21 PUB. 12 2022 ISSUE 2 To learn more about BHG contact Keith Gruebele, EVP, Institutional Relationships, at 954.737.5318 or kgruebele@bhgbanks.com. Or visit our website at bhgloanhub.com/keith. As regulations continue to evolve, banks must continue to prioritize regulatory risk management and compliance. secure customer onboarding. Further, with regulation expected to increase, BHG Financial placed a high level of importance on compliance by leveraging an internal team of industry experts to ensure the company was meeting regulatory requirements. These in-house tools helped BHG Financial nearly double in size since the start of the pandemic, and banks can take advantage of these same proven resources to grow into this new digital age – without having to invest crucial time and millions of dollars. Lend outside your lobby with BHG Connect’s digital lending platform Consumer reports make it clear that people would prefer to manage their finances online. The good news is – with a simple integration – your bank can be a leader in digital transformation. BHG Connect, a suite of lending-as-aservice products, provides an end-to-end digital lending platform co-branded for your bank, allowing you to offer online loans to your customers. According to a BHG Financial analysis, the average community bank has approximately $150 million in untapped consumer loan opportunities within their existing customer base. By providing your customers with the ability to apply for loans quickly and easily online, you can impact your bottom line and build loyalty with your clients. Many customers (87% of Gen Z, according to a Marqueta report) prefer to maintain business with traditional financial institutions over fintechs. By providing a frictionless online experience, you can strengthen your relationships with these customers while still giving them the exceptional customer experience that community banks provide. Keep your bank secure with cutting-edge AI from Vouched Although community banks tend to know their clients well, in this age of digital fraud, it’s never been more important to know your customer. Working with a proven industry partner like Vouched can enhance your fraud prevention and improve KYC/CIP (Know Your Customer/Customer Identification Procedures) requirements to keep your institution safe. Vouched combines cutting-edge AI that visually examines a customer’s identity with a multi-factor risk analysis, allowing your bank to onboard users anytime, anywhere, securely, and instantly. To date, this KYC solution has helped open over one million bank accounts and has been used to fund over $8 billion in loan transactions. Now your community bank can follow your customers across state lines, open accounts for their college-aged kids, and compliantly and safely identify them without ever needing to meet. As a member of the BHG Bank Network, your financial institution can access this tool at a preferred pricing structure. Stay ahead of regulatory shifts with Risk Management Solutions Group (RMSG) As regulations continue to evolve, banks must continue to prioritize regulatory risk management and compliance. Today, these areas are top concerns for executives across the banking industry. BHG Financial has always maintained a very stringent compliance program. They regularly undergo examinations by the FDIC and Tennessee State Banking Commission, making it a priority to ensure that all technology platforms, processes, and procedures are held to the highest standards possible. Their top-tier regulatory team has over 500 years of combined experience, allowing them to effectively assist our banks with all federal and state regulatory agencies. Partnering with BHG Financial allows your bank to access their expertise with zero obligation to execute a work order. Banks can complete a client agreement and have RMSG on deck when situations and questions arise. Further, in the event that work is needed, RMSG can provide you with a quick and free estimate. It’s your turn to experience the BHG Financial advantage The AzBA couldn’t be more appreciative of the partnership BHG Financial has developed with us and our banks across the state. Their technology solutions are tailored to the challenges of the community banks. As our industry continues to evolve, finding a partner like BHG Financial that can provide cost-effective and efficient products and services that support banks’ needs is more important than ever. w
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