MONETT, Mo., Aug. 1, 2018 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its ProfitStars® division announced that Ion Bank has selected the Commercial Lending Center Suite™ to boost lending efficiency and provide a more seamless experience for commercial borrowers.
Ion Bank, a wholly owned subsidiary of Ion Financial, MHC, has $1.3 billion in assets and has served customers throughout central Connecticut and the greater Naugatuck Valley for nearly 150 years. Ion Bank was looking to implement a comprehensive digital lending platform that provides greater transparency into borrower relationships. With Commercial Lending Center Suite, the bank benefits from automated workflows that allow them to more efficiently manage lending relationships from one loan experience to the next.
Commercial Lending Center Suite incorporates completely digital loan origination, a simplified decisioning engine, faster approval cycles, and portfolio management workflows to save time while helping ensure accuracy. The platform arms Ion Bank employees with a more comprehensive, precise view of both the entire portfolio and individual borrower relationships.
Edma Canaan, senior vice president of commercial loan administration for Ion Bank, stated, "With Commercial Lending Center Suite, we not only gain efficiencies in the lending process, but add new layers of visibility and mobility that allow a convenient, expedited experience from origination to closing. This advanced, centralized system will help us better serve customers."
Ion Bank chose to be a beta customer for ProfitStars' Document Portal solution within the Commercial Lending Center Suite because they recognized the value and efficiency gains the solution offers. This tool will enable the bank to save time and valuable resources to streamline their processes. The bank also selected to implement functionality within the Commercial Lending DecisionCenter™ to provide the same response convenience and speed of online lenders. Canaan added, "Commercial Lending Center Suite provides the speed necessary to deliver quick answers while still maintaining the high standards of community banking that borrowers trust."
Russ Bernthal, vice president of Jack Henry & Associates and president of ProfitStars, said, "Borrowers today have higher expectations for their lending experiences than ever before, and manual, clunky loan processes are no longer good enough to earn or retain business. Ion Bank recognizes that centralizing and digitizing commercial lending will enhance the bank employee and borrower experience, which earns business and boosts profitability. With Commercial Lending Center Suite, Ion Bank is well positioned for growth within its existing commercial lending portfolio and to compete in new markets."
ProfitStars®, a division of Jack Henry & Associates, Inc.®, helps financial institutions of every asset size and charter, and diverse corporate entities, proactively identify and prepare for risks and market changes that could negatively impact their business. ProfitStars' industry-leading solutions and services include JHA Payment SolutionsTM, Information Security & Risk Management, Online & Mobile, Lending, Financial Performance, and Imaging/Data Management. These solutions help approximately 9,000 clients mitigate and control risks, optimize revenue and growth opportunities, contain costs, and drive future success. Additional information is available at www.profitstars.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve more than 9,000 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
SOURCE Jack Henry & Associates, Inc.