Russ Bernthal,
Vice President, Jack Henry & Associates and President, ProfitStars

ProfitStars, a division of the financial technology services provider Jack Henry & Associates, announced that First State Community Bank (FSCB) has selected its Commercial Lending Center Suite with an aim to enhance the borrower experience and support the institution’s commercial lending growth with a modern digital strategy.

Ben Wasson, vice president and senior credit administration officer for FSCB, explained, “The Commercial Lending Center Suite will allow our employees to conduct their business with more speed and visibility while delivering advanced functionality. Our borrowers will be able to apply for loans how and when they prefer. This digital sophistication and speed will make us competitive with alternative lenders and fintechs.”

According to the bank, ProfitStars’ technology will help streamline their commercial lending process, taking data out of silos and providing transparency into individual borrower relationships as well as their overall portfolio.

Russ Bernthal, vice president of Jack Henry & Associates and president of ProfitStars, stated, “Commercial lending is often the most paper-intensive process in banking, which is off-putting for both borrowers and bank employees. FSCB recognized the need to modernize this process, delivering the speed and convenience that is necessary to compete, and to retain top talent. The suite’s open platform will also help them to be more responsive and agile.”

The company states that it’s Commercial Lending Suite’s all-digital loan origination, automated decisioning and portfolio management workflow will enable FSCB to reduce paper and streamline processes, decreasing loan turnaround time and boosting overall productivity. The platform’s online portal allows borrowers and bank employees to more conveniently interact and securely exchange information.

ProfitStars’ lending platform provides intuitive borrower experience, seamless data integration and advanced portfolio management capabilities. Through this borrowers will be able to apply for loans anywhere, from any device, while also delivering newfound efficiencies and transparency into the back office.

Established in 1984, Profitstars is a provider of financial management solutions that enable banks and credit unions to better manage and maximize their performance.

by Megha Bhattacharya
Market Analyst at IBS Intelligence