Navigant Credit Union to leverage Baker Hill NextGen® for Commercial Lending for a more efficient loan origination and underwriting process
CARMEL, Ind. – Oct. 15, 2024 – Baker Hill, a leading financial technology provider in delivering solutions for loan origination, risk management, and analytics, has partnered with Navigant Credit Union. The Rhode Island-based credit union selected Baker Hill NextGen® for Commercial Lending, the company’s flagship product, which is designed to drive efficiencies in the commercial loan origination and decisioning process.
With more than $3.7 billion in assets, more than 154,000 members and 26 physical branch locations, Navigant Credit Union is the largest credit union in Rhode Island and among the state’s strongest and most trusted financial institutions. As the longest-operating, member-owned credit union in Rhode Island, Navigant has maintained strong member relationships since it was founded in 1915. Given its strong community ties and its growth trajectory that spans more than a century, Navigant sought a way to streamline its commercial lending operations under one system, which led the credit union to partner with Baker Hill.
By implementing Baker Hill NextGen® for Commercial Lending, Navigant Credit Union is able to address all of its commercial loan origination needs in a single integrated platform, eliminating the use of multiple, fragmented systems that often required team members to rekey existing data, track down documents and more. Baker Hill NextGen® also integrates directly with Navigant’s Fiserv DNA core, which allows the credit union to leverage data in multiple instances, instead of being burdened with redundant data entry.
With a centralized system like Baker Hill NextGen®, Navigant Credit Union can simplify commercial loan origination from application to approval, empowering their team to process loans more efficiently and with greater consistency. Additionally, the credit union anticipates a better borrower experience, as a more efficient origination and underwriting process will drive faster response times for loan decisions.
“The team at Navigant is proud of our rich history of serving member businesses throughout Rhode Island and we are committed to the financial well-being of the communities we serve. As part of that mission, it’s important that we deliver a lending experience that is fast, convenient and transparent for everyone involved,” said David DeCubellis, SVP and Chief Lending Officer of Navigant Credit Union. “We believe that partnering with Baker Hill and utilizing their proven loan origination system will not only improve our operational efficiencies as a team, but also provide our member businesses with an exceptional borrowing experience.”
“Navigant Credit Union plays a pivotal role in supporting the economic growth in communities across Rhode Island and we take pride in partnering with such a reputable institution. We look forward to empowering their team members with a more automated and streamlined loan origination process that in turn results in a better experience for the member businesses they serve. Local business are vital to a growing economy and we take pride in helping community institutions like Navigant Credit Union foster deeper, more productive relationships with those businesses. We anticipate a successful partnership together,” said Andy Ivankovich, CEO of Baker Hill.
About Navigant Credit Union
Navigant Credit Union is a member-focused financial institution headquartered in Smithfield, Rhode Island. With a commitment to delivering exceptional financial services and personalized solutions, Navigant Credit Union serves its members with a range of products and services, including banking, lending, and investment solutions.
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.