Baker Hill, a known provider of tech-inclined solutions for common loan origination, relationship
In a bid to recognize its amazing innovations and one-of-a-kind technology products and their great features, Baker Hill was nominated for “New Tech Product of the Year” for its 2018 launch of its flagship product, Baker Hill Next Gen® helps financial institutions to do their work in smarter ways as well as foster better relationships that bring more profit to the table. This tech product is one that allows a mix of loan origin and risk management functionality in just one platform.
The product was basically to combat the issue of the use of multiple yet disjointed setups for the management of portfolio and loan origination by most financial institutions, which limits their competitive advantage with the greatest of institutions.
Several problems keep coming up for credit unions and banks which is tied to a great increase in the number of competitors they have today, more than they have ever recorded in the past. Competitions that never existed before, such as that of lenders like Kabbage and OnDeck for market share, now exists. This situation is a clear potential for banks to run at loss.
As a direct way of combating the situation, the system built by Baker Hill works on the issue of loan origination as well as portfolio risk management. Baker Hill Next Gen® has a major commitment to ensure institutions keep being aware beforehand, about the regulatory changes occurring in their space. Baker Hill continues as a leader in the industry, continuing to ensure that theirs is the most innovative system in the history of lending.