Baker Hill sees significant year-over-year revenue and profitability growth in 2022
CARMEL, Ind., Feb. 6, 2023 /PRNewswire/ — Baker Hill, a leading financial technology provider in delivering solutions for loan origination, risk management and analytics, achieved record growth in 2022, increasing annual revenues by 15 percent, Baker Hill NextGen® platform revenues by 30 percent, and profitability growth outpacing revenues increase.
Baker Hill’s tremendous growth is the result of the company’s rapidly expanding client base, which includes close to 50 net new financial institution clients added in the last 12 months, such as Flatirons Bank, Great Plains Bank and several other community banks and credit unions across the U.S.
This record growth demonstrates strong market demand among financial institutions for lending solutions that increase efficiencies, mitigate risk, support sound decision-making and more to optimize portfolio performance and profitability. Additionally, Baker Hill has expanded relationships with several existing clients, migrating 17 fin ancial institutions to the company’s flagship product, Baker Hill NextGen®, an award-winning, end-to-end loan origination, risk management and analytics platform.
Virginia-based TowneBank is one of the many Baker Hill clients that upgraded to the full NextGen® suite last year. A long-standing Baker Hill client, TowneBank’s decision to transition to Baker Hill NextGen® was driven by its commitment to investing in the most effective financial technology systems available.
“After working with Baker Hill for nearly two decades, we chose to take our partnership to the next level by transitioning to the full Baker Hill NextGen® Loan Origination platform. Our team will use it for consumer, small business and commercial loans,” said Brad Schwartz, President & Chief Operating Officer at TowneBank. “Given our history of working with Baker Hill and the value their technology consistently delivers, we look forward to our continued partnership together.”
“Last year was a record year for Baker Hill and the milestones we achieved are a testament to the value our team and technology provides to the financial services industry,” said John M. Deignan, president and CEO of Baker Hill. “I’m proud of my fellow colleagues for the positive impact they have made, both within our company and for our financial institution clients, despite ongoing economic uncertainties. As we head into 2023, I expect this momentum to continue, especially as more financial institutions seek to drive efficiencies in their lending workflows and manage portfolio risk in a rising rate environment.”
Baker Hill anticipates another year of strong growth in 2023 and the company remains dedicated to empowering its financial institution clients with world-class loan origination and portfolio risk management technology. After achieving numerous milestones last year and growing its client roster, Baker Hill also expects to host its largest user conference yet, Prosper 2023, which will take place April 23rd – 25th in Scottsdale, Arizona.
To register for Prosper 2023, and to view the agenda and speakers, visit the event website.
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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