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Old Point National Bank Taps Baker Hill for New Loan Origination System and Online Loan Application to Drive Efficiencies in Lending Process

CARMEL, IN – Baker Hill, a leading provider of technology solutions for common loan origination, risk management, relationship management and smart data analytics, announced that Old Point National Bank selected Baker Hill NextGen® for Commercial Lending and Direct Consumer Lending, as well as its online loan application solution. Together, these solutions will help the bank improve efficiencies in the lending process and modernize the borrower experience.

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. “Baker Hill’s implementation and advisory services are known to be ‘the best in the business,’ and that reputation coupled with the modern user interface and capabilities of Baker Hill NextGen® were key reasons Old Point National Bank ultimately selected Baker Hill.”

“Baker Hill’s best-in-class solutions, which use cutting-edge, cloud-based technology, combined with our team’s extensive expertise in lending, risk management and analytics, empower us to position our financial institution clients for success,” said John M. Deignan, President and CEO of Baker Hill. “We are able to offer a comprehensive set of features and functionality within the Baker Hill NextGen® platform and given our deep understanding of the industry, our team is well-equipped to help Old Point National Bank effectively leverage Baker Hill NextGen®’s loan origination solutions to achieve efficiencies in its lending process in a way that best serves their customers.”

Baker Hill empowers financial institutions to work smarter and drive more profitable relationships. The company delivers a single unified platform with solutions that streamline origination and portfolio management for business, consumer direct and indirect lending. The Baker Hill NextGen® platform also delivers sophisticated analytics and revenue enhancement solutions that support sound business decisions to mitigate risk and generate growth. Baker Hill is the #1 provider of member business lending services, serving 500 financial institutions, including more than 20% of the top 150 U.S. banks and 20% of the top 25 U.S. credit unions.

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