Amalgamated Bank Selects Baker Hill

Rhea-AI Summary

Amalgamated Bank selects Baker Hill NextGen® Statement Spreading to optimize financial analysis for commercial loans.

Positive

• Amalgamated Bank will streamline financial analysis for commercial loans by leveraging Baker Hill NextGen® Statement Spreading.
• The bank's credit analysts will be able to conduct complex ratio analyses, projections, peer comparisons, sensitivity analyses, and global cash flow analyses more efficiently.

Negative

• None.

New York-based bank selects Baker Hill NextGen® Statement Spreading to optimize financial analysis for commercial loans

CARMEL, Ind., Oct. 3, 2023 /PRNewswire/ -- Baker Hill, the leading financial technology provider in delivering solutions for loan origination, risk management, and analytics, has added Amalgamated Bank to its growing client roster. The New York-based bank will leverage Baker Hill NextGen® Statement Spreading to streamline financial analysis for commercial loans. 

For nearly a century, Amalgamated Bank has been America's socially responsible bank supporting thousands of people, organizations, causes and businesses committed to making a positive difference in the world. As a Certified B Corporation and a member of the Global Alliance for Banking on Values, Amalgamated Bank aims to serve organizations and businesses that not only have strong financials, but are also making the world a more equitable and sustainable place.

To further its mission of serving customers and clients that are making a meaningful impact in the world, Amalgamated Bank has chosen Baker Hill NextGen® Statement Spreading to improve its financial spreading analysis and better manage credit risk. The bank will deploy the new statement spreading solution for its Commercial and Industrial (C&I) Lending division.

With Baker Hill NextGen® Statement Spreading, the bank's credit analysts will be able to more efficiently conduct complex ratio analyses, projections, peer comparisons, sensitivity analyses and global cash flow analyses.

"Baker Hill's team takes great pride in partnering with Amalgamated Bank, as they have grown to support thousands of people, organizations, causes and businesses committed to improving the world we live in," said John Deignan, president and CEO of Baker Hill. "By implementing a comprehensive solution like our Statement Spreading tool, the bank will position itself to continue making informed loan decisions that help both the businesses they serve, as well as their institution, prosper long term."

About Amalgamated Bank
Amalgamated Bank, the wholly owned banking subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), is a mission-driven New York-based full-service commercial bank and a chartered trust company with a combined network of six branches in New York City, Washington D.C., San Francisco, and Boston. Amalgamated Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Since their founding in 1923, Amalgamated Bank has used the power of banking to create impact and empower organizations and individuals to advance positive social change. Amalgamated Bank advocates alongside those working to make the world more just, compassionate, and sustainable. Amalgamated Bank is the country's largest B Corp® bank and a proud member of the Global Alliance for Banking on Values. www.amalgamatedbank.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.

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SOURCE Baker Hill