Baker Hill Partners with Financial Institutions Amid COVID-19

   2020-04-24       29        Finance
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FinTech company leverages decades of expertise to assist financial institutions with small business lending, the Paycheck Protection Program, and portfolio risk management.

Baker Hill, the leading financial technology provider in delivering solutions for commercial, small business and consumer loan origination, risk and relationship management, CECL, and analytics,  is working directly with its client partners to expedite the processes for small businesses applying for Paycheck Protection Program (PPP) funds under the recently signed CARES Act and proactive portfolio risk management initiatives.

Numerous financial institutions nationwide are leveraging Baker Hill’s legacy small business solution, Bank2Business, as well as Baker Hill NextGen® and the newly released Baker Hill NextGen® SBA Fast Track to support consumers. With over 35 years of industry expertise, Baker Hill is providing guidance and support to both new and existing clients experiencing an increase in demand volume. With rapid deployment capabilities, Baker Hill can have a solution consumer-ready within a matter of hours.Banking News

“We know how important it is for our clients to be able to serve their customers during this period,” said John Deignan, president and chief executive officer at Baker Hill. “Supplying a solution to fit the needs of our client partner that could be implemented quickly was crucial to getting funds into the hands of those that need it.”

Baker Hill NextGen® SBA Fast Track relies on the power of Baker Hill’s small business loan origination expertise and is specifically designed to meet an escalating need as small businesses look to leverage the resources available through the PPP and CARES Act. With the evolving guidelines from the SBA, Baker Hill created its approach to capture loan applicant information through a unique link to a Baker Hill hosted PPP application website. Each application page is branded, enhancing the borrower’s experience with the financial institution. The small business owner’s application feeds directly into the existing Baker Hill solutions, eliminating the need for bankers to re-enter the data and best of all providing a single source for managing the documentation and the process of each SBA PPP request. With an E-Tran integration, financial institutions can quickly complete the process to get small businesses the funds they need.

Baker Hill NextGen® Portfolio Risk Management minimizes risk and optimizes portfolio insights related to portfolio monitoring. The solution integrates multiple sources of information about client interactions into a single platform to identify opportunities and manage risk and the relationship at the same time. As financial institutions look to stay sound during a period of increased uncertainty, Baker Hill NextGen® Portfolio Risk Management creates a unified solution.

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