Baker Hill, a leading provider of technology solutions for commercial loan origination, risk management, relationship management and smart data analytics, has expanded its partnership with Marquette Bank and will implement several Baker Hill NextGen™ solutions.
Marquette Bank has also renewed its contract and upgraded to Baker Hill NextGen™ for Commercial Lending following its success using the company’s previous commercial loan origination solution. Based in Chicago with $1.6 billion in assets, Marquette Bank has been a Baker Hill client for nearly 20 years.
With its commercial lending solution in place, the bank has been able to automate its lending processes and improve its credit memo creation time by upwards of 25 percent. Consequently, the bank has gained significant efficiencies in the lending process and has enhanced the customer experience with faster turnaround times, resulting in Marquette’s decision to renew its contract and upgrade to Baker Hill NextGen™ for Commercial Lending.
Given Marquette Bank’s longstanding success with Baker Hill, the bank opted to implement additional Baker Hill solutions on this new, common loan origination and portfolio management platform to further optimize lending operations. Specifically, Marquette Bank sought to streamline its small business lending, loan application and loan renewal processes while standardizing its pricing model to enhance profitability. To achieve this, the bank selected Baker Hill NextGen™ Portfolio Risk Management, Pricing and Profitability, Small Business Loan Origination and Online Loan Application solutions.
With Baker Hill NextGen™ Portfolio Risk Management and Small Business Loan Origination, the bank expects to improve its process for annual reviews and loan renewals, reducing both decisioning times and operational costs. Baker Hill NextGen™ Small Business Loan Origination will also enable the bank to establish a consistent and efficient framework for its small business lending process. Baker Hill NextGen™ Online Loan Application will ensure more complete loan applications are submitted to underwriting faster, which will improve client satisfaction and improve bank ROA and ROI.
“We are pleased with the direction Baker Hill is taking with NextGen™ and our staff is looking forward to leveraging the solution’s latest functionalities,” said Frances Brashares, AVP, Commercial Loan Operations Manager, at Marquette Bank. “Baker Hill NextGen™ offers greater flexibility so we can adapt the solution to our specific needs, which will enable us to provide the outstanding experience our customers expect.”
“Marquette Bank’s ability to efficiently manage complex commercial lending requirements while mitigating risk has allowed the bank to quickly capitalize on new deal opportunities. We fully anticipate continued success and growth for the bank,” said John M. Deignan, President and CEO of Baker Hill. “Implementing the additional Baker Hill NextGen™ solutions will empower Marquette Bank to further boost its productivity and profitability while meeting the heightened expectations of today’s consumers.”