By 2019, Boston Private was well on their way to digitally transforming their commercial bank. With Salesforce and a LOS integrated and in place at the bank, there was just one piece that was missing – a pricing platform. Boston Private wanted a platform that would integrate with their current solutions while helping the bank build deeper, more profitable relationships. They chose PrecisionLender.
A Collaborative Experience
While PrecisionLender’s powerful, seamless integrations were attractive to Boston Private, it wasn’t the only thing that caught their eye.
“The overall product experience and the commitment to continuous improvement of the product and the company is what sold us,” says Nate Dube, Vice President, Director of Corporate Finance and FP&A at Boston Private, “PrecisionLender is constantly working on enhancements and reaching out to the community for suggestions on improvements and different use cases. The collaborative nature of the company was something we gravitated towards, and as the solution owner, is something I love.”
A Fast Start
Boston Private wanted to get their relationship managers up and running quickly on PrecisionLender, so time was of the essence. The PrecisionLender Integration team worked diligently in conjunction with the Salesforce Integration team and were able to get the two systems integrated in a short timeframe.
“PrecisionLender has ample data fields mapped and ready to pass to all its integration partners, and they are constantly adding more and more mappable fields,” says Dube.
A One-Stop Shop for RMs
Boston Private’s main goal in integrating Salesforce and PrecisionLender was to equip and empower their relationship managers with a seamless process. With the integration, relationship managers can go into Salesforce and enter opportunity level data, then convert that opportunity to PrecisionLender (where it’s then priced and structured), and then convert the desired pricing scenario to the LOS for underwriting and onboarding. What once would have required a great deal of manual entry – and increased the potential for errors - is now much more streamlined.
“The conversion happens through the click of a button and imports as much data as was entered into the PrecisionLender environment, reducing the need to enter the same information more than once,” says Dube.
Relationship managers have rapidly and enthusiastically adopted the new technology.
“Our relationship managers are excited about having a one-stop shop for CRM, pricing, and origination. They don’t have to log into multiple systems, or open up Excel-based tools and copy and paste,” says Dube, “They simply log into Salesforce, convert to PrecisionLender, and convert to the LOS, with no need to re-enter information that has already been entered.”
About Boston Private
Boston Private is leading provider of integrated wealth management, trust and banking services for individuals, families, businesses and nonprofits. For more than 30 years, Boston Private has delivered comprehensive advice coupled with deep technical expertise to help clients simplify their lives and achieve their goals. The firm offers the capabilities of a large institution with the superior service of a boutique, nationwide.
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