Baker Hill Prepares Financial Institutions for the New CECL Standard by Launching Baker Hill NextGen® CECL Solution
CARMEL, Ind.--(BUSINESS WIRE)--Sep 25, 2018--Baker Hill, a leading provider of technology solutions for common loan origination, risk management, relationship management and smart data analytics, announced the launch of Baker Hill NextGen® CECL. This innovative solution can be adopted as a standalone module or integrated seamlessly into Baker Hill’s existing loan origination system, providing the ultimate holistic view of risk in a comprehensive framework for financial institutions to establish, evaluate and validate credit risk to support Current Expected Credit Loss (CECL) compliance.
Given its long history of delivering lending products that help banks and credit unions make the best credit decisions, Baker Hill now helps financial institutions prepare for the new CECL standard with its Baker Hill NextGen® CECL solution. This solution provides access to extensive amounts of high-quality origination data, as well as performance data needed for calculating loss allowances under the CECL standard. This offers financial institutions greater flexibility over which CECL calculation methodologies to use. Powered by Baker Hill NextGen®, this flexible CECL solution adds to Baker Hill’s expertise in lending, risk management and analytics – and gives banks and credit unions a powerful CECL tool with a holistic view of risk.
Baker Hill has dedicated substantial resources toward building formative solutions to propel existing clients and others in the financial industry toward CECL-readiness. Financial institutions can leverage tools within the Baker Hill NextGen® platform to minimize the impact the new standard could have on their institution. These tools include the company’s loan origination system; portfolio risk management and statement spreading solutions; CECL data store and calculator; pricing and profitability solution; and advisory services.
“The experts at Baker Hill understand how important CECL-readiness is for our clients and have been hard at work making sure we can empower them to get ahead of this regulatory change so the impact on their business is minimal,” said John M. Deignan, President and CEO of Baker Hill. “We have established ourselves as trusted advisors for banks and credit unions for more than 30 years and as a result, the Baker Hill NextGen® CECL solution is the go-to resource for the strategic planning required for CECL.”
About Baker Hill
Baker Hill empowers financial institutions to work smarter and drive more profitable relationships. The company delivers a single unified platform with modern solutions that 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 management, and analytics for financial institutions in the United States. For more information, visit www.bakerhill.com.
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CONTACT: For Baker Hill
Mallory Griffin, 678-781-7225
KEYWORD: UNITED STATES NORTH AMERICA INDIANA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Baker Hill
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PUB: 09/25/2018 07:01 AM/DISC: 09/25/2018 07:01 AM