ChoiceOne Bank and DPT Solutions Offer Metriciti, A Commercial Lending Platform Built for Community Banking

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ChoiceOne Financial Services (NASDAQ: COFS) and DPT Solutions have partnered to offer Metriciti, a revolutionary commercial lending platform for community banks. Developed internally by ChoiceOne over four years, Metriciti has driven significant loan growth and is now available nationwide through DPT as the exclusive reseller.

Metriciti offers a customer-centric approach to lending with advanced data analytics, streamlined operations, and high security standards. It addresses the technology gap faced by smaller banks, providing an efficient solution that can scale with growth demands.

The platform has garnered strong market interest, with DPT handling sales, implementation, and support. ChoiceOne's leadership views Metriciti as a game-changer for community banks, offering a competitive edge in an increasingly challenging financial landscape.

SPARTA, Mich. and GRAND RAPIDS, Mich., July 17, 2024 /PRNewswire/ -- ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) ("ChoiceOne") along with DPT Solutions (DPT) are pleased to announce their partnership to offer Metriciti. Metriciti is a revolutionary commercial lending platform that promises to redefine how financial institutions manage their lending from leads to loans and beyond. DPT is the exclusive reseller of Metriciti and is now available to community banks nationwide.

ChoiceOne Bank has partnered with DPT Solutions to offer Metriciti, a revolutionary commercial lending platform.

"In an industry where innovation often feels out of reach for smaller players, ChoiceOne took an ambitious leap and transformed a challenge into a groundbreaking opportunity," said ChoiceOne CEO Kelly Potes. "Faced with the limitations of existing commercial lending platforms for community banks, while in the midst of Covid-19 and two bank acquisitions, ChoiceOne developed our own solution. Building Metriciti was a strategic move we made that has already reshaped our future. Now we are pleased to offer the opportunity for other community banks to explore Metriciti through our exclusive reseller, DPT Solutions."

Metritciti is a customer-centric approach to lending with advanced data analytics, streamlined operations and the highest standards of data security and compliance. Developed internally over the past four years, Metriciti has played an integral role in driving ChoiceOne's loan growth. What started as an ambitious idea has now led to an opportunity to share Metriciti with other financial institutions seeking enhanced efficiency and technology that can scale with growth demands.

"We are pleased to partner with ChoiceOne and work with other financial institutions," said DPT Solutions Chief Executive Officer Dan McGraw. "Early last year, we had another bank contact us to look at Metriciti as they were investigating a similar path. These discussions led ChoiceOne to travel down a path they had only faintly envisioned – selling Metriciti to other financial institutions. As a result, ChoiceOne and DPT began 're-building' Metriciti into a new structure that would allow for other institutions to purchase the platform and benefit from the product that ChoiceOne and DPT created. ChoiceOne spun the intellectual property into a new entity and enlisted DPT to be the exclusive reseller, handling all sales, implementation and support."

Today, through DPT, the partners are offering Metriciti to the marketplace. The early interest has exceeded the partners' expectations, and they are building a significant pipeline of financial institutions in varying stages of their buying cycle.

"DPT is known for building human-centered solutions," said McGraw. "As the exclusive reseller of Metriciti, our team will work exclusively with financial institutions to ensure their lead to loan process is executed within the Metriciti ecosystem. We will also provide ongoing support. Our vision is to usher in a new era of financial services. We believe that financial institutions, like many other industries, not only need to keep pace with change but lead it."

"The demand in the marketplace is strong for a new commercial lending platform that doesn't conform to the traditional mold," said ChoiceOne Vice President, Lending Technology Josh Hucul and the lead on the Metriciti project from the beginning. "Banks are realizing that disparate systems and manual processes don't add the value that is needed to be successful today. These banks are also realizing that the user experience is critical for both customers and internal users, something most platforms fail to deliver."

ChoiceOne President Michael J. Burke, Jr. commented, "Community banks are vital to local businesses and economies. Often, we are underserved in the technology platforms that are best suited for how we operate as a bank. Ultimately there was a gap that ChoiceOne identified in our commercial loan origination platform, and we decided to fulfill our own needs. Metriciti is critical for our long-term success with data becoming more important, clients relationships becoming more competitive, and labor being more difficult to attract and retain. Now Metriciti can be a game changer for other likeminded community banks."

For additional information visit metriciti.com/

About DPT Solutions
With over 20 years in business, DPT Solutions is owned and operated in West Michigan. DPT employs a team of visionaries, business strategists and technology innovators who have held senior leadership positions across various industries and business sizes. DPT's combined business strategy team has over 100 years of experience working in senior leadership positions. Because of this experience, DPT doesn't only talk strategy, they understand the challenges and have the knowledge and network to solve them. Leading with "why" is what makes DPT different. For more information, please visit https://dptsolutions.com/.

About ChoiceOne
ChoiceOne Financial Services, Inc. is a financial holding company headquartered in Sparta, Michigan, and the parent corporation of ChoiceOne Bank. Member FDIC. ChoiceOne Bank operates 35 offices in parts of Kent, Ottawa, Muskegon, Newaygo, Lapeer, St. Clair, Macomb, and Oakland counties. ChoiceOne is an approximately $2.7 billion-asset bank holding company making it the eighth largest bank holding company in Michigan based on asset size. ChoiceOne Bank offers insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial Services, Inc. common stock is quoted on the Nasdaq Capital Market under the symbol "COFS." For more information, please visit Investor Relations at ChoiceOne's website choiceone.bank.

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SOURCE ChoiceOne Bank

FAQ

What is Metriciti and who developed it?

Metriciti is a revolutionary commercial lending platform developed internally by ChoiceOne Bank (COFS) over the past four years. It's designed specifically for community banks to enhance their lending processes from leads to loans and beyond.

How can other banks access the Metriciti platform?

Other banks can access Metriciti through DPT Solutions, which is the exclusive reseller of the platform. DPT handles all sales, implementation, and support for financial institutions interested in purchasing Metriciti.

What benefits does Metriciti offer to community banks?

Metriciti offers community banks advanced data analytics, streamlined operations, high security standards, and a customer-centric approach to lending. It helps banks improve efficiency, scale with growth demands, and compete more effectively in the financial services market.

When did ChoiceOne Bank (COFS) start developing Metriciti?

ChoiceOne Bank (COFS) began developing Metriciti internally about four years ago, during the Covid-19 pandemic and while undergoing two bank acquisitions. The platform has since played an integral role in driving ChoiceOne's loan growth.

What market response has Metriciti received so far?

According to the press release, Metriciti has received strong market interest, exceeding the partners' expectations. DPT Solutions and ChoiceOne are building a significant pipeline of financial institutions in various stages of the buying cycle.