Mitch: Well, welcome to a special episode of Lending Made Easy. We've just wrapped up our annual client conference, Prosper, where we celebrated Baker Hill's 40th anniversary as a company at none other than Disney World. But today I'm joined again by Bryan Peckinpaugh. And we've also got a special guest with us, Barry Burns, business systems and process manager from HomeBank.
Barry Thanks so much for joining us and welcome to the show.
Barry: Oh, it's my pleasure. Thank you for inviting me.
Mitch: Tell us a little bit about your role there at HomeBank.
Barry: My role as the business systems and process manager is really to take a look at all our processes within HomeBank and just see how we can improve those. Most of the time that's through technology, but not always. And in many cases, that's through Baker Hill technology.
Mitch: Great. Well, thanks. And like I said, this is a special episode. We're going to talk a little bit about Prosper and just wrapped up for 2024. I know you've been several times, but we're going to kind of start off with a big question here, just because I'm curious, what did you like this year? And what did you learn?
Barry: I'd say what I like this year is similar to what I like most years, which is really getting a chance to interact with generally, everyone, people that I don't see that often from Baker Hill and getting to see them and talk to them in person, but more importantly, meeting and interacting with other clients and peers of ours and talking through what they're doing, what they're finding, the challenges they're having, and how maybe they've solved challenges similar to ones we've had, and maybe I've got an answer that they need to hear, too. And those are the things that I always take away as the best things. For any of the events like Prosper.
Bryan: Although I was waiting for you to say it was, watching Darren beat me in golf, Barry.
Barry: Well, you know, that's a consistent theme for Prosper.
Bryan: What were some of your, your favorite sessions and topics that we, we covered this year, Barry?
Barry: I'd say a few of my favorites were, I always like any session that will talk about your roadmap because any client is kind of interested in where are you as Baker Hill taking your product and your company. And so I thought. This year was a very good session because it's a little more open as far as not just where's the product going, but how are we thinking about the product more in broad themes and how we're going to kind of own those themes ongoing and not just this is a feature that's going to happen in dot 1234.
So I thought that was a much better perspective and view, not just for us as a client, but I think also for Baker Hill, in my perspective. And then I always enjoy some of the probably tactical sessions, some things around, Hey, here's a talk on portfolio risk management and, you know, have two or three clients talk about what they're doing and what they're seeing those are always valuable as well.
Bryan: I want to come back to the one on the portfolio risk side, Barry, but you mentioned that view of the roadmap. It was definitely very intentional this year from our perspective. You know, I go back to John Degnan's opening remarks and talking about the fact that we've historically talked about digital transformation, which comes with this connotation of a stop, like that you do something and you're done with a digital transformation and really thinking and shifting to the idea of technology evolved and evolving. And that trickling down to our roadmap, as you mentioned, because it definitely is a focus of ours. How do we continue to evolve as our industry evolves as our clients evolve and making sure we're keeping pace. So glad that resonated with you. I'm sure it did with others as well. Unfortunately, I didn't get to sit in on that portfolio risk session. I hear it was quite the entertaining one. They titled it 'Risky Business' and had a nice Tom Cruise theme to it.
You're not wearing your Ray Bans today, that's okay. But what in particular did, did you take away from that session? You know, was there insights into what may be coming with the credit crunch. Is there just things that we can maybe take to heart today with that?
Barry: For us, or for me, actually, more in particular, you know, we're kind of actually going through some implementations ourselves around portfolio monitoring and management. And so that was an important session for me to attend just to hear some perspective from others, kind of what they've seen, what they're doing.
It Not so much any one thing that I took away, but just hearing, you know, here's how we've approached. Here's some of the things that we're seeing as far as maybe the levels that they're doing automated monitoring on versus where they kick out to do manual, which very well differ from what we're doing at HomeBank, but just understanding based on those thresholds. How are they experiencing what they've set up? And one thing I mean, I would just share in general what I take away from a lot of these particular sessions is, is really not so much the session itself. It is, is there something coming out of that session that I want to go then and talk to someone at Baker Hill or one of the other customers that were in that session to say, okay, this got me thinking, let's go talk about X or Y.
