Oakworth Capital Bank Partners with Baker Hill to Optimize Commercial & Consumer Loan Growth

Rhea-AI Summary

Alabama-based Oakworth Capital Bank has chosen to implement Baker Hill NextGen® for commercial and private client lending. The unified solution will streamline loan origination and portfolio monitoring, enhancing the borrowing experience and increasing efficiencies for clients. Oakworth Capital Bank plans to integrate TruStage with Baker Hill NextGen® to automate loan document preparation and ensure compliance with regulations.

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• Oakworth Capital Bank has chosen to implement Baker Hill NextGen® for commercial and private client lending, which will streamline the loan origination process and increase efficiencies. The bank will also integrate TruStage with Baker Hill NextGen® to automate loan document preparation and ensure compliance with regulations.

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Alabama-based Oakworth Capital Bank selects Baker Hill NextGen® for commercial and consumer lending

CARMEL, Ind., Sept. 5, 2023 /PRNewswire/ -- Baker Hill, the leading financial technology provider in delivering solutions for loan origination, risk management, and analytics, today announced Oakworth Capital Bank as its newest client. The bank has chosen to implement Baker Hill NextGen^®, a unified solution that streamlines loan origination and portfolio monitoring, for commercial and private client lending.

Founded in 2008 in Birmingham, Ala., Oakworth Capital Bank provides commercial and private banking, wealth management and advisory services for clients across the U.S. Celebrating 15 years of service, the bank has remained committed to providing personalized service and cultivating strong, lasting relationships with its clients. Given Oakworth Capital Bank's emphasis on exception client service, the institution has chosen to implement Baker Hill NextGen^® for commercial and private client lending.

By partnering with Baker Hill, Oakworth Capital Bank will enhance the borrowing experience for its clients, increase efficiencies and streamline the entire loan origination process through a single, integrated platform. With Baker Hill NextGen^® for commercial loans, the bank will be able to optimize responsiveness to clients, foster strong commercial relationships, manage referrals and more. Additionally, Oakworth Capital Bank will leverage Baker Hill NextGen^® for private client lending, which automates the entire consumer loan origination process. Both solutions are fully integrated and will allow the bank to spend less time on manual tasks and more time serving clients.

The bank will also deploy the Baker Hill NextGen^® Client Portal, which will allow clients to submit loan documents online and track the status of their loan to closing, providing greater transparency and more open communication throughout the origination process. Oakworth Capital Bank plans to integrate TruStage, formally known as Compliance Systems, with Baker Hill NextGen^® to automate loan document preparation and ensure compliance with all federal and state-specific regulations.

"Our bank's mission is focused on delivering a personalized experience for our clients, which often means challenging the status quo and reimagining how financial services are delivered," said Scott B. Reed, chairman and CEO of Oakworth Capital Bank. "The team is always looking for new, better ways to help our clients achieve their financial aspirations and Baker Hill NextGen^® will help us continue to do that. We look forward to partnering with Baker Hill, as their loan origination tools will allow us to spend more time cultivating relationships with our valued clients – which is what we believe matters most."

"Baker Hill is built upon decades of working directly with financial institutions as they provide meaningful resources and support to their clients and communities, and our products are a clear reflection of this history," said John M. Deignan, president and CEO of Baker Hill. "With Baker Hill NextGen^®, Oakworth Capital Bank can optimize their entire loan origination process and continue surpassing their clients' expectations with a world-class borrowing experience. We look forward to helping this reputable bank and their clients prosper with Baker Hill NextGen^®."

About Oakworth Capital Bank
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (OTCQX: OAKC). Oakworth was founded in 2008 and operates three branches in the Southeast, including its headquarters in Birmingham, Alabama, and is opening a fourth branch in September, 2023. Oakworth provides commercial and private banking, wealth management and advisory services to clients across the United States.

Oakworth has been named the #1 "Best Bank to Work For" for the past five years in a row (2018-2022) by American Banker. Additionally, Oakworth has earned a Net Promoter Score (NPS) of 96 out of 100 (June 2022 to June 2023) and has a client retention rate of 95% in 2022. As of June 30, 2023, Oakworth had $1.4 billion in total assets, $1.1 billion in gross loans, $1.2 billion in deposits and $2.0 billion in wealth and trust assets under management. For more information, visit www.oakworth.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

FAQ

What solution has Oakworth Capital Bank chosen to implement for lending?

Oakworth Capital Bank has chosen to implement Baker Hill NextGen® for commercial and private client lending.

What will Baker Hill NextGen® do for Oakworth Capital Bank?

Baker Hill NextGen® will streamline the loan origination process and increase efficiencies for Oakworth Capital Bank.

What will Oakworth Capital Bank integrate with Baker Hill NextGen®?

Oakworth Capital Bank plans to integrate TruStage with Baker Hill NextGen® to automate loan document preparation and ensure compliance with regulations.