Salem Five Bank partners with Vikar to accelerate and streamline the processing of their Specialty Lending Loans.
Salem Five Bank partners with Vikar to accelerate & streamline the processing of their Specialty Lending Loans.
By integrating Vikar's advanced technology, Salem Five Bank aims to enhance its efficiency in handling specialty lending loan applications, ensuring a smoother, faster, and more accurate loan processing experience. This partnership reflects a growing need for financial services to adopt digital solutions that simplify complex processes and improve customer experiences. For Vikar, this partnership with Salem Five Bank represents an important step in expanding its footprint within the specialized lending sector.
“We are thrilled to partner with Vikar to elevate our specialty lending loan offerings,” said Brian O’Neil, SVP and Chief Information Officer at Salem Five Bank. “Vikar's innovative technology will enable us to provide our customers with a seamless and efficient experience while meeting their unique financing needs.”
About Vikar
Vikar provides digitized end-to-end software solutions to community and regional banks. Their account opening and loan origination solutions enable seamless collaboration among various stakeholders such as customers, lenders, branch managers, underwriters, KYC teams, and operations teams. This is achieved through a unified interface that supports interactions across different banking services, including loans, deposits, treasury, and wealth management. Their solutions are designed with an integrated, comprehensive perspective on a bank’s operations and connects seamlessly with core banking systems. It supports all major banking business lines—retail, commercial, and wealth management—and can be utilized in multiple service formats, such as self-service, joint service, bank-directed, and full-service models. This versatility helps banks enhance productivity and improve the client experience while maintaining a holistic approach to financial services. For more information visit: https://www.vikartech.com/
About Salem Five Bank
Salem Five Bancorp is the holding company of Salem Five (www.salemfive.com), a mutual bank founded in 1855. Whatever the need and whatever the goal, Salem Five’s banking, investment and insurance professionals have the expertise to move customers forward. Salem Five has more than $7 billion in assets and 34 retail branches in Essex, Middlesex, Norfolk and Suffolk counties. Divisions include Salem Five Mortgage Company, one of the largest mortgage lenders headquartered in New England; Salem Five Wealth Management & Trust, which offers fiduciary wealth management services to institutions and high-net-worth individuals, financial and retirement income planning, portfolio review and money management; and Salem Five Insurance Services, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency. For more information please visit https://www.salemfive.com/
Stephanie Mazzone
Vikar Technologies
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