Baker Hill, a leading provider of technology solutions for common loan origination, relationship management and smart data analytics, announced that Level One Bank has selected its Bank2Consumer and Bank2Business loan origination solutions.
Farmington Hills, Mi.-based Level One Bank has seen organic loan growth of more than 25 percent for the past three years, prompting the bank to identify technology capable of driving efficiencies through each stage of the loan lifecycle. After carefully evaluating multiple providers, the bank selected Baker Hill’s Bank2Consumer and Bank2Business platforms to drive all aspects of its lending business, from underwriting and approval through documentation, reporting and monitoring of loan relationships.
“We carefully reviewed the technology available in the market, concluding that Baker Hill offered the most robust, proven solution to accommodate our rapidly growing loan portfolio,” said Gregory Wernette, EVP and chief lending officer for Level One Bank. “By relying on Baker Hill’s lending technology, we look forward to gaining new efficiencies and capabilities through the lifecycle of our loan relationships, which will allow us to better serve clients while maintaining the credit quality that underpins all of our ongoing success.”
Bank2Business and Bank2Consumer expedite the credit request process for consumer and business loans, enabling financial institutions to manage a greater volume of applications in a quick and consistent manner. The platforms collect applicants’ personal and business financial history data and account for each institution’s credit policies to support multiple decision strategies while mitigating risk and ensuring compliance. Level One Bank also plans to implement Baker Hill’s Statement Analyzer tool, which provides web-based financial analysis to help the bank evaluate customers’ credit risk and make sound credit decisions.
“Level One Bank exemplifies a progressive and growing community bank with a vision of providing a better way for its consumer and business customers to bank,” said Naseer Nasim, CEO of Baker Hill. “The bank understood that, based on its outstanding growth, leveraging technology was a must. Our loan origination solutions will help Level One Bank remove the numerous touchpoints and instead, automate the loan lifecycle to make decisions that are sound and fast, while focusing more on delivering exceptional customer service.”
In addition to faster turnaround times, Level One Bank selected Baker Hill’s technology based on its ability to automate compliance tasks as well as for its powerful reporting features.