Baker Hill, a leading financial technology provider in delivering solutions for loan origination, risk management and analytics, has partnered with FlashSpread, a BeSmartee company that provides cloud-based software solutions to automate the spreading process for tax returns.
Through the partnership, financial institutions using Baker Hill NextGen® can leverage FlashSpread’s auto-spreading technology to gain a comprehensive view of a taxpayer’s financial situation quickly and easily without time-consuming, manual data entry. FlashSpread streamlines the tax analysis process by converting PDF and scanned tax returns into standardized, spreaded reports with the click of a button. As a result, financial institutions and lenders can process more business loan applications with increased accuracy.
“Tax returns are increasingly becoming a common part of the commercial underwriting process,” said Ariel Trybuch, Vice President of Commercial Lending at FlashSpread. “Tax returns are difficult to understand and, historically, they have been manually input. That is a tremendously inefficient way to work. Baker Hill is a best-in-breed loan origination solution and combined with FlashSpread’s automation, they will be able to offer an industry leading experience to their clients. The result is happy lenders who can better serve their customers and their communities.”
“Interpreting a tax return can be challenging for lenders who aren’t CPAs or tax professionals, but accurately analyzing tax data is key to generating business loan growth,” said Mike Horrocks, Vice President of Product Management at Baker Hill. “Baker Hill’s integration with FlashSpread will empower financial institutions to quickly and easily analyze more deals to grow their loan portfolios while mitigating risk. We are proud to partner with FlashSpread and offer our clients new ways to streamline their tax analysis workflows and create a more productive lending process.”