A Joint Bid to Disrupt the Lending Business

The human arsenal might be as expansive as one could possibly imagine, but it still doesn’t contain anything more valuable than that tendency of growing on a consistent basis. This progressive tendency, on our part, has enabled us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, based on its skill-set, which guided us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience from all conceivable directions, but even after achieving such a monumental feat, technology will somehow keep on producing the goods. The same has turned more evident in recent times, and assuming a newly-renewed partnership ends up working out like we envision, it will only transform that trend to something much bigger and better moving forward.

Union Bank of Vermont and New Hampshire has officially expanded its partnership with Baker Hill to streamline the entire loan origination and portfolio monitoring process. Under the expansion, Union Bank will adopt Baker Hill NextGen® solution, which is expected to be of huge help in scaling up efficiency and managing the commercial lending process with a single, integrated platform. This, on a more granular level, means that the bank will be able to leverage the platform to support better decisioning through optimized credit approval processes, grow and develop client relationships, and manage referrals more holistically etc. Hold on, there is more. The Baker Hill NextGen® specialized Client Portal also has a huge role to play here, as it will let Union Bank’s customers track their loan application from submission to closing, thus taking elements like transparency and communications to a level that has never been witnessed on the banking block before.

“For decades, Union Bank has been dedicated to providing a seamless experience for our commercial borrowers,” said Jonathan Gould, SVP of Union Bank. “From the start, our relationship with Baker Hill has proven to be valuable, which is why we’ve chosen to migrate to the Baker Hill NextGen® suite to further streamline our lending processes and create an exceptional experience for our commercial borrowers. We are excited to take our partnership to the next level and to leverage the full capabilities of the solution.”

The move builds upon Union Bank’s impressive contribution towards fulfilling the credit needs of the communities in which it operates, with the organization’s primary focus being low-and moderate-income neighborhoods. These values, when partnered with an optimal mix of financial expertise and advanced technology, have managed to make the bank a leader across both personal and commercial banking services. Now, owing to a massive upgrade around the technological aspect, the Union Bank should viably aim at delivering a much better banking experience moving forward.

Baker Hill, on the other hand, has been trying to reimagine the lending business through its proprietary configurable, single platform SaaS solution that can be relied upon for a range of purposes, such as commercial, small business, consumer loan origination, risk management, and more. Now, although the company has already achieved a lot in its niche, this partnership with Union Bank can very well help Baker Hill step into the next, and a much smarter, chapter of its journey.

“Union Bank has a long history of providing excellent customer service. Our team is proud to support the bank’s high standard of service with our best-in-class loan origination solution,” said John Deignan, president and CEO of Baker Hill. “We look forward to our expanded partnership with Union Bank, as we continue helping their team and customers achieve their business goals.”