Ion Bank charges up with Jack Henry’s lending solution
US-based Ion Bank will be using Jack Henry’s ProfitStars solutions for commercial lending.
Through this partnership, the bank says it seeks to increase transparency in its relationships with borrowers, and will automate workflows to manage lending more efficiently.
“[We’re adding] new layers of visibility and mobility that allow a convenient, expedited experience from origination to closing. This advanced, centralised system will help us better serve customers,” says Edma Canaan, senior vice-president of commercial loan administration for Ion Bank.
The incorporated solutions cover digital loan origination, a decisioning engine, approval cycles, and portfolio management workflows.
Russ Bernthal, vice-president of Jack Henry and president of ProfitStars, says: “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.”
The Commercial Lending Centre Suite is manufactured by Jack Henry’s ProfitStars division.
Ion Bank is a subsidiary of Ion Financial, MHC, and has $1.3 billion in assets. The bank serves customers in Connecticut and the greater Naugatuck Valley.
Recently, FinTech Futures reported that Jack Henry was also going to supply Iowa-based MBT Bank with a core and digital banking software revamp.
Just a few months ago, Centric Bank also chose this supplier for a core banking overhaul.
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