SPARTA,
Mich. and GRAND RAPIDS,
Mich., July 17, 2024 /PRNewswire/ -- ChoiceOne
Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS)
("ChoiceOne") along with DPT Solutions (DPT) are pleased to
announce their partnership to offer Metriciti. Metriciti is a
revolutionary commercial lending platform that promises to redefine
how financial institutions manage their lending from leads to loans
and beyond. DPT is the exclusive reseller of Metriciti and is now
available to community banks nationwide.
ChoiceOne Bank has partnered with DPT
Solutions to offer Metriciti, a revolutionary commercial lending
platform.
"In an industry where innovation often feels out of reach for
smaller players, ChoiceOne took an ambitious leap and transformed a
challenge into a groundbreaking opportunity," said ChoiceOne CEO
Kelly Potes. "Faced with the
limitations of existing commercial lending platforms for community
banks, while in the midst of Covid-19 and two bank acquisitions,
ChoiceOne developed our own solution. Building Metriciti was a
strategic move we made that has already reshaped our future. Now we
are pleased to offer the opportunity for other community banks to
explore Metriciti through our exclusive reseller, DPT
Solutions."
Metritciti is a customer-centric approach to lending with
advanced data analytics, streamlined operations and the highest
standards of data security and compliance. Developed internally
over the past four years, Metriciti has played an integral role in
driving ChoiceOne's loan growth. What started as an ambitious idea
has now led to an opportunity to share Metriciti with other
financial institutions seeking enhanced efficiency and technology
that can scale with growth demands.
"We are pleased to partner with ChoiceOne and work with other
financial institutions," said DPT Solutions Chief Executive Officer
Dan McGraw. "Early last year, we had
another bank contact us to look at Metriciti as they were
investigating a similar path. These discussions led ChoiceOne to
travel down a path they had only faintly envisioned – selling
Metriciti to other financial institutions. As a result, ChoiceOne
and DPT began 're-building' Metriciti into a new structure that
would allow for other institutions to purchase the platform and
benefit from the product that ChoiceOne and DPT created. ChoiceOne
spun the intellectual property into a new entity and enlisted DPT
to be the exclusive reseller, handling all sales, implementation
and support."
Today, through DPT, the partners are offering Metriciti to the
marketplace. The early interest has exceeded the partners'
expectations, and they are building a significant pipeline of
financial institutions in varying stages of their buying cycle.
"DPT is known for building human-centered solutions," said
McGraw. "As the exclusive reseller of Metriciti, our team will work
exclusively with financial institutions to ensure their lead to
loan process is executed within the Metriciti ecosystem. We will
also provide ongoing support. Our vision is to usher in a new era
of financial services. We believe that financial institutions, like
many other industries, not only need to keep pace with change but
lead it."
"The demand in the marketplace is strong for a new commercial
lending platform that doesn't conform to the traditional mold,"
said ChoiceOne Vice President, Lending Technology Josh Hucul and
the lead on the Metriciti project from the beginning. "Banks are
realizing that disparate systems and manual processes don't add the
value that is needed to be successful today. These banks are also
realizing that the user experience is critical for both customers
and internal users, something most platforms fail to deliver."
ChoiceOne President Michael J. Burke,
Jr. commented, "Community banks are vital to local
businesses and economies. Often, we are underserved in the
technology platforms that are best suited for how we operate as a
bank. Ultimately there was a gap that ChoiceOne identified in our
commercial loan origination platform, and we decided to fulfill our
own needs. Metriciti is critical for our long-term success with
data becoming more important, clients relationships becoming more
competitive, and labor being more difficult to attract and retain.
Now Metriciti can be a game changer for other likeminded community
banks."
For additional information visit metriciti.com/
About DPT Solutions
With over 20 years in
business, DPT Solutions is owned and operated in West Michigan. DPT employs a team of
visionaries, business strategists and technology innovators who
have held senior leadership positions across various industries and
business sizes. DPT's combined business strategy team has over 100
years of experience working in senior leadership positions. Because
of this experience, DPT doesn't only talk strategy, they understand
the challenges and have the knowledge and network to solve them.
Leading with "why" is what makes DPT different. For more
information, please visit https://dptsolutions.com/.
About ChoiceOne
ChoiceOne Financial Services, Inc. is
a financial holding company headquartered in Sparta, Michigan, and the parent corporation
of ChoiceOne Bank. Member FDIC. ChoiceOne Bank operates 35 offices
in parts of Kent, Ottawa, Muskegon, Newaygo, Lapeer, St.
Clair, Macomb, and
Oakland counties. ChoiceOne is an
approximately $2.7 billion-asset bank
holding company making it the eighth largest bank holding company
in Michigan based on asset size.
ChoiceOne Bank offers insurance and investment products through its
subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial
Services, Inc. common stock is quoted on the Nasdaq Capital Market
under the symbol "COFS." For more information, please visit
Investor Relations at ChoiceOne's website choiceone.bank.
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SOURCE ChoiceOne Bank