BankStride vs. Phorest

BankStride has saved us a tremendous amount of time and has been a key driver of growth and productivity within our company. The platform makes it easy for borrowers to submit documents, so the number of loan exceptions across our portfolio has decreased substantially. As a result, we can quickly identify pockets of risk within our loan portfolio and take appropriate steps to address areas of concern. It also makes regulatory audits and reporting much easier

It's well suited if you own a salon and are looking for a software to manage all of your needs - stock/inventory, staff schedules, client bookings and rebookings. It's more salon focused than clinic focused (e.g. if you have a wellness center it's not ideal for consent forms for example). Changing staff price offering is a bit time consuming.

• automates document collection
• automates loan monitoring
• automates risk reporting
• loan portfolio management
• construction loan monitoring
• loan draw management
• loan processing
• secure document collection
• loan exceptions management
• vendor management
• OCC compliance
• Regulatory reporting
• regulatory compliance

• Appointment scheduling
• SMS Reminders
• Rebooking SMS
• Support
• Managing Clients

• Wish it was free

• Better UI/UX - more intuitive to use
• Better customer service support
• Would prefer more hand holding during onboarding experience

nCino does not offer the automation features that BankStride does, which is why we went with BankStride. nCino is much more expensive (and requires Salesforce) and seems to lag a bit. It's a heavy lift for banks to implement, whereas BankStride can be implemented immediately. I believe BankStride can integrate with nCino which could be helpful, but in my opinion, BankStride is a stand alone product.

Phorest is a more modern software, although it can still be more intuitive to use its much better than other options out there. I feel it works great for someone who has been using salon software for many years and wants to upgrade to something more modern, or for someone who is switching over from pen and paper to manage their appointments

• $17,400 saved per user per year on average
• Approximately 290 hours saved per user per year

• More organization
• Helped with business processes