Digital lending strategy is more important than ever. While many financial institutions have competing priorities, now is the time to give the right-of-way to digital lending and pursue digital transformation throughout your entire lending process.
This quickstart guide to digital lending software will give you the tools you need to develop and implement a comprehensive digital lending strategy that will help you win the race to digital lending maturity.
Creating a digital lending strategy can be an overwhelming task, but Baker Hill can help put you in the driver’s seat. We have more than 35 years experience in helping financial institutions transform their lending business with our award-winning loan origination software. This resource guide will help you better understand what digital lending tools are available and how they can help you develop and implement a digital lending strategy for your financial institution.
Digital lending is no longer the future of banking – it’s today. Reduce friction throughout your lending workflow with modern digital lending solutions.
Want to get a baseline understanding of your existing digital lending strategy? Take our quick digital maturity assessment to gain insight into your loan origination process and receive information on how you can plan and execute a winning digital lending strategy at your financial institution.
A modern digital lending solution for statement spreading is the foundation of building your digital lending process. Generate actionable insights from financial analysis to further develop your digital lending strategy. A holistic financial analysis tool allows you to deliver quick, consistent credit decisions with features like:
This core component of the Baker Hill NextGen® platform facilitates reporting, data collection, global cash flow, covenants, a comprehensive credit memorandum, and more—all in one central location.
By leveraging an automated tax return and financial statement processing system, institutions can eliminate the tedious work of inputting financial statement and tax return data into statement spreads, thus ensuring an accurate and consistent approach to analyzing financial risk each and every time.
Create a strong foundation for your digital lending strategy while improving the quality and consistency of financial analysis with Baker Hill NextGen® Statement Spreading. Download the feature sheet and learn more.
“Online loan application” can mean different things to different people. For some, the thought of a business owner applying for a loan online seems too complex. For others, it means placing a document online for a customer to print and bring into a branch. However, you know that a true online loan application should integrate into your workflow and support your entire lending process from start to finish.
Today’s clients expect digital services almost everywhere they do business – and the expectations are the same if not greater for their financial institution. If a client isn’t able to conduct business in a way that’s convenient for them, they are more likely to move their banking relationship.
Meet customer expectations by offering small business and consumer loan origination applications digitally with an application branded for your institution. The online loan application and portal from Baker Hill NextGen® creates a fully digital lending experience that can be tailored to your needs, allowing you higher engagement with your borrowers during the loan acquisition process.
Western Alliance Bank, which prides itself on serving businesses, uses Baker Hill’s loan origination solutions to help manage smaller business loan requests with greater efficiency and ultimately, enable loan officers to spend their time pursuing larger commercial deals.
Digital lending transformation is still a hot topic among bankers and many institutions have pressed pause on digital transformation projects. The COVID-19 pandemic has put digital back in the spotlight with many community banks and credit unions realizing that they still have room to grow in their digital strategy. While there is always a reason to not pursue digital transformation, there are many more reasons to do so.
Create the digital lending experience that your customers expect and find even more loan opportunities with the Baker Hill NextGen® Online Loan Application. Download the feature sheet and learn more.
Commercial and small business loans pass through many hands throughout the lending process, but without the proper digital tools collaboration can be difficult. Understanding where every loan is in the approval process in real time enables your teams to work together more effectively and decision loans more efficiently.
Having one single source for granular visibility into your pipeline provides the data you need to identify bottlenecks in your lending workflow, project loan funding needs and timing, as well as forecast new loan bookings appropriately.
Our commercial loan origination system enables your institution to create the most efficient decisioning process with an optimized credit approval process that leverages workflow automation and business rules. Our single platform simplifies processes and improves efficiency. From start to finish, you can transform and manage the entire commercial lending process for commercial and mid-sized enterprises using Baker Hill’s solutions provide a framework to automate, integrate, and streamline all aspects of commercial lending.
