What is BLAST®?
The BLAST® software platform is BAFS’ proprietary, cloud-based lending operating system designed specifically to empower our partner financial institutions through improved efficiency, compliance, and customer relationship management; fueling growth and driving profitability. BAFS developed BLAST® to guide the path of a loan from application and analysis, through underwriting, document preparation, and credit administration.
When was BLAST® created?
BLAST® was created in 2014 and was initially launched to support client loan servicing. Platform capabilities have since been expanded, and clients can now use BLAST® directly. The expansion of BLAST® officially came to market in June of 2023. This expansion allows BAFS clients to choose between BAFS’ software, services, or a combination of both.
What are the features of BLAST®?
- Financial spreads modeling with OCR efficiency
- Credit memo modeling
- User dashboards
- Entity management
- Full LOS workflow
- Document administration
- Tickler and exception management
- Collateral and asset management
- Reporting and analytics output
- Loan review workflow
What makes BLAST® different from other commercial lending software?
What makes BLAST® different is our level of customization. Typically, with other commercial lending software, you get onboarded and that’s the extent of support you receive. You now have to learn the software or hire a team to manage it for you.
With BAFS, we have the technology and the people so that you can scale your experience as much as you need. Whether you just need our software, our services, or a combination of both, you have the choice to decide. You drive or we drive with you – it’s as simple as that.
What packages does BAFS offer?
The Essential Package: If you have a commercial lending team in place but need technology, the Essential Package is for you. This package empowers your financial institution with our proprietary, cloud-based lending software, BLAST, to fuel your growth and boost profitability.
The Assurance Package: If you have back-office support, but not for every function, the Assurance Package is what you’re looking for. This package supports your team with cutting-edge lending technology alongside the guidance of BAFS’ experienced administrative experts.
The Alliance Package: The Alliance Package gives financial institutions the commercial lending technology and services they need to build and maintain a personalized Business Services Department.