Through the partnership expansion, Salem Five Bank will gain new efficiencies in small business and commercial lending with Baker Hill NextGen®
Baker Hill, the leading financial technology provider in delivering solutions for loan origination, risk management, and analytics, today announces an expanded partnership with Salem Five Bank. The bank has upgraded to Baker Hill NextGen®, Baker Hill’s unified solution that streamlines loan origination and portfolio monitoring.
Salem Five is a highly regarded community savings bank founded in 1855 providing financial services for people and businesses across eastern Massachusetts that include banking, mortgage lending, loans, insurance, and investments. By upgrading from Baker Hill’s legacy product to Baker Hill NextGen®, Salem Five Bank will be able to leverage efficiencies and drive incremental proficiencies to the lending process while gaining access to all functions within a singular platform. Salem Five Bank plans to use this opportunity to increase focus on their small business and commercial lending offerings.
“Salem Five is looking forward to digitizing our lending environment and leveraging the workflow capabilities of Baker Hill NextGen® solutions to drive efficiency and growth in this key business area,” said Kevin Rourke of Salem Five Bank. “We were impressed by the extent of the Baker Hill NextGen® platform and are looking to leverage the full capabilities of the solution.”
Salem Five Bank’s decision to transition to the Baker Hill NextGen® solution was driven by a desire to improve the lending system for commercial and small business lending, benefiting every person in the loan workflow from customers to the loan processing and servicing teams. Specifically looking to utilize the end-to-end loan origination platform and reporting, as well as the ability to centralize everything in one platform, the bank can greatly improve current proficiencies.
“It’s always satisfying to bring our best-in-class solution to the clients that have trusted us with their partnership for years,” said John M. Deignan, president and chief executive officer of Baker Hill. “We’re looking forward to Salem Five making the transition to Baker Hill NextGen® and continuing this partnership for many more years.”
With over 35 years of industry expertise, Baker Hill is providing state of the art lending and risk management solutions with unparalleled advisory support to both new and existing clients experiencing an increase in demand volume.
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