First Tennessee Bank

LOAN ORIGINATION SYSTEM CLIENT SUCCESS STORY

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Memphis-based First Tennessee Bank, with more than $40 billion in assets, has deployed Baker Hill’s small business loan origination system and customized branch online loan application software to drive efficiencies in the lending process and improve the customer experience with faster decisions and faster closings.

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1

The Challenge

First Tennessee Bank is a full-service financial institution with more than $40 billion in assets, offering a variety of consumer and business banking services, including credit and loan products, investment planning and cash management services. The bank has served the Memphis
area since 1864 and has established a strong client base and a commitment to financial integrity. 

The bank’s longstanding success has led to a surge in growth over the last several years, culminating with last year’s acquisition of Capital Bank. This major expansion led the bank to seek out a new small business loan origination solution, as the bank had outgrown the capabilities of its previous system. First Tennessee assessed Capital Bank’s success with Baker Hill’s small business loan origination.

To further streamline the small business loan origination process, First Tennessee needed to ensure more complete loan applications are submitted and also sought a better way to facilitate the sharing of applicant information with underwriting. By addressing these needs, the bank would be able to boost its loan origination efficiencies and enhance the customer experience with expedited decisioning. 

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The Solution: Baker Hill Small Business Loan Origination System & Customized Branch Loan Application Software

By leveraging Baker Hill’s loan origination solution, First Tennessee Bank will be able to infuse their process for originating small business loans with greater speed and consistency, maximizing productivity and improving the overall customer experience. This unified system will eliminate manual processes, empowering bank employees to manage business credit requests efficiently and effectively. In fact, the solution will automate the origination process from end-to-end, including underwriting and the onboarding of loans into the bank’s core system. Because the solution is web-based, Baker Hill small business loan origination gives the bank an improved, highly-secure way to connect and facilitate communication across its branch network. This will allow First Tennessee to process loan applications and generate reports anywhere an Internet connection is available.

With Baker Hill’s customized branch online loan application software, bank employees can more efficiently gather applicant information and easily share information from the field to improve transparency across the origination process. This will also help expedite loan decisioning. To illustrate, a First Tennessee Bank employee who is helping a prospective customer can quickly access the customized web form and submit an application for decisioning, minimizing data re-entry to save time for both the bank and the customer.

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3

The Results

First Tennessee Bank anticipates a multitude of benefits from implementing Baker Hill’s small business loan origination system and customized branch online loan application software. As First Tennessee continues to grow, Baker Hill’s loan origination solution will be able to scale with the bank’s expanding loan portfolio, maximizing efficiencies in the lending cycle and supporting sustainable, profitable loan growth.

Additionally, First Tennessee Bank’s use of Baker Hill’s online loan origination system will enhance the overall customer experience for delivering small business credit. The software will help the bank’s employees gather applicant information in a consistent and efficient manner, improving transparency and facilitating faster decisioning of loans. 

First Tennessee Bank values Baker Hill’s steadfast commitment to optimizing its small business lending operations. As a result, the bank also plans to leverage additional technologies from Baker Hill, which will help the bank maximize the value of its new loan origination system and quickly adapt according to changes in the market and evolving customer demands.

Selecting a loan origination system is one of the most important decisions your financial institution will make.

Learn how to Choose the Right Loan Origination System

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“By working with Baker Hill, we expect to improve the overall customer experience for delivering small business credit. Our team evaluated numerous loan origination systems and believes Baker Hill’s solution will best help us streamline our lending processes and ultimately, support the bank’s continued growth.”

—Darin Johnson
SVP, Director of Commercial Credit Loan Administration | First Tennessee Bank

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