As per the latest news on Aug 12th, 2021, Jack Henry & Associates’ subsidiary Jack Henry Lending reported that USD 11.9 billion-asset - First State Bank of the Southeast has entered into an association with Jack Henry to leverage its digital commercial loan services to further organize and automate the commercial lending operations.

The previous lending origination framework of the FirstBank was highly manual, tedious, and required a significant amount of time. Therefore, the bank is determined to remedy the situation by automating the commercial lending process to facilitate a quick, more satisfactory experience for both borrowers & fund providers. The further association with Jack Henry will enable lenders to consistently team up and track and screen individual loans more efficiently as well as the overall portfolio, boosting quality, further developing authenticity, and decreasing loan turnaround times.

As per Angie Vaughn, Senior Credit Analyst of First State Bank, “We Chose Jack Henry’s digital commercial lending service because it is vigorous, innovative, and caters to our organization's requirements. In addition to this, Jack Henry is a trusted and proven service provider; we are already in a partnership with them for documentation management, loan pricing, and reporting abilities. So, we are aware and comfortable with the company’s offerings. With the help of their digital commercial lending service, we will be more empowered to efficiently help small and mid-sized organizations in our community, which is the main concern for our bank.”

The all-advance loan origination process, arrangement, and portfolio management work processes will assist the bank upgrade transparency, encourage productivity, and save time. Its mobile facilities give lenders the adaptability to leave their work areas, meeting clients where they are.

As per Terry Renoux, head of Jack Henry Lending, “The sector has been struggling to digitize and organize manual & paper-based operations quicker than ever before. Institutions that make vital digital ventures, for example, First State Bank, will now be capable of better catering to customers in the upcoming time. Our digital commercial lending solution will enable bank’s employees to facilitate simpler, and more convenient service to the small and medium-sized organizations in their local areas, assisting them to explore the latest economic hurdle and reestablish their financial position. ”

Jack Henry is an S&P 500 organization that serves approx. 8,700 customers cross country through 3 divisions: Jack Henry Banking assists banks ranging from local area banks to multi-billion-dollar organizations; Symitar facilitates several services to credit associations of all sizes; and ProfitStars provides exceptionally particular solutions to the financial institutions of every asset size, as well as various corporate entities outside of the financial administration industry.

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