Washington Trust Bank (WTB) has expanded its partnership with financial technology company Baker Hill to streamline its loan origination and portfolio risk management.

Following the agreement, Washington Trust Bank will migrate to Baker Hill NextGen solution.

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The migration is expected to give the lender gain improved user interface that will adjust to the emerging needs of customers.

It will also enable clients to access all functions and data through a single platform.

Washington Trust Bank president and COO Jack Heath said: “We’ve been more than satisfied by our existing relationship with Baker Hill over the years.

“Being our trusted solution provider made choosing Baker Hill NextGen an easy decision and we look forward to continuing to grow with them in the future.”

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The earlier partnership enabled Washington Trust Bank to decrease the number of systems that were needed for their relationship managers to work with commercial and portfolio risk management.

Baker Hill president and CEO John Deignan said: “We are thrilled to expand our partnership with Washington Trust Bank into the logical next phase of collaboration.

“We’re looking forward to this evolution of the relationship with the expanded capabilities and software needed to support their requirements with Baker Hill NextGen.”

Founded in 1902, WTB employs over 1000 people and has 40 branches and offices in Washington, Idaho and Oregon with $7.2bn in assets.

The bank offers online loan application and consumer loan origination solutions to its clients.