Renasant Bank Case Study


Renasant has a rich history of achievement in its journey to becoming one of the South's most successful companies with 175+ banking, lending, insurance, wealth management, mortgage and financial services offices and $8.3 billion in assets. Renasant is a company dedicated to solid leadership, innovation, and community partnership.
 
CHALLENGE

Renasant Bank was coordinating the administration of their construction loan portfolio with manual methods. "As the portfolio grew, administration became more cumbersome", said Andy Robertson, Director of Construction Lending. "We spent too much time coordinating inspections and draw requests, our old methods would have required more staff to really grow, and our construction loans were more expensive to manage."

SOLUTION

Pinnacle sought a technology solution to streamline their construction loan management process, increasing efficiency, shortening draw turnaround time, and improving the user experience for everyone involved. By digitizing the process, Built provided a means for Pinnacle to quickly and easily request draws and inspections and provide complete transparency to all key parties. "It's beneficial to the bank as well as its borrowers," said Armstrong. "Built allows for faster draw turnaround times and our builders enjoy having real-time information at their fingertips."

 

RESULTS
  • Loan portfolio grew with more efficient administration 

  • Draw processing time is faster and more flexible 


"It's so easy for our customers to use, and they enjoy it. The platform sets Renasant apart from a customer service perspective and we use it as a sales tool. It's amazing software." 

ANDY ROBERTSON
Director of Construction Lending

Renasant Bank Logo
INDUSTRY
  • Residential Construction

CHALLENGE
  • Time consuming, manual process
  • High administrative burdens
  • Clients had limited services

SOLUTION
  • Streamlined technology with Built
  • Complete transparency

RESULTS
  • Faster draw processing times
  • Complete transparency
  • Doubled loan volume
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