CARMEL, Ind., July 17, 2023 /PRNewswire/ — Baker Hill, the leading financial technology provider in delivering solutions for loan origination, risk management and analytics, today announced an expanded partnership with BOK Financial. The financial institution will upgrade to Baker Hill NextGen®, a unified solution that streamlines loan origination and portfolio monitoring.
Founded in 1910 and headquartered in Tulsa, Okla., BOK Financial offers wealth, commercial and consumer products and services to clients across the country. For over 100 years, BOK Financial has remained dedicated to building strong client relationships and fueling economic growth for the communities it serves. To further its mission, BOK Financial recently expanded its relationship with Baker Hill, with plans to upgrade to the Baker Hill’s NextGen® Small Business platform to enhance the lending experience for business clients.
With Baker Hill NextGen®, BOK Financial will manage business credit requests of all sizes with greater speed and consistency while mitigating portfolio risk, enabling the financial institution to focus on relationship-building with its clients. Baker Hill’s expertise in small business scoring automation was a key reason the company chose to upgrade to the company’s flagship loan origination solution. Migrating to Baker Hill NextGen® will also equip BOK Financial to comply with the Consumer Financial Protection Bureau’s (CFPB) regulatory updates to Section 1071, which will take effect in 2024.
Additionally, BOK Financial will leverage other features within the Baker Hill NextGen® suite, including the Banker Application, which empowers all client-facing team members to collect and submit complete loan requests confidently and efficiently. The financial institution will also use the Baker Hill NextGen® Client Portal, which allows clients to track their loan application from submission to closing, offering greater transparency and enhanced communication during the application process.
“BOK Financial strives to make a meaningful impact for our clients’ financial futures and that means we are deeply focused on relationships, not just transactions. This value extends to our partners too, as we view Baker Hill as more than a vendor, but as a strategic partner,” said Marcus Humphrey, director of home loans digital platform for BOK Financial. “Our relationship with Baker Hill is a testament to their small business lending expertise and history of delivering results for BOK Financial. We are thrilled to take our partnership to the next level and utilize the Baker Hill NextGen® suite to its fullest potential.”
“From the start, we have admired BOK Financial’s commitment to making a positive difference for clients and businesses in the communities they serve. Equally impressive is the bank’s unwavering focus on their team members and empowering each employee to deliver a world-class client experience,” said John M. Deignan, president and CEO of Baker Hill. “We are proud to support the bank on these initiatives with Baker Hill’s proven loan origination tools, which are thoughtfully designed to deliver an exceptional experience for all stakeholders throughout the lending process.”
About BOK Financial Corporation
BOK Financial Corporation is a $46 billion regional financial services company headquartered in Tulsa, Oklahoma with $102 billion in assets under management or administration. The company’s stock is publicly traded on NASDAQ under the Global Select market listings (BOKF). BOK Financial Corporation’s holdings include BOKF, NA; BOK Financial Securities, Inc., BOK Financial Private Wealth, Inc. and BOK Financial Insurance, Inc. BOKF, NA’s holdings include TransFund and Cavanal Hill Investment Management, Inc. BOKF, NA operates banking divisions across eight states as: Bank of Albuquerque; Bank of Oklahoma; Bank of Texas; and BOK Financial in Arizona, Arkansas, Colorado, Kansas and Missouri; as well as having limited purpose offices in Nebraska, Wisconsin and Connecticut. Through its subsidiaries, BOK Financial Corporation provides commercial and consumer banking, brokerage trading, investment, trust and insurance services, mortgage origination and servicing, and an electronic funds transfer network. For more information, visit www.bokf.com.
About Baker Hill
Baker Hill is in the business of evolving loan origination by combining expertise in technology with expertise in banking. Built on decades of walking alongside banks and credit unions as they provide vital resources to their communities, Baker Hill NextGen® is a configurable, single platform SaaS solution for commercial, small business, consumer loan origination, and risk management that grows along with you as your business needs change. Baker Hill is lending evolved. For more information, visit bakerhill.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/bok-financial-upgrades-to-baker-hill-nextgen-in-newly-expanded-partnership-301877963.html
SOURCE Baker Hill