BankLabs is saw a need for innovation. There had to be a better way of doing things. They knew that spreadsheets were going to be a thing of the past. They also knew that with the help of some genius programmers, they could create innovative tools that propelled the banking world forward. Their goal is to help banks perform better for the communities they serve. Strengthening the in-market relationships for banks and communities has been a resonating mission throughout the BankLabs journey.
“Construction loans are typically seen as the largest risk to a bank's portfolio. Anything that makes these loans less risky is a huge benefit. Since implementing BankLabs' automation software, the bank has sped up the lending process and reduced errors. Previously, a draw from a loan involved multiple people cross-referencing spreadsheets and could take as long as three days. Now, we have completely eliminated the use of spreadsheets and the draw process has become virtually instantaneous. The time spent communicating with borrowers and builders has also been significantly reduced because they can both log on and see all of their respective loans in one spot. They can also be notified of inspections and request draws online rather than via phone or email.”
Read BankLabs Reviews, Testimonials & Customer References from 4 real BankLabs customers.
Browse BankLabs Case Studies, Customer Success Stories, & Customer References from 1 businesses that use BankLabs.