Bryan: That's great. And I, I tell you, just wandering the floor, I saw a lot of that. So it sounds like that was highly successful. I saw a lot of collaboration on the floor. I think we were well set up this year to facilitate that with some breakout rooms that were available, seating in the lobby areas, one other thing, Barry, I'm curious your thoughts on again, something very intentional.
So historically we've had a like solution center or demo center, which has been good, but we shifted to an ask the expert this year. Did you have a chance to stop in that area at all?
Barry: I did a couple times and usually it was right after one of those sessions where okay, that triggered a specific question in my mind. Let me go talk to somebody while again, I won't say I'm getting senile, but before my memory fleets away from me. Forget what it was I wanted to ask so I was late to a couple other sessions because I really need to go talk to somebody right now and I did that and I thought that worked very well. On the flip side. I don't know for early adopters or early attendees that maybe this is their first or second prosper that may have felt potentially intimidated by that versus where they could just wander through a demonstration and just kind of ease up to somebody that is, let me demonstrate how portfolio management works. So I can see that there might be a little give and take, but I found it extremely beneficial.
Bryan: Good perspective on it. We want to make sure we are giving access to those experts that you mentioned it at the onset, Barry, of that access to people that have day jobs and sometimes aren't readily available to pick up the phone that can speak in depth on all these aspects. So glad to hear that you were able to take advantage of that and get some of that feedback from those experts.
Barry: I did feel and see that you had more resources available this year than definitely last year. So I thought that was very well represented as far as just having some of the breadth of some of your experts on hand versus maybe back virtually in the office.
Bryan: Right. Now, I can't tell you how much that does or doesn't have to do with the fact that it was in Disney this year and maybe people fighting a little extra harder to get to attend.
Barry: You know that that may may have something, but it is appreciated because for some customers, this may be the only chance that they're going to see anybody from Baker Hill in person other than maybe an account rep. It is nice to be able to actually put faces to names with some of the people that either they're getting mentioned to or referred to or just talk to periodically. So always something we look forward to.
Bryan: And I won't put you on the spot for the age aspect of this, considering you were talking about being senile a minute ago. But if you think back to when you started with Baker Hill, maybe give some advice to first time attendees that may join us in 2025 as to how they can get value out of a Prosper event.
Barry: Absolutely, and this is something I thought about when you invited me to join, too, because even when we were talking about the ask an expert versus maybe just a solution demo or something like that, I look back to the first Prosper that I attended, and I think I was probably, and others from HomeBank were more of the we'll go to the sessions where we're basically just consuming whatever you're presenting versus what now when I go to prosper, I'm still doing that, but I am engaging ahead of time, even with our account reps and others at Baker Hill to say these are the areas that we're either focused on right now, or we're having challenges. Who are the right people that we need to engage with while we're there? Could be a Baker Hill resource, or it could be other customers that are going through that now. And so, I'd say what happened, my first Prosper was probably 80/20 in that 80 percent of what I was doing was just listening to the Baker Hill presentation, and 20 percent was probably engaging with other customers.
And now, it's almost a reverse in that. 80 percent of what I'm taking away is my engagement with the people and 20 percent is the actual presentations and not to diminish the presentations at all, but just the value that you get is going to be in those interactions. And so my recommendation is, hey, do a little bit of homework ahead of time.
And it's like, what are the things that you really want to get out of this from an information perspective and ask your Baker Hill team? For some assistance on that and they'll connect you. They'll work to do it ahead of time, but even when you're there, and this happened to me as well, it's like, Hey, I came out of a session with this question, I need to talk to somebody.
And it might even be Baker Hill. It's like, there's another customer doing that. So I said, that's what I, I'm just sharing kind of my evolution as an attendee of the more interaction that you can plan for and be open to, the more you'll get out of it.
