MCKINNEY, Texas, Jan. 7, 2020 /PRNewswire/ -- BankPoint, a leading provider of enterprise banking software, announces the production release of the BankPoint Loan Review system at CenterState Bank.
BankPoint is pleased to announce that CenterState Bank, a $17B bank in Winter Haven, Florida, has adopted the BankPoint Loan Review system for use in its production loan review process. The system was chosen in 2019 after an exhaustive survey of leading loan review systems. "We looked at other systems but couldn't find a solution that fit our process," said Tom Sheffield, SVP – Loan Review Manager at CenterState Bank. "The BankPoint system fit most of our process out of the box and was flexible enough to adapt in other areas," said Sheffield.
"Our loan portfolio has grown from $8B to $12B in the last year, and as a result our loan review volume has grown dramatically. We were using a manual process before adopting BankPoint – I can't imagine how we would be keeping up without the BankPoint Loan Review system," said Sheffield.
Tom Heruska, the CEO of BankPoint, said the BankPoint Loan Review system has been developed over the last 10 years by working closely with banks like CenterState to refine and enhance the system. "While every bank is different, most banks follow a similar process. The key is matching the bank's existing templates," said Heruska. "Most banks use a manual process involving Microsoft Word or Excel to draft each review. BankPoint integrates with the bank's core system and automatically populates the template, allowing the manual process to be automated while preserving the look and feel of the reviews," said Heruska.
"The BankPoint team has been great to work with, and was very responsive to our needs," said Kristen Castro, VP of Loan Review at CenterState. "We're happy to be up and running on the BankPoint system and feel confident we can handle the continued growth of the portfolio and associated reviews."
BankPoint provides fintech solutions for banks and non-bank lenders throughout the U.S, Europe, and Asia. The company is based in McKinney, Texas.