Baker Hill, a leading provider of technology solutions for commercial loan origination, risk and relationship management, CECL compliance, and smart data analytics, announced today that since the 2018 launch of its flagship product, Baker Hill NextGen® followed by the market introduction of Baker Hill NextGen® CECL, the company has seen tremendous momentum and a substantial impact on the financial services industry.  

“Most financial institutions today use multiple, disjointed systems for loan origination and portfolio management, limiting their ability to compete effectively with the largest institutions and maximize profitability all the way down to the account level,” said Niles Bay, CTO and COO of Baker Hill. “Adding to this challenge, institutions face more competitors today than ever before, contending with alternative lenders like Kabbage and OnDeck for market share. There is a dire need to supercharge profitability while shrinking risk and loss, however, most solutions today focus on one or the other.”

As a direct response to this industry-wide challenge, Baker Hill built a solution that addresses both loan origination (from online loan applications to complete lending process management) and portfolio risk management, making it possible for its clients to aggressively compete and drive profitability. Championed by Bay and leveraging its three decades of feature-rich solutions, Baker Hill completely rebuilt its legacy products, transforming them into not only the most innovative platform of its kind, but the only platform of its kind – all with a modern, roles-based user interface that performs across all devices. Bay’s leadership on this comprehensive, cloud-based platform resulted in his nomination for Indianapolis Business Journal’s CTO of the Year Award for which he was selected as a top honoree.

Countryside Bank is currently working with Baker Hill to modernize its commercial lending business and needed a new, state-of-the art loan origination system. According to Tony Diana, Vice President, Chief Information Systems Officer, “Our commercial bankers are excited and extremely impressed with Baker Hill NextGen®. Everyone is eagerly looking forward to going live.”

Baker Hill NextGen® further stands above the rest for its commitment to helping institutions stay ahead of regulatory changes. Launched in Q4 2018 as an extension of the Baker Hill NextGen® loan origination and risk management platform, the Baker Hill NextGen® CECL solution will be the industry’s go-to resource for CECL-preparedness. The first CECL solution fully integrated with a loan origination and portfolio risk management platform on the market, this innovation provides the ultimate holistic view of risk in a comprehensive framework for financial institutions to establish, evaluate and validate credit risk. 

As a result of these launches and Baker Hill’s commitment to innovation, the company has achieved numerous milestones, including: 

·         Rapid expansion of its Baker Hill NextGen® client base following the completed development of the platform already supporting 20,000 bankers and counting to originate loans;

·         Record growth of its employee base, resulting in moving the company to a modern office space based in Carmel to support future technology developments;

·         Management of over $1.3 trillion commercial loan opportunities for its clients; 

·         Incredible growth and success for its clients, including:

o    62% time improvement in the creation of commercial credit memos for clients

o    Reduction in small business turnaround times from 7 days to less than 3 hours

o    54% expansion of new loan opportunities with the Baker Hill online loan application solution

·         Management of nearly 16 million portfolio monitoring rules every single day to maintain the financial strength of its commercial lending clients;

·         Maintenance of its powerful CRM to track the associated products of 37 million business customers; and

·         Hosting its largest user conference yet, representing over 50 U.S. financial institutions.

“Because of its rapid success and as evidence of its superior innovation and expertise, Baker Hill NextGen® has captured the attention of the financial services industry, as well as attracted a number of high-tech, high profile, innovative companies as strategic partners and alliances,” said John M. Deignan, President and CEO of Baker Hill. “These tremendous achievements coupled with the attention from the industry’s top innovators further illustrate the impact of our solutions. FinTech companies from around the globe are identifying gaps in their solution sets and making strategic decisions to fill those gaps with Baker Hill. We’re very proud of the year we had and expect even greater things this year.”