Linedata, a global provider of credit and asset management technology, data and services, today announced First Bank unlocked new efficiencies in its business lending division by fully adopting Linedata’s cloud-based capabilities and streamlined business procedures through Linedata Capitalstream.

Since the initial integration of Linedata Capitalstream in 2016, the partnership between Linedata and First Bank has supported the bank’s business lending segment in implementing automation, digitizing processes and offering a greater level of support to clients.

For more than 100 years, First Bank has operated as a family-owned bank, committed to remaining connected to clients and their long- and short-term financial goals. Linedata Capitalstream’s Continuous Integration/Continuous Deployment (CI/CD) capabilities allow First Bank to deliver the latest innovations and comprehensive solutions, without traditional upgrades. New features and enhancements will be delivered regularly, ensuring a modern user experience for First Bank’s business lending team.

“Our mission, vision, and purpose are solid and propel us to make investments in technology that serve our clients better,” says Eric Hallgren, Chief Credit Officer at First Bank. “We’re looking forward to keep rolling out digital-first initiatives, and continuing to partner with companies like Linedata, who keep us at the forefront of forward-thinking solutions.”

The full adoption of Linedata Capitalstream has allowed for highly efficient, frictionless processes that focus on client engagement. For every step in the loan approval process that Linedata Capitalstream allows First Bank to simplify, First Bank adds value to their clients.

“Since we started working together, I’ve admired First Bank’s willingness to adapt and evolve ahead of industry standards,” says Louanne Gemin, SVP Linedata Lending and Leasing North America. “As digital client interactions and remote working became the norm in 2020, First Bank is well-positioned to optimize performance of business lending.”

First Bank can now offer small businesses the opportunity to apply for a loan online and receive a decision instantly. Compared to the norm of waiting days or weeks for a decision, this loan application experience will reduce stress for business borrowers. Using Linedata Capitalstream’s automation, First Bank will be able to offer this helpful service without incurring unacceptable credit risk.

“Integrating tools such as Linedata Capitalstream means we get to spend more time connecting with our clients, offering our expertise as they face new challenges and opportunities in their communities,” Hallgren adds.

For more information on Linedata Capitalstream, please visit Linedata.com/lending-leasing/linedata-capitalstream.