Bayside Business Solutions, Inc. and Bridge Capital Holdings (NASDAQ:BBNK), whose subsidiary is Bridge Bank, a full-service professional business bank headquartered in Silicon Valley and with offices located nationwide announced today that Bridge Bank’s Capital Finance Division is implementing Bayside’s CADENCE Portfolio Management Platform to administer its Capital Finance business, which includes factoring and asset-based lending.
“We are excited to introduce our clients to a new and improved way of accessing their loan account information through CADENCE software,” said Lee Shodiss, executive vice president and division manager in Bridge Bank’s Capital Finance Division. “This upgraded access to real time account details should significantly improve their banking experience by providing a dramatically more convenient way to manage their banking needs,” he added.
“CADENCE is unique in that it allows commercial lenders to effectively manage any type of collateral supporting any type of commercial loan on a single system. It’s a capability that lenders, like Bridge Bank, increasingly seek in order to diversify their commercial lending products,” stated Russ Opper, Bayside’s managing director. “We are seeing a growing trend where financial institutions need to adapt to other types of collateralization. CADENCE offers collateral and loan management throughout the full spectrum of collateral types.”
Opper added, “We’re very excited to be working with Bridge Bank. They are innovative commercial lenders actively seeking new ways to offer a wider variety of services to their clients as effectively as possible. We’re pleased to be part of their plans for continued growth.”
Bayside Business Solutions is an innovative supplier of portfolio management software to the global commercial lending industry. Bayside has customers throughout North America as well as in Australia, the UK, Europe and Latin America.
Recognized by The Findley Reports as a Super Premium Performing Bank, and designated “Superior” by BauerFinancial and IDC, Bridge Bank is a full-service professional business bank founded in the highly competitive climate of Silicon Valley in 2001.