CARMEL, Ind.--(BUSINESS WIRE)--Baker Hill, a leading financial technology provider, delivering solutions for common loan origination, risk and relationship management, CECL, and smart data analytics, was named an awards finalist by Finovate, bringing together banks, fintech firms and individuals to honor the very best of the industry.
Recognized as a company that is driving fintech innovation forward, Baker Hill is a finalist for its flagship product, Baker Hill NextGen®, and its substantial impact on offering quality products and an exceptional digital experience to the financial services industry. Baker Hill NextGen® provides a framework to automate, integrate and streamline commercial lending processes, including lending for small, mid-sized and large enterprises, allowing financial institutions of all sizes to create efficiencies while minimizing risk. Baker Hill’s platform allows institutions to address all their lending needs – from prospect to deal structure and credit analysis – all within a single platform.
Niles Bay, CTO and COO of Baker Hill, said, “Our powerful cloud-based banking solution empowers financial institutions with unprecedented core strength combined with risk management and powerful insights – and helps our clients deliver the exceptional digital experience their customers demand. With the most advanced, flexible and scalable technology stack in existence today, it is the intelligent choice for those who want to boost productivity, maximize convenience and lower costs of ownership.”
Today, Baker Hill and Baker Hill NextGen® have experienced tremendous success, including the rapid expansion of its client base following the completed development of Baker Hill NextGen®, already supporting more than 20,000 bankers to originate loans. Additionally, its financial institution clients are realizing substantial success, including a 60 percent time improvement in the creation of commercial credit memos for clients; a reduction in small business turnaround times from 7 days to less than 3 hours; and a 50 percent expansion of new loan opportunities with the Baker Hill online loan application solution.
Financial institutions have repeatedly commended Baker Hill for its technology, with numerous banks and credit unions either expanding existing relationships or tapping the company for its solutions. Recently selecting Baker Hill NextGen® for Commercial and Small Business Lending, Massachusetts-based de novo bank New Valley Bank & Trust partnered with the company to help develop efficiencies in the lending process and modernize and digitize the borrower experience.
“As a new institution, we are committed to embracing innovations that prioritize responsiveness and drive opportunity for our customers, especially for those digitally-driven,” said Jeff Sullivan, CEO and President of New Valley Bank & Trust. “To stay true to that commitment, we chose to partner with Baker Hill because of their proven experience and history in commercial lending. This, coupled with their leading-edge technology, will enable us to deliver the lending products our community needs and desires. We look forward to working with them to support growth now and in the future.”
“Baker Hill has continued to innovate for 35 years, creating solutions that address both loan origination and portfolio risk management. As a result, we’re empowering banks like New Valley Bank & Trust and many others to aggressively compete while boosting profitability – and we’re seeing the impact and success of that,” said John M. Deignan, President and CEO of Baker Hill. “We’re honored to be recognized for our work and named alongside some of the industry’s best as a finalist for the 2019 Finovate awards.”
Winners will be announced at a gala dinner on September 24th at The Edison Ballroom in New York during FinovateFall 2019.
About Baker Hill
Baker Hill empowers financial institutions to work smarter, reduce risk and drive more profitable relationships. The company delivers a single unified platform with modern solutions to streamline loan origination and portfolio risk management for commercial, small business and consumer lending. The Baker Hill NextGen® platform also delivers sophisticated analytics and marketing solutions that support sound business decisions to mitigate risk, generate growth and maximize profitability. Baker Hill is the expert solution for loan origination, portfolio risk and relationship management, CECL and analytics for financial institutions in the United States. For more information, visit www.bakerhill.com.