Baker Hill Explores Best Practices for Digitizing the Lending Experience in New E-Book
CARMEL, Ind.--(BUSINESS WIRE)--Jun 12, 2018--Baker Hill, a leading provider of technology solutions for common loan origination, risk management, relationship management and smart data analytics, reveals how community financial institutions can digitize lending operations to offer a faster, more convenient experience for borrowers while positioning institutions for sustained and profitable portfolio growth in its latest e-book, “Digitizing the Lending Experience.”
Today’s financial institutions must adapt to heightened consumer expectations and modernize their approach to lending, otherwise they risk losing significant market share to online lenders who have adapted. In fact, according to TransUnion, fintechs and alternative online lenders originated $15 billion in personal loans during the first half of 2017, which currently accounts for nearly one-third of the total U.S. market for personal loans.
The e-book explores how traditional financial institutions can optimize the lending experience by eliminating pain points throughout the entire loan origination process. Baker Hill outlines several best practices for removing friction during the application process, including methods for minimizing data entry and options for attaching missing or supporting loan documents to the application. Other insights include tactics for more efficient underwriting using data analytics and automation, as well as ways to increase transparency for borrowers.
“As the economy continues to strengthen and interest rates rise, it is more important than ever for financial institutions to deliver a more streamlined and transparent lending experience at a competitive price point to position their loan portfolios for sustained growth and profitability,” said John M. Deignan, President and CEO of Baker Hill. “By sharing our knowledge and industry-proven best practices, we hope that community financial institutions recognize that digitizing lending operations is attainable, especially given the capabilities of current technologies like our Baker Hill NextGen®.”
To download the e-book, visit Baker Hill’s website.
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.
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CONTACT: Baker Hill
Mallory Griffin, 678-781-7225
KEYWORD: UNITED STATES NORTH AMERICA INDIANA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE PROFESSIONAL SERVICES BANKING FINANCE COMMUNICATIONS PUBLISHING
SOURCE: Baker Hill
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PUB: 06/12/2018 07:00 AM/DISC: 06/12/2018 07:01 AM