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

Jack Henry & Associates’ ProfitStars division has announced that First National Bank, based in Maine, has selected the Commercial Lending Center Suite in order to develop a sophisticated approach to commercial lending and achieve efficiency in processes.

Commercial Lending Center Suite comprises of all-digital loan origination, automated decisioning and portfolio management capabilities. The solution will help cut down the manual processes involved in operating spreadsheets and will enable the bank to simplify and quicken its processes.

Russ Bernthal, vice president of Jack Henry & Associates and president of ProfitStars, stated, “Manual, cumbersome processes and interactions will no longer be tolerated by borrowers or financial institution employees, and savvy institutions like First National Bank are investing in the technology necessary to facilitate an easier, more intuitive experience for all involved in the commercial lending process. ”

“The centralized platform will also deliver newfound visibility into the bank’s portfolio, enabling them to better track loans and make smarter, more informed decisions. We’re excited to broaden Jack Henry’s relationship with First National Bank as they combine personal service with additional sophisticated digital capabilities,” he added.

According to the supplier, ProfitStars’ suite is expected to provide advanced reporting services for enhancing accountability. It will also aim to automate workflows, reduce loan turnaround time and thus, increase productivity. The bank, post-implementation,  will be able to introduce modern benefits such as online loan application and quick decision process.

Jon Nicholson, senior vice president for First National Bank, explained, “The Commercial Lending Center Suite will deliver speed and transparency to our commercial lending, while also delivering the intuitive, convenient experience borrowers seek. Time that our employees previously spent on post-closing paperwork will now be used for new business opportunities, positively impacting our bottom line and supporting our growth.”First National Bank already utilizes Jack Henry Banking Silverlake System.

Recently, Jack Henry & Associates’ ProfitStars division has announced the availability of its Gladiator Total Project, a suite comprising of IT, network security and compliance services

by Megha Bhattacharya
Market Analyst at IBS Intelligence