrated solution that supports prospect, deal structure and credit analysis. The solution makes client information readily accessible while supporting the decisioning process with optimized credit approval and workflow automation. Advisor for Portfolio Risk Management delivers continuous, automated monitoring of the portfolio to help banks mitigate risk, identify cross-sell opportunities, and manage the renewal/extension process. With stress testing and alerts, the solution serves as an “early warning system,” offering insights on both risk and opportunities within the portfolio.
“Berkshire Bank’s impressive growth is a testament to the bank’s commitment to providing quality small business and commercial loan services,” said Naseer Nasim, chief executive officer for Baker Hill. “Sound decision making and speed are critical in lending. By implementing our Advisor for Relationship Lending and Portfolio Risk Management solutions, Berkshire Bank is well positioned to provide excellent customer value and minimize organizational risk while automating and consolidating lending processes to boost efficiency and reduce transaction costs.”
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.
