CARMEL, Ind.--(BUSINESS WIRE)--Baker Hill, a leading provider of technology solutions for common loan origination, relationship management and smart data analytics, has partnered with BOLTS Technologies to provide financial institutions with a fast, secure online account opening solution that improves the customer onboarding experience while driving profitability for the institution.
Through its partnership with BOLTS, Baker Hill offers a streamlined account opening process, enabling financial institution employees to onboard customers from any location using a tablet while customers are able to open accounts online or via an intuitive mobile application. As a result, new customers can open an account in less than five minutes and existing customers can open a new account in just 90 seconds. This optimizes the customer onboarding experience, allowing customers to open an account regardless of branch hours, and allows financial institution employees to focus their efforts on other business areas.
Furthermore, BOLTS’ online account opening platform works well with Baker Hill NextGen™ matrix marketing, which uses comprehensive data analytics to help financial institutions retain their most profitable account holders, driving wallet share and deposit growth. By maximizing account holder profitability, financial institutions can increase lending activity. With Baker Hill NextGen™ loan origination, loans are processed more efficiently at competitive rates credit risk is mitigated, further boosting the institution’s bottom line.
Additionally, BOLTS utilizes a dynamic rules engine to offer institutions greater control over the account opening process. This empowers financial institutions to change account opening applications as industry regulations evolve, ensuring compliance requirements are met.
“Our team’s extensive experience in the community banking space has allowed us to deeply understand the challenges that financial institutions face due to slow, inefficient, manual processes like opening new accounts. We’ve leveraged our knowledge to address these issues with a faster, more convenient onboarding solution that helps financial institutions of all sizes gain market share,” said Scott Field, CEO of BOLTS Technologies. “We are proud to partner with a trusted solutions provider like Baker Hill and are thrilled to help Baker Hill clients streamline their account opening process.”
“At Baker Hill, we strive to help financial institutions work smarter while delivering an outstanding customer experience and BOLTS’ account opening solution enables us to accomplish just that,” said John M. Deignan, President and CEO of Baker Hill. “By offering this service, we can ensure that our clients have the necessary tools to remain competitive and keep up with the shifting demands of today’s increasingly mobile customer.”
About BOLTS Technologies
BOLTS Technologies specializes in providing software that speeds up the account opening process, improving the customer experience and allowing the banker to spend more time helping new or existing depositors with other banking business. The BOLTS account opening solution assists the branch employee by allowing them to onboard customers anywhere using a tablet. This system also gives customers the ability to open accounts on their own either online or through a mobile application. BOLTS has reduced account opening to less than 5 minutes for a new customer and 90 seconds for an existing customer.
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.