BankStride vs. Velmie

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

We began using Velmie in 2016, and have had a good experience with them. They are technically competent, and have done consistent work. As mentioned earlier, communication has become more difficult as of late. That said, our relationship continues, and as the review reflects, we are generally satisfied

• 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

• They have experience with social media APIs
• Initially, they were responsive
• The system did function, reasonably well for the initial few years.

• Wish it was free

• As they've grown, a little more complicated to communicate.

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.

At the time we selected them as a vendor, we believed they were our best solution. They continue to support and maintain the system

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

• Initially they helped us support our users.
• When we have hit bumps, we have been able to work through them, an important quality.