Commercial lending is very complex and requires financial institutions take additional steps in the loan origination process than are required for small businesses. Overall, it is a very time-consuming process, making the cost to originate a commercial loan extremely high. Streamlining the origination process by having all loans pass through one solution will promote a consistency in the lending process that will significantly impact a financial institution's bottom line by saving valuable time, resources and money.
"All credit requests are not alike and should not be treated the same," according to Joe Kuntz, president of Baker Hill. "Bank2Business now gives financial institutions the flexibility to manage those requests in the manner that works best for them while supporting their credit policy, all with a single application."
"Financial institutions require a commercial loan origination platform that can be used across their entire portfolio -- whether it is lending to small, medium or large businesses," continued Kuntz. "Bank2Business meets these specific needs by leveraging Baker Hill's technology with Experian's deep coverage of commercial and business owner information. This powerful combination offers them an easy-to-use, single-sourced solution that provides a more comprehensive view of a business to make better lending decisions."
Bank2Business is currently used by more than 180 financial institutions. For more information on Bank2Business or Baker Hill's other origination services, please call 800 821 2220 or visit http://www.bakerhill.com/.
Bank2Business is a hosted service that uses browser-based technologies to automate the business credit request process, commercial to small business. It manages the complete application process -- from inception through document preparation to boarding and loan servicing. Two versions are available: with and without predictive credit modeling.
Baker Hill delivers solutions that address business process needs and works as a trusted adviser to its banking clients. Baker Hill understands the banking processes, knows how to implement technology to enable those processes and has a long history of client success from which to mine best practices. More than 1,200 financial institutions in all industry segments have drawn on Baker Hill's business expertise and have chosen its relationship management, credit origination and portfolio risk-management solutions as their enabling technologies.
Experian(R) is a global leader in providing analytical and information services to organizations and consumers to help manage the risk and reward of commercial and financial decisions. Combining its unique information tools and deep understanding of individuals, markets and economies, Experian partners with organizations around the world to establish and strengthen customer relationships and provide their businesses with competitive advantage. For consumers, Experian delivers critical information that enables them to make financial and purchasing decisions with greater control and confidence. Clients include organizations from financial services, retail and catalog, telecommunications, utilities, media, insurance, automotive, leisure, e-commerce, manufacturing, property and government sectors.
Experian Group Limited is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. It has corporate headquarters in Dublin, Ireland, and operational headquarters in Costa Mesa, Calif., and Nottingham, UK. Experian employs more than 12,500 people in 34 countries worldwide, supporting clients in more than 60 countries. Annual sales are in excess of $3.1 billion.
Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein may be the trademarks of their respective owners.
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