Missouri-based First State Community Bank (FSCB) has selected Jack Henry and Associates’ Commercial Lending Center Suite for its digital growth plans, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).
Jack Henry’s ProfitStars division said FSCB already uses the SilverLake System for its core banking.
“We’re looking forward to leveraging a commercial lending platform that will automate manual processes and enhance efficiencies as we continue to scale,” said Ben Wasson, vice-president and senior credit administration officer for FSCB. “We’re not just rolling out new technology, we’re implementing a modern way of doing business.”
The suite is digital loan origination platform that includes automated decisioning and portfolio management workflow.
FSCB is the largest banking organization headquartered in Southeast Missouri. It selected ProfitStars’ lending platform “because of its intuitive borrower experience, data integration and advanced portfolio management capabilities”.
“Commercial lending is often the most paper-intensive process in banking, which is off-putting for both borrowers and bank employees,” added Russ Bernthal, vice-president of Jack Henry and ProfitStars.
Founded in 1976, Jack Henry & Associates demonstrated its technology at FinovateFall 2015. The company is headquartered in Monett, Missouri. With a market capitalization of $10 billion, Jack Henry trades on the Nasdaq under the ticker “JKHY.”