ABPMP Philadelphia Chapter
Thursday, March 30th
5:45 pm - 8:15 pm EST
Double Tree Hotel
4727 Concord Pike, Wilmington, DE 19803
Dr. Joe Bergquist
Joint event w/ ASCM Brandywine Valley Chapter
Automation of the small business loan process in community banks
Community bank executive leaders in the United States are facing an erosion of market share in small business loans due to multiple external and internal factors. Externally, executive leaders are facing new competition from fintech lenders, advances in loan automation technology, and changing small business owner expectations. Internally, executive leaders are dealing with an existing traditional small business loan process that is inefficient and unprofitable, in addition to the risk associated with small business lending and compliance with regulation. A possible solution to these problems is automation of the small business loan process.
In this session Dr. Joseph Bergquist, Vice President, Commercial Lender at Harleysville Bank in Montgomery County, PA, identifies six elements that influence executive leaders’ readiness to automate the small business loan process, which include culture, leadership support, collaboration of business units, data sources, automation software, and employee’s skilled in loan automation. Joseph conducted a study sought to understand executive leaders’ perceptions of these six elements. Using a qualitative exploratory approach, he generated recommendations for the technology service provider sponsor. Recommendations focused around community bank executive leaders’ perceptions of the six elements that influence automation of the small business loan process.
Joseph will also relate his study to the broader and currently omnipresent topics of digital transformation and business process management.
Dr. Joseph Bergquist has been in commercial banking for 22 years. He began his career working for Commerce Bank (currently TD Bank). He currently serves as Vice President, Commercial Lender at Harleysville Bank in Montgomery County, PA.
During his career, Joseph has worked for financial institutions of various sizes from a De Novo start up bank, to a regional bank, one of the big four banks, and a community bank. He has a wide range of experience in commercial banking that includes credit analysis, sales, marketing, product development, portfolio management, balance sheet management, project management, risk analysis, strategic planning, digital transformation, Business Process Management, and business intelligence. Over the years, he has also severed on various banking association, chamber of commerce, and nonprofit boards.
In 2001, Joseph received his undergraduate degree in Finance from St. Joseph's University. In 2014, he graduated from the Stonier Graduate School of Banking. After graduating, he was invited back as a faculty member and for the last 8 years he has served as a capstone advisor and facilitator. In 2015, he received his MBA with a concentration in Business Process Management from Widener University. In 2022, he earned a Doctorate of Business Administration (D.B.A.), graduating Sigma Beta Delta from Wilmington University.