CARMEL, Ind.--(BUSINESS WIRE)--Baker Hill, a leading provider of technology solutions for common loan origination, risk management, relationship management and smart data analytics, has released the latest developments for Baker Hill NextGen®, which includes consumer loan origination and several small business and commercial lending enhancements. The newest release of Baker Hill NextGen® also supports multiple loan decision strategies, including scored decision and auto decision.
The next phase of Baker Hill NextGen® incorporates new functionalities that support the commercial, small business and consumer lending needs of financial institutions in a single, cloud-based solution and enable Baker Hill NextGen® clients to enhance their customers’ experience with tools that give end users the flexibility to originate loans anytime, anywhere. New automated workflows empower institutions to efficiently process consumer and small business loan applications as well as complex commercial credit requests from start to finish. To optimize the underwriting process, Baker Hill NextGen® also considers the distinct credit policy rules of each financial institution to accurately and consistently assess credit risk.
Other new features include debt service analysis and coverage calculation capabilities, as well as access to parsed bureau data and a full range of credit reporting company scores via tri-merge reports to support solid credit decisions. Baker Hill NextGen® also incorporates pricing tables within the solution to ensure the proper structuring of loan products and maintain the quality of the portfolio.
“With interest rates expected to rise in 2018, financial institutions should identify ways to drive efficiencies in their lending processes, both on the consumer and business side, to maximize portfolio growth,” said Niles Bay, chief operating officer and chief technology officer of Baker Hill. “We believe the latest enhancements to Baker Hill NextGen® will help our clients better capitalize on new loan opportunities of all types in this rising rate environment while upholding the strength of their loan portfolios.”
Baker Hill NextGen® is the cloud’s most powerful, cutting-edge common loan origination, risk management and analytics solution. Since its launch in January 2017, Baker Hill has dedicated countless resources to continued product development to ensure its solution fulfills the consumer’s requirement for a transparent, digital lending experience in addition to the needs of its bank and credit union clients in a single end-to-end, mobile-responsive platform. Baker Hill NextGen® combines comprehensive loan origination features with the latest technical advancements in cloud and mobile computing, streamlining lending processes and portfolio risk management while improving accuracy and supporting a better customer experience.
About Baker Hill
Baker Hill empowers financial institutions to work smarter and drive more profitable relationships. The company delivers a single unified platform with solutions that streamline origination and portfolio management for business, consumer direct and indirect lending. The Baker Hill NextGen® platform 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 500 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.