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2018 HW Tech100 Winner: BankLabs

Cloud-based service automates construction loan management

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BankLabs

Lending, Servicing, Real Estate

BankLabs’ Construct is a cloud-based service that automates the construction loan management process for community banks. It is accessible from phones, tablets or computers, and eliminates the need for paper files and spreadsheets, increases bank productivity, mitigates the risk of overfunding projects and improves the experience for the builder, borrower and inspector.

Using Construct, a builder is able to view available funds via computer or mobile device and submit a draw request. Notifications are then sent via text or email to the inspector, borrower and bank personnel.

banklabs.com

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