Announcement: Abrigo Acquires BankLabs Construct and +Pay

BankLabs is thrilled to announce that our Construct and +Pay technologies are joining the Abrigo suite of award-winning products. The acquisition realizes BankLabs’ vision of partnering with financial technology leaders to help community-oriented financial institutions succeed faster than BankLabs can deliver alone. The acquisition has created an end-to-end construction origination, management, and administration platform.

Meanwhile, BankLabs will focus on creating new products that accelerate banks’ capability to move money, credits, and payments while growing our patented Participate product as the digital balance sheet management tool of choice.

Click here to read the press announcement
 

Better Bankers.
Better Banks.

Creating Banking Products For The Future

For the banking industry, our digital and mobile products generate new fee income, attract deposits, and create loan volume. We strengthen community-oriented financial institutions with state-of-the-art technology that enhances in-market relationship banking. Efficiencies naturally result from cloud-based, mobile first approaches.

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Construct

Increase draw interest income, enhance the borrower experience, and mitigate risk in the construction lending process. This award-winning solution can put automated workflows, detailed reporting, and thorough audit trails in the palm of your hand and be more efficient in the process.

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+Pay

Generate additional fee income and reduce your risk; +Pay seamlessly integrates with Construct to automate the payment stream between builders and subcontractors, making it faster and easier to process transactions.

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Participate

Participate is a single platform to manage all loan participations, existing or new, bought or sold. It allows originators and participants to digitize and share loan documents, automate workflow, and create a network of trading partners.

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OREO

BankLab’s OREO is the world’s first mobile, cloud-based OREO platform that manages the complete lifecycle, allowing any user quick, convenient access to carrying costs, property details and overseeing the life of the property.

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Ready to be a better banker? Differentiate from your competition.

“Way easier than other banks – we are going to start moving more business to you.”

BuilderOklahoma

“It’s important for us to create convenience not only for our clients, but for their clients as well [such as subcontractors] and give them quicker and more convenient access to funds.”

Countryside Bank

“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.”

Lexie GarrisonChief Credit Officer at Valliance Bank

Innovation & Insight

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November 18, 2022

Diversifying Secondary Loan Participation

By diversifying their portfolio, banks are better positioned to protect themselves from the risk associated with concentrated industries. Syndication Syndication of secondary loan participation is a form of loan financing…
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What is a Loan Syndication?

Loan syndication is an alternative loan arrangement in which the lenders pool their loan portfolios into one large loan. These lenders share the risk and rewards of the loan. This…
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Broadly Syndicated Loans

Generally, broadly syndicated loans have more lenient covenants than other types of loans. For example, eighty percent of broadly syndicated loans are "saratoga" loans, which do not impose minimum annual…

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Looking for a partner to help you deploy the banking products for the future? We’re here to help. Contact us today to learn more about any of our products or to schedule a demo.