Lending platform provider Vine Financial announced partnerships with a pair of financial institutions: HSLC of Ohio and Triad Bank of Oklahoma.
Both institutions will deploy Vine’s platform to manage the entire commercial loan lifecycle, including document reading, financial spreading, and document generation.
Austin, Texas-based Vine made its Finovate debut at FinovateFall 2024 in New York.
AI-powered lending platform Vine Financial has announced a new partnership with HSLC, a $227 million community bank serving customers in Ohio and Kentucky. The institution will leverage Vine’s technology to eliminate manual document processing in its commercial lending, equipment financing, and agricultural lending portfolios. Integrating Vine’s lending platform will enable HSLC to boost accuracy and reduce commercial loan processing time from days to hours.
“HSLC has a true dedication to their community and especially the businesses they serve,” Vine CEO and Co-Founder David Eads said. “A big part of our mission is freeing community bankers up to do what they do best: build relationships with their customers. Chris and his team are a great example of that, and we are proud to support the banks making a difference in their local economies.”
The partnership will give HSLC a single, unified system that covers the entire commercial loan lifecycle. Vine’s platform automates document reading, financial spreading, and document generation, replacing the costly and time-consuming manual processes that continue to plague commercial lending. Vine’s technology will provide HSLC not only with greater efficiency, but also with greater accuracy, as well. The company notes that institutions using its technology have seen accuracy improvements of up to 30%.
Headquartered in Kenton, Ohio, HSLC recently opened doors on new branches in Lexington, Kentucky, where the institution does the lion’s share of its lending to businesses. Founded in 1888, HSLC’s full name is The Home Savings and Loan Company of Kenton, Ohio, and is a mutual financial institution that is owned by its customers.
“When I first heard about Vine, I knew we had an opportunity ahead of us. If there was something out there that could truly cut our loan processing time down from days to just hours, we needed that,” HSLC President, CEO, and Director Chris Jones said. “Anything that streamlines our work and makes us more efficient is a win for us and for our borrowers. We’ve had a great implementation with Vine and look forward to working with them.”
Founded in 2019, Vine Financial is headquartered in Austin, Texas. The company made its Finovate debut last year at FinovateFall in New York, demonstrating its comprehensive Loan Lifecycle platform that uses AI to provide document import, financial analysis, and document generation. Vine Financial notes that its technology enables credit teams to work 5x faster and with 30% greater accuracy.
Vine’s partnership news with HSLC comes just a month after the fintech reported that Oklahoma-based Triad Bank had begun using its commercial lending technology to streamline its lending workflows. Founded in 1983, Triad Bank has $224 million in assets and a pair of branches in south Tulsa, including the institution’s headquarters.
“Vine offers a highly customizable loan analysis platform, allowing us the ability to tailor data inputs, risk metrics, and report outputs to fit our specific underwriting framework and portfolio review strategy,” Triad Bank, Tulsa, SVP Melissa Patocka said. “As a community bank with a credit policy different from a larger institution, Vine was able to adapt to our workflow, making it easy to align the platform with our specific underwriting and analysis needs.”
Photo by Jeremy Doddridge on Unsplash
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