Washington Trust Bank Expands Partnership to Baker Hill NextGen
- Investment Management , Risk Management , Alternative Finance
- 19.02.2020 07:34 pm
Baker Hill, the leading financial technology provider in delivering solutions for common loan origination, risk and relationship management, CECL, and smart data analytics, today announces a renewed partnership with Washington Trust Bank. Washington Trust Bank will be migrating to Baker Hill NextGen®, Baker Hill’s unified solution that streamlines loan origination and portfolio risk management for commercial, small business and consumer lending.
Washington Trust Bank, the oldest and largest privately held commercial bank in the Pacific Northwest, is a diversified financial service holding company headquartered in Spokane, Washington with more than 40 financial centers and offices in Washington, Idaho and Oregon. Since 1902, Washington Trust Bank has endeavored to provide customers with quality service and financial stability. With an emphasis on customer service and relationship lending, Washington Trust Bank contains a strong commercial and industrial portfolio. Other concentrations include agriculture, commercial real estate, and professional lending.
By utilizing Baker Hill Advisor, Washington Trust was able to minimize the number of systems that their relationship managers needed to work with for their commercial and portfolio risk management. Their solution suite also includes online loan application and consumer loan origination. Choosing to build upon its existing relationship with Baker Hill by migrating to Baker Hill NextGen®, the bank will gain a modern user interface that is engineered to adapt to the evolving needs of clients and offer access to all functions and data within a singular platform.
“We’ve been more than satisfied by our existing relationship with Baker Hill over the years, making this transition into Baker Hill NextGen® even more exciting,” said Jack Heath, president and chief operating officer of Washington Trust Bank. “Being our trusted solution provider made choosing Baker Hill NextGen® an easy decision and we look forward to continuing to grow with them in the future.”
Washington Trust Bank’s decision to transition to Baker Hill NextGen® solution was driven by a desire to serve customers more efficiently while offering the industry’s best resources for portfolio management. With Baker Hill NextGen®, Washington Trust Bank can automate, integrate and streamline commercial lending processes, allowing small and medium-sized businesses to increase productivity while minimizing risk.
“We are thrilled to expand our partnership with Washington Trust Bank into the logical next phase of collaboration,” said John M. Deignan, president and chief executive officer of Baker Hill. “We’re looking forward to this evolution of the relationship with the expanded capabilities and software needed to support their requirements with Baker Hill NextGen®.”
Baker Hill NextGen® is a unified, responsive, cloud-based solution for loan origination, portfolio risk management and business intelligence, designed to meet the modern needs of financial institutions in a single platform. Baker Hill NextGen® is also the expert solution for relationship management, CECL and analytics for financial institutions. Other features include commercial loan origination for judgmental decisioning, client relationship management and exception tracking. The solution combines comprehensive loan origination features with the latest technical advancements in cloud and mobile computing, streamlining lending processes and portfolio risk management while improving accuracy and enabling a better customer experience.
This news follows the announcement of Baker Hill being selected by Aite Group as best-in-class commercial loan origination system. The analyst firm’s 2019 Impact Report, “Commercial Loan Origination: Evaluating Vendors That Hone The Tip of the Spear,” recognized Baker Hill’s breadth of product features, superior client services, and client loyalty in the market.