First State Bank selects Jack Henry Lending to digitalize commercial lending process

By Pavithra R

Jack Henry & Associates’ subsidiary Jack Henry Lending has announced that First State Bank of the Southeast has expanded its alliance with Jack Henry, selecting its digital commercial loan solution to streamline and automate the commercial lending process. 

The bank’s previous loan origination system was largely manual and time-consuming. First State Bank decided to automate its commercial lending process to offer a fast, more convenient experience for both borrowers and lenders. With Jack Henry, its lenders can seamlessly collaborate and track and monitor individual loans better as well as the overall portfolio, creating efficiencies, improving accuracy and reducing loan turnaround times. 

“We selected Jack Henry’s digital commercial lending solution because it is robust, modern, and meets our institution’s unique needs. Plus, Jack Henry is a trusted and proven provider; we already partner with them for document management, loan pricing, and reporting capabilities, so we’re familiar and comfortable with the company’s service. With their digital commercial lending solution, we’ll be better equipped to more efficiently support small and mid-sized businesses in our community, which is a top priority for our bank,” said Angie Vaughn, Senior Credit Analyst of First State Bank

The all-digital loan origination, decisioning, and portfolio management workflows will help the bank improve transparency, boost productivity, and save time. Its mobile capabilities provide loan officers with the flexibility to leave their desks, meeting customers where they are. 

“The industry has been challenged to digitize and streamline manual and paper-based processes faster than ever before. Institutions that make strategic digital investments, like First State Bank, will now be positioned to better serve customers well into the future. With our digital commercial lending solution, the bank’s employees will be able to provide easier, more convenient service to the small and mid-sized businesses in their community, helping them navigate recent economic challenges and regain their financial confidence,” said Terry Renoux, head of Jack Henry Lending.

Jack Henry is an S&P 500 company that serves approx. 8,700 clients nationwide through 3 divisions: Jack Henry Banking supports banks ranging from community banks to multi-billion-dollar institutions; Symitar provides various solutions to credit unions of all sizes; and ProfitStars offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry.