Old Point National Bank has selected Baker Hill NextGen for commercial lending and direct consumer lending, as well as its online loan application solution.
Old Point National Bank, based in Hampton, Virginia with $988 million in assets, sought a new loan origination system for both commercial and consumer loans to streamline the entire lending process.
To accomplish this, Old Point needed a user-friendly, cloud-based system that fit within the bank’s IT infrastructure and an established vendor with strong implementation and support services. Given Baker Hill’s longstanding success in the lending space, the bank selected Baker Hill NextGen® for Commercial Lending and Direct Consumer Lending.
With Baker Hill NextGen®, Old Point National Bank will be able to originate commercial and consumer loans and manage risk on a single platform.
The solution’s intuitive, mobile-responsive architecture, fluid workflows and robust decision engine will help the bank boost productivity by seamlessly integrating into the bank’s existing core solution and reducing duplicate data entry.
The bank also plans to leverage the solution’s customizable reporting, pipeline management and cross-sell features to grow and nurture relationships with customers.
Additionally, Old Point National Bank will implement Baker Hill NextGen® Online Loan Application to offer customers a quick and easy way to apply for loans via their preferred device at any time, regardless of branch hours.
The feature’s responsive design maximizes digital outreach to customers while saving hours of manual data entry for the bank’s employees, lowering origination costs.
“With our new loan origination system, we expect to significantly improve the efficiency of our lending process and enhance the borrower experience,” said Erin Black, Senior Vice President and Marketing Director of Old Point National Bank.
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