TowneBank Expands, Enhances Collaboration with Baker Hill NextGen®

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Jul 25, 2022, 12:00 ET

Towne Bank has selected Baker Hill NextGen® as its vendor of choice for a holistic, integrated SaaS solution to power it's lending and portfolio business operations

CARMEL, Ind., July 25, 2022 /PRNewswire/ -- Baker Hill, the leading financial technology provider in delivering integrated technology solutions for loan origination, risk management, and analytics, today announced a revitalized collaboration with TowneBank. The community-minded bank will implement Baker Hill NextGen®, Baker Hill's unified solution that streamlines loan origination and portfolio monitoring.

Founded in 1999, TowneBank is community-oriented financial institution focused delivering the ultimate in customer service that currently has more than 40 banking offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina. As part of its core commitment to its customers and employees, TowneBank is dedicating to providing quality, upscale banking facilities that house the most efficient technology available. By adapting from Baker Hill's legacy product to Baker Hill NextGen®, TowneBank will continue to develop modern lending proficiencies while streamlining banking operations into the single-solution platform.

"After looking at our options in the marketplace, we selected Baker Hill NextGen® Loan Origination product suite," said Brad Schwartz, President & Chief Operating Officer at TowneBank. "Baker Hill met our requirements for a timely implementation schedule for consumer, small business, and commercial loans along with all the credit and integration components. In the end, we chose Baker Hill to improve our speed to commitment, speed to closing, and ease of use for our bankers and members."

An almost 20-year client of Baker Hill, TowneBank's decision to transition to Baker Hill NextGen® was driven by its commitment to investing in the most effective and enhanced financial technology systems available. Baker Hill's ability to provide a full advisory services team to provide expert guidance, training, and insights as well as the ease of use of a single, unified solution made Baker Hill the standout choice when it came to TowneBank continuing to partner with Baker Hill.

"We are thrilled to continue expanding our partnership with TowneBank," said John M. Deignan, president and chief executive officer of Baker Hill. "As the industry moves into the next phase of banking with an increased focused on digital offerings, transforming the way our long-term colleagues serve their customers brings pride to our entire team."

With over 35 years of industry expertise, Baker Hill is providing state of the art lending and risk management solutions with unparalleled advisory support for community banks and financial institutions.

For more information on Baker Hill NextGen® visit www.bakerhill.com.

About Baker Hill

Baker Hill is the expert solution for loan origination, portfolio management, and analytics for financial institutions in the United States. The company delivers a single, unified platform with modern solutions to streamline loan origination and portfolio risk management for commercial, small business and consumer lending. The Baker Hill NextGen® platform also delivers sophisticated analytics and marketing solutions that support sound business decisions to mitigate risk, generate growth and maximize profitability.

Media Contact:
Haley Williams
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317.814.1254

About TowneBank

Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, Towne values all employees and members by embracing their diverse talents, perspectives, and experiences.

Today, the bank operates over 40 banking offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina – serving as a local leader in promoting the social, cultural, and economic growth in each community. Towne offers a competitive array of business and personal banking solutions, delivered with only the highest ethical standards. Experienced local bankers providing a higher level of expertise and personal attention with local decision-making are key to the TowneBank strategy. Towne has grown its capabilities beyond banking to provide expertise through its controlled divisions and subsidiaries that include Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. With total assets of $16.67 billion as of March 31, 2022, TowneBank is one of the largest banks headquartered in Virginia.

SOURCE Baker Hill