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HAB Bank partners with Jack Henry to enhance commercial lending

Jack Henry & Associates, Inc. has announced that its division ProfitStars’s suite was used by Habib American Bank (HAB Bank) to implement its Commercial Lending Center Suite. The suite is aimed to streamline the bank’s commercial lending processes, boost efficiencies and enhance the overall experience for lenders and borrowers. HAB Bank has previously associated with Jack Henry for boosting its business processes.

With the launch of Commercial Lending Center Suite, HAB is planning to automate its commercial lending process. The company realised ProfitStars’ capabilities in automating workflows and their digital expertise before opting their solution. The suite’s capability to provide lenders with the flexibility to leave the branch and meet borrowers where they are, all-digital loan origination, decision making, and portfolio management workflows help enable HAB Bank to save time, enhance accuracy, and boost productivity throughout the lending process. The bank now has a centralised platform that allows lenders to collaborate and fulfill loans with increased transparency.

“We previously performed our underwriting manually, moving too many paper files between departments and desks. With the Commercial Lending Center Suite, we have incorporated sophisticated automation into the process from application through funding, which increases productivity and leads to better, more enjoyable experiences for lenders and borrowers. Our ultimate objective is to create a paperless environment enterprise-wide, and automating commercial lending moves us one large step closer to achieving this goal,” explained Rizwan Qureshi, senior executive vice president for HAB Bank.

NYC-based HAB Bank is a community bank with branches throughout New York, California and New Jersey with a growing portfolio concentrated primarily in commercial real estate.

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