Time to Reimagine a Major Pillar of the Finance Industry?

The human arsenal might be expansive beyond all limits, but it still hasn’t possessed anything more valuable than that tendency of ours to grow on a consistent basis. This is because the stated tendency has notably enabled us to hit upon some huge milestones, with technology emerging as a major member of the group. Technology has always enjoyed such an esteemed stature for reasons that are, by and large, predicated upon its skill-set, which ushered us towards a reality nobody could have ever imagined otherwise. Nevertheless, if we look a little bit closer, it should 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. This revolution, as we went on to discover, will scale up the human experience in every conceivable sense, but even after achieving such a monumental feat, technology will somehow continue to bring the right goods to the table. The same has turned more and more evident in recent times, except assuming a newly-formed partnership ends up having the desired impact; it will only propel that trend to much greater heights for the future.

Baker Hill, a leading financial technology provider in delivering solutions for loan origination, risk management and analytics, has officially announced a strategic partnership with FlashSpread, as both the companies look to simplify the process of tax returns. But how are they going to achieve the stated goal? Well, this collaboration empowers the financial institutions that are using Baker Hill NextGen® platform to leverage FlashSpread’s auto-spreading technology and gain a comprehensive view of a taxpayer’s financial situation in a rather seamless manner. You see, FlashSpread is pretty much known for its excellence in streamlining the tax analysis process by converting PDF and scanned tax returns into standardized, spreaded reports, and it notably does so with just a click of a button. Such standardization, like anyone would guess, then goes on to help full-fledged financial institutions and independent lenders with their ultimate pursuit to process more business loan applications, while also realizing a meaningful leap on the accuracy front.

“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.”

Talk about how the collaboration might impact Baker Hill’s fortunes, the answer must begin from its intention to transform the entire loan origination business. The company’s innate technological prowess, placed alongside all the experience it earned after working with a host of banks and credit unions, has already resulted in an integrated SaaS solution platform called Baker Hill NextGen®, which can handle anything from consumer loan origination to holistic risk management. However, these capabilities, aided by the new partnership, should be looking at an expansion sooner rather than later.

“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,” said Mike Horrocks, Vice President of Product Management at Baker Hill.