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Community banks play a vital role in supporting local businesses and communities, providing small and medium-sized businesses with access to much-needed capital. However, in today's fast-paced digital economy, traditional commercial loan management processes may not be enough to keep up with the competition. This is where modern digital commercial loan management platforms, such as BankStride, come in.

Why Community Banks Need a Modern Digital Commercial Loan Management Platform

With the rise of digital technologies and new fintech players, customers have come to expect more convenient and streamlined banking experiences. For community banks to stay competitive, they need to adopt modern digital commercial loan management platforms that offer fast, efficient, and user-friendly loan processing and servicing.

In addition, community banks must also meet increasingly complex regulatory requirements, making it essential to have a reliable platform that can help them manage risk and ensure compliance.

Overall, community banks need a modern digital commercial loan management platform to keep up with the competition, meet customer expectations, and stay compliant with regulatory requirements.

How BankStride Helps Community Banks

BankStride is a powerful loan lifecycle management platform designed specifically for community banks. The platform offers a range of features and benefits that help lenders streamline loan origination, processing, servicing, and monitoring.

Here are some of the key benefits of using BankStride:

1. Streamlined Commercial Loan Processing

BankStride allows lenders to streamline their commercial loan processing by automating workflows, reducing manual processes, and providing a centralized platform for managing all loan applications.

2. Improved Loan Monitoring and exceptions

With BankStride, lenders can monitor loan performance in real-time, identify and resolve exceptions quickly, and ensure proper documentation management. This helps lenders reduce risk, improve compliance, and increase profitability.

3. Proactive Risk Management

BankStride offers advanced analytics and stress testing functionality that helps lenders proactively manage risk, identify potential issues, and take corrective action before problems arise.

4. Enhanced Customer Experience

BankStride provides a user-friendly interface and online portal that enables customers to apply for loans, track their applications, and receive notifications in real-time. This enhances the overall customer experience, making it more convenient and streamlined.

Overall, BankStride is a powerful digital commercial loan management platform that helps community banks stay competitive, meet regulatory requirements, and provide their customers with a seamless and efficient loan processing experience.

In conclusion, if you are a community bank looking to improve your loan origination, processing, servicing, and monitoring capabilities, BankStride is the ultimate solution. With its advanced features and intuitive interface, BankStride helps lenders save time, reduce costs, increase revenue, and improve customer satisfaction, making it an essential tool for any community bank looking to succeed in today's digital economy.

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Construction loans are a vital part of many bank's lending portfolios. However, they can also be complex and risky to manage. Construction loan management requires efficient draw management, document collection, inspection scheduling, and loan monitoring. At BankStride, we understand these challenges and have developed a comprehensive digital banking platform that simplifies the construction loan management process.

Our platform offers an efficient and streamlined workflow for construction loan draw, document collection, inspection scheduling, and loan monitoring. With BankStride, banks can automate construction loan management and draw processes with a digital-friendly document management and approval process.

Our platform simplifies the construction loan draw process by providing automated notifications for borrowers to request draws, with accompanying documents, inspection schedules, and other required information. The platform enables banks to seamlessly track the progress of construction projects, manage draw requests, and ensure compliance with the loan agreement.

We understand the importance of document collection and inspection for construction loans. Our platform makes it easy for banks to collect, store, and access documents, reducing the time and effort required for document collection. Our platform is also equipped with tools for scheduling and tracking inspections, which ensures that construction projects are proceeding according to schedule.

Our platform automates the management of construction loan reporting, loan covenants, compliance certificates, and exceptions reports. Our loan monitoring tools track financial reporting, covenants, and certificates.

With BankStride, banks can improve efficiency and customer experience by allowing customers to securely and easily share documents in response to automated email and text notifications, without the need for an account setup or login. Our solution makes it easy to track construction loan reporting and documents, enabling you to identify pockets of risk and underperformance quickly.

BankStride's construction loan management platform is designed to provide banks with the tools they need to manage construction loans with ease, reducing risk and improving loan management. Our platform is user-friendly and intuitive, making it easy for commercial bankers, credit officers, and loan operations to monitor their loans, handle exceptions, and collect documents with ease. Whether you're a large financial institution or a small commercial bank, BankStride is the solution you need to streamline your construction loan management process and save time and money.

In conclusion, BankStride's digital banking platform is the digital banking solution that banks have been waiting for. With BankStride, construction loan management is simplified, providing a more efficient and streamlined process for banks. If you're a banker who offers construction loans, we encourage you to explore BankStride's digital banking platform to learn more about how we can help you streamline construction loan draw, document collection, inspection scheduling, and loan monitoring.

Thank you for your interest in BankStride, and we look forward to working with you soon.

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Challenges for community banks in 2023

Community banks face several challenges in 2023, including:

1. Competition from larger banks and fintechs: Community banks are facing increased competition from both large national banks and financial technology companies that offer digital services. 2. Regulatory burden: Community banks are subject to the same regulatory requirements as larger banks, which can be a significant challenge for smaller institutions with limited resources. 3. Attracting and retaining customers: Community banks need to find ways to attract and retain customers, especially younger generations who are more likely to use digital financial services. 4. Maintaining profitability: Community banks face pressure to maintain profitability in a competitive market, while also dealing with low interest rates and economic uncertainty. 5. Technology investment: Community banks need to invest in technology to remain competitive and meet changing customer expectations for digital services. 6. Cybersecurity: Community banks are vulnerable to cyberattacks, and need to invest in cybersecurity measures to protect customer data and maintain trust.

Opportunities for community banks in 2023

There are several opportunities for community banks in 2023, including:

  1. Personalized services: Community banks can differentiate themselves by offering personalized and local services that cater to the needs of their communities.

  2. Community engagement: Community banks have the opportunity to build strong relationships with their local communities by participating in community events and supporting local businesses.

  3. Digital transformation: Community banks can leverage technology to improve their services, increase efficiency, and attract new customers.

  4. Expansion into new markets: Community banks can expand their services into new geographic markets, either by opening new branches or through partnerships with fintechs.

  5. Small business lending: Community banks can focus on small business lending and support local entrepreneurs, which can help drive economic growth in their communities.

  6. Niche services: Community banks can specialize in niche services, such as agricultural lending or real estate lending, to differentiate themselves from larger institutions.

BankStride is the digital banking solution for loan exception tracking, secure document collection, loan covenants monitoring, loan portfolio management, pipeline management, credit risk reporting, and loan tickler tracking. By automating and streamlining loan exceptions and loan monitoring activities, Bankstride helps commercial banks save time and money, reduce portfolio risk, and close more loans.

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