Jack Henry introduces FactorSoft Web Portal for near-real-time servicing

By Pavithra R

Jack Henry & Associates, a leading provider of technology solutions and payment processing services primarily for the financial services industry has announced the introduction of FactorSoft Web Portal, a digital solution that provides lenders with the ability to grow and scale with a digital footprint.

Currently, FactorSoft is used by more than 175 lenders nationwide. The new web portal features app-like 24/7 mobile access to give borrowers and their customers personalized, near-real-time account information. The scalable, white-labeled solution features improved authentication and active monitoring of security threats. It also has multilingual functionality for a more user-friendly experience.

“The FactorSoft Web Portal brings digital, touchless technology to an important area of lending. Factoring can help businesses take the next step they need to expand and build our economy. The many lenders providing these services now have a modern, convenient and always accessible way to manage their client relationships and portfolios, enabling them to grow with ease. Strengthening the flow of data and communications with this Web Portal results in both a better user experience and improved portfolio management capabilities,” said Terry Renoux, head of Jack Henry Lending.

FactorSoft supports lenders who are looking to grow their factoring market share and need monitoring tools and controls to scale. It helps in handling all aspects of the business including administrative tasks and full portfolio management. Additionally, FactorSoft is a Jack Henry Hosted Network Solution maintained in the Jack Henry private cloud.

Jack Henry is S&P 500 company that serves approx. 8,500 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.