Baker
Hill – a leading provider of technology solutions for common loan
origination, risk and relationship management, CECL compliance, and
smart data analytics – and Validis
– a pioneer of financial data sharing and standardization technology –
have entered into a strategic partnership to combine the companies’
industry-leading technology.
Through this partnership, Validis’ world-leading financial data sharing
and standardization technology platform, DataShare, will integrate with
Baker Hill NextGen®, the expert cloud solution for lending, risk
management, CECL compliance, and analytics. As a result, financial
institutions will fully automate statement spreading and benefit from an
enhanced SMB lending process. The combined technology will enable
financial institutions to offer higher value, personalized services to
potential customers and build a satisfied, loyal customer base.
Automating the gathering and consumption of financials commonly cuts
weeks off the commercial lending process. The function drives much more
rapid growth in a bank’s C+I portfolio and reduces the time pressure on
underwriting by as much as 90 percent by delivering standardized and
complete financials at the touch of a button.
Validis’ DataShare, which features a suite of APIs and an online portal
to view the data, provides financial institutions with fast, easy access
to an SMB client’s financial data, direct from their accounting
application, in a standardized format. SMB borrowers benefit from
quicker decisions and automation of the collection and transfer of their
financial data to the financial institution. Likewise, financial
institutions benefit from access to the borrower’s accurate, complete
and current financial data, which provides greater insights, speeds
decisioning and minimizes risk. Validis connects to over 80 percent of
online and offline accounting applications used by the SMB market and
extracts the full transactional history.
More than just another loan origination system, Baker Hill NextGen® is
the most powerful banking solution in cloud technology, empowering its
customers with unprecedented core strength combined with risk management
and unparalleled insights – all through a single platform. Specifically
engineered to adapt to the evolving needs of banks and credit unions,
Baker Hill NextGen® is the intelligent choice for those who want to
boost productivity, maximize convenience and lower costs of ownership.
The platform uses the most advanced, flexible and scalable technology
stack in existence today to allow for seamless data and third party
integrations. Packed with the functionality required in today’s evolving
financial services landscape, development of Baker Hill NextGen® was
informed by more than 35 years of industry expertise.
By integrating these two platforms, financial institutions will now have
access to a superior, automated statement spreading solution that offers
unprecedented insight into the commercial lending underwriting process.
This revolutionary combination will not only offer financial
institutions greater efficiency and consistency to make sound credit
decisions, but it will also streamline the collection of financials from
business customers and provide a better experience. No configuration or
data preparation is required for either the financial institution or the
borrower, and borrowers’ complete financials are delivered into Baker
Hill NextGen® within minutes.
“With DataShare, financial institutions gain a comprehensive view of an
SMB borrower’s financial health, ultimately becoming a true partner to
their customers,” said Joel Curry, CEO of Validis. “By combining this
technology with Baker Hill NextGen®, we are empowering financial
institutions with fast and easy access to clients’ financial data in a
standardized format. Baker Hill has made a substantial impact on the
financial services industry, not only driven by its three decades of
expertise and technology, but by its executive leadership team. We
believe this relationship will drive future success and growth of our
customers’ businesses.”
“Because of our rapid success and as evidence of our superior innovation
and expertise, Baker Hill NextGen® has captured the attention of the
financial services industry and attracted a number of high-tech,
high-profile, innovative companies like Validis as strategic partners,”
said John M. Deignan, President and CEO of Baker Hill. “Our partnership
with Validis illustrates the impact of Baker Hill NextGen® and the need
for powerful technology for both loan origination (from online loan
applications to complete lending process management) and portfolio risk
management, making it possible for financial institutions to
aggressively compete while driving profitability. This relationship is
an exciting venture for us and we look forward to the value it will
provide the entire industry.”
About Validis
Led by experienced and influential finance and technology experts,
Validis digitally connects commercial lenders and accountants to their
customers’ accounting applications, standardizing the data and
autogenerating financials. Our comprehensive suite of APIs provides
massive efficiency gains, revolutionizing time consuming, manual
processes, while the depth and structure of the data delivered powers
auto-decisioning and greater insight. Validis is headquartered in the
United Kingdom with offices in North America. For more information,
please visit www.validis.com.
About Baker Hill
Baker Hill empowers financial institutions to work smarter, reduce risk
and drive more profitable relationships. The company delivers a single
unified platform with modern solutions to solve CECL calculations and
streamline loan origination and portfolio risk management for
commercial, small business and consumer lending. The Baker Hill NextGen® platform
also delivers sophisticated analytics and marketing solutions that
support sound business decisions to mitigate risk, generate growth and
maximize profitability. Baker Hill is the expert solution for loan
origination, portfolio risk and relationship management, CECL compliance
and analytics for financial institutions in the United States. For more
information, visit www.bakerhill.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190417005123/en/