Home Bank Migrates to Baker Hill NextGen® Business Loan Origination, Adds CECL Functionality to Full Suite of Products
- Risk Management
- 17.10.2019 05:05 am
Baker Hill, a leading financial technology provider, delivering solutions for common loan origination, risk and relationship management, CECL, and smart data analytics, announced that Lafayette, La.-based Home Bank has renewed its relationship with Baker Hill, including the addition of Baker Hill NextGen® CECL and Baker Hill NextGen® Business Loan Origination, to increase productivity and efficiency in the lending process and deliver an exceptional digital experience to clients.
For more than 110 years, Home Bank has committed to serving the financial needs of Lafayette Parish, expanding into South Louisiana and Western Mississippi. With a reputation as a trusted financial partner for families and businesses across the community, Home Bank chose to build upon its existing relationship with Baker Hill by migrating to Baker Hill NextGen® and incorporating additional features and functionality with Baker Hill NextGen® Business Loan Origination and CECL. As a result, 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. Home Bank will leverage Baker Hill NextGen® CECL to help turn the upcoming Current Expected Credit Loss (CECL) requirements into a strategic advantage.
Historically, Home Bank underwrote all business loans similarly to commercial loans, creating a tedious process for small business owners. The decision to shift to Baker Hill NextGen® Business Loan Origination was driven by a desire to serve these customers more efficiently while offering the industry’s best resources for portfolio management. With Baker Hill NextGen®, Home Bank can automate, integrate and streamline commercial lending processes, allowing small and medium-sized businesses to increase productivity while minimizing risk. The platform will also help the bank create an online presence, rounding-out the full digital experience for clients.
“Much like many community banks today, we have a handful of disparate systems that lenders and frontline users must use to complete simple requests,” said Darren Hill, SVP, Credit Manager of Home Bank. “The biggest benefit Baker Hill NextGen® will bring to our bank is having everything in one central platform. Our lenders are excited about the opportunity to eliminate redundant data entry and access efficient business lending and portfolio management tools while driving loan growth.”
Hill continued, “Baker Hill’s Advisory Services team was with us every step of the way to ensure a smooth implementation process. The team was very helpful and nimble, working closely with our bank to make changes and tweaks along the way and accommodate our needs to offer the best service to our customers.”
“Home Bank is paving the way for community financial institutions looking to fulfill the needs of their business customers,” said John M. Deignan, President and CEO of Baker Hill. “Baker Hill serves as the conduit to getting small business loans through the pipeline quickly and efficiently. After working with Home Bank for many years, we’re looking forward to this next stage of our relationship and providing guidance to help the bank and its customers generate growth, reduce risk, and improve productivity and profitability.”