Mitch: I think you, you've hit on it a couple of times and it's something that we talk about a lot as we, as we plan an event like Prosper, right? It's this idea of really building community around our clients. And so you can focus on that time. While you're there, just to get to know, I mean, you said it best, they may be trying to figure something out that you already know, or you may be trying to figure something out that they have a great, great solution for.
It's a great way to connect. So, you know, it's, it's awesome to hear you, hear you say some of that as well. You know, I think that that's, that's an important part of any event. And so I'd be kind of interested to hear, uh, Over the years, I know you said it's kind of shifted a little bit, but what are some of those connections that you've made over the years from going to Prosper several times that have helped you not just from this past event, but maybe thinking back to Prosper in years past where you've been able to connect with someone, build a great industry, peer connection, and be able to use that in your role at HomeBank.
Barry: I have a handful of business cards that I bring back almost from every Prosper. And some of those may end up being, hey, that was just a one time conversation, but I'll say several of them end up being, there may be an email conversation back and forth that happens throughout the year. And it's just another resource that you can reach out to.
Again yeah as you mentioned, yeah, there are this year, no different than other years, but I came home with a solution to a problem that I had that was another customer had solved. So I heard it from another customer, not necessarily Baker Hill, which is all well. I mean, why? I don't care how it gets solved. We just want a solution sometimes.
And so you'd never know where you're going to find answers to your problems. And some of that is going to be through that connection that you create with other customers there. So, you know, I, I probably came back with eight or nine different new relationships that I hadn't interacted with before, and I fully expect to be emailing them over the coming months of just not just a follow up to say, Hey, it was great to meet you.
But, Hey. Let's stay in touch as you have any issues, use me as a resource and I'll do the same.
Bryan: That's great insight, Barry. And I tell you, it's one of the things having been in the FinTech space for a number of years that has always impressed me here at Baker Hill, the true sense of community amongst the user base, the openness that you all have with each other. I mean, I saw you interacting with banks right there in your footprint and talking about how you're operating your processes with next gen that you don't see amongst other technology communities, right? Maybe a little more walled off and guarded. The collaboration is just, I think something very special and appreciate those insights on how much that matters in a conference like this. Cause I would say a lot of folks probably had similar percentages as you is that a lot of that value comes from what you all take away and talk about amongst yourselves. A lot of times spurred by our content, but great to hear that that collaboration means so much to you.
Barry: And it was said a few times at the conference, but Baker Hill is one of the very few vendors where I have seen and experienced that true sense of community. I've managed a number of vendors throughout my career, and it is rare to see. I've seen it voiced on paper, but not really put into action like Baker Hill has done.
And so as a customer, I appreciate that we don't always are going to see eye to eye but the fact that you create this openness, not just with yourselves, but amongst other customers creates an additional level of power that you don't get every day with anybody else. And our account rep was kind of almost apprehensive to say, do you want to talk to a customer that's in your footprint? I'm like, absolutely. I want somebody else nearby to just go, Hey, what you doing? How's this work for you? I don't do that. I look for more shoulders to lean on, I guess is probably the best way to describe it,
Mitch: Coopetition, right? So, Barry, one last question here before we wrap up. So if someone reached out and they said, Hey, why should I go to Prosper 2025? What would you tell them?
Bryan: And it can't just be because it's in San Diego.
Barry: but the number answer out of the way who wouldn't want to go to San Diego. And well done, by the way. Let me just state that. I don't know if I could give you a quick answer anyway, but all I would say is you will gain more than you know from this type of an event because of the connections that you're going to make both with Baker Hill and with other customers like me.
And I will tell you, the majority of anyone that you interact with is very open and willing to talk with you and share with you their experience and their challenges and how they face them. And you're going to solve more of the problems that you may be facing in three days at Prosper than you're going to do three months back at home.
So it is worth every penny to go.
Mitch: Awesome. Well, thanks Barry. Thanks so much for joining us. Thanks not only for your partnership for the conversation today, we really do appreciate it. And then also want to say thanks to everyone out there listening to today's episode of Lending Made Easy.