Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division announced today that The Victory Bank has selected its Commercial Lending Center Suite™ to elevate the borrower experience and support additional commercial loan growth.
Limerick, Pennsylvania-based The Victory Bank specializes in commercial lending and has a well-established regional footprint. The bank has $220 million in assets and wanted to bring in technology that would better support the work of its talented loan team to continue growing the business at a strong pace. With Commercial Lending Center Suite, The Victory Bank is adopting a digital lending platform that will allow them to more seamlessly manage borrower relationships from one loan experience to the next.
Commercial Lending Center Suite permits interested borrowers to easily request loans online, bridging the gap between client expectations and normal banking hours. The technology allows borrowers and financial institutions to more conveniently interact and securely exchange information.
Saul Rivkin, senior vice president and director of institutional relationships for The Victory Bank, stated, “New disruptors are entering the lending space; however, these organizations lack the experience and trust found within traditional financial institutions. At The Victory Bank, delivering exceptional customer service is our number one priority, which is why we’re partnering with ProfitStars to digitize the commercial lending process and improve how borrowers interact with us. With Commercial Lending Center Suite, we will be able to provide the speed and advanced technology required to meet borrowers’ expectations.”
With Commercial Lending Center Suite, The Victory Bank will benefit from all-digital loan origination, decisioning, and portfolio management workflows that save time, improve accuracy, and boost efficiencies in the commercial lending process. Because the platform removes data from silos and houses it in one central location, bankers are armed with a more comprehensive view of individual borrower relationships as well the institution’s entire lending portfolio. This transparency will enable more open internal collaboration between members of The Victory Bank’s lending team.
Russ Bernthal, president of ProfitStars, added, “Too often today, we see financial institutions that have cobbled together certain pieces and parts necessary to facilitate commercial loans. This creates disparate databases, which are detrimental to operational efficiency and the borrower experience. The Victory Bank understands the importance of a platform approach to commercial lending, one that puts the borrower experience first. By leveraging Commercial Lending Center Suite, The Victory Bank is combining proven banking principles with advanced technology to bring speed and convenience to the borrower, while simultaneously introducing newfound efficiency and transparency to its back office.”
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