With the right loan origination software, your bank can accomplish more together without the added cost of hiring and training employees.
What parts of your process have a single point of failure that will either slow down the lending process and make you lose that pending deal, place risk in the financial performance of the deal, or not even give insight into the potential opportunity? Collaboration can streamline, optimize, and enhance the digital lending process.
When it comes to implementing technology into the branches, many choose to try and piece meal different products and systems together. While you might think you’re saving money by only buying certain products from certain vendors, you’re most likely losing key integrations that come from having a single solution.
How do your lenders prospect for new business? How do you collect information on new prospects? What types of interactions are your employees having with prospects and clients? Being able to answer these questions is critical to effectively managing your lending pipeline and growing your business but bringing together the people and the process can be difficult.
A Client Relationship Management solution that is not just integrated but embedded in your loan origination software allows you to more effectively track and manage interactions. Since the relationships and the processes are managed in one place, this enables you to create accurate pipeline reports and grow your business while attracting and retaining your most valuable prospects and clientele.
Baker Hill NextGen® CRM integrates data into one simple tool to enhance the client experience and provide actionable insights.
With an effective CRM, a financial institution can better gain and retain business, but it must also focus on the sales management stage of the relationship cycle, addressing the need to attract and retain valuable clientele.
Gain and retain business with digital lending tools while transforming the way you bring people and processes together with the Baker Hill NextGen® CRM. Download the feature sheet and learn more.
As technology is evolving, so are consumer expectations – especially when it comes to transparency and communication. Keeping up with the expectations of your clients not only builds trust and loyalty, but allows you to more efficiently deliver on business objectives.
High engagement during the loan application creates high customer satisfaction. Leverage the power of a secure client portal to engage with, collaborate with, and update your customers so that they feel like a business partner with your institution, not just another number.
The Baker Hill NextGen® Client Portal is a solution that is accessible to both you and your customers so you can meet their desire for a convenient and simple communication process.
Use digital tools to create transparency in communication and improve engagement with your customers during the lending process and streamline the flow of data with the Baker Hill NextGen® Client Portal. Download the feature sheet and learn more.
Choosing the right digital lending partner can be a daunting task with many things to consider. Every financial institution is different, but creating and executing a digital lending strategy is critical in order to stay competitive and win in today’s enviornment.
Built on more than 35 years of innovation and experience serving community banks and credit unions, Baker Hill NextGen® has the digital lending tools community banks and credit unions need to drive loan growth, reduce risk and increase profitability. Our team of experts has helped financial institutions transform their lending processes with modern, digital loan origination solutions.
No matter where you are in the process, Baker Hill has the resources that can help you develop and implement your strategy for digital lending. If you’re ready to learn how Baker Hill can partner with your institution to deliver a comprehensive digital lending experience, help you increase efficiency, and grow your loan portfolio, request a consultation with our team today.
Not quite ready for a consultation but want to see where your institution is in the race to digital digital lending maturity? You can take this quick assessment to find out if you’re in the fast lane, on the right track, or still at the starting line when it comes to your digital lending strategy. After taking the assessment, you’ll receive additional digital lending resources and information based on your results.
Choosing the right loan origination system is an important decision. This additional resource guide will help you identify the right loan origination software to:
Check out this webinar recording that features a panel of banking leaders from across the country discussing trends in digital lending transformation and how it has impacted their institution:
Ready to learn more about loan origination systems and how they can help you develop and execute a winning digital strategy? Our Loan Origination Systems Basics resource guide is designed to help you better understand the basic features of loan origination systems as well as the benefits of implementing loan origination software for your financial institution.
Baker Hill is in the business of evolving loan origination by combining expertise in technology with expertise in banking. Baker Hill NextGen® is built on decades of walking alongside banks and credit unions as they provide vital resources to their communities. A configurable, single platform SaaS solution for commercial, small business, consumer loan origination and risk management that grows along with you as your business needs change, Baker Hill is lending evolved.
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