Ion Bank, a wholly owned subsidiary of Ion Financial, MHC, has $1.3 billion in assets and has served customers throughout central Connecticut and the greater Naugatuck Valley for nearly 150 years. Ion Bank was looking to implement a comprehensive digital lending platform that provides greater transparency into borrower relationships. With Commercial Lending Center Suite, the bank benefits from automated workflows that allow them to more efficiently manage lending relationships from one loan experience to the next.

Commercial Lending Center Suite incorporates completely digital loan origination, a simplified decisioning engine, faster approval cycles, and portfolio management workflows to save time while helping ensure accuracy. The platform arms Ion Bank employees with a more comprehensive, precise view of both the entire portfolio and individual borrower relationships.

Edma Canaan, senior vice president of commercial loan administration for Ion Bank, stated, “With Commercial Lending Center Suite, we not only gain efficiencies in the lending process, but add new layers of visibility and mobility that allow a convenient, expedited experience from origination to closing. This advanced, centralized system will help us better serve customers.”

Ion Bank chose to be a beta customer for ProfitStars’ Document Portal solution within the Commercial Lending Center Suite because they recognized the value and efficiency gains the solution offers. This tool will enable the bank to save time and valuable resources to streamline their processes. The bank also selected to implement functionality within the Commercial Lending DecisionCenter™ to provide the same response convenience and speed of online lenders. Canaan added, “Commercial Lending Center Suite provides the speed necessary to deliver quick answers while still maintaining the high standards of community banking that borrowers trust.”

Russ Bernthal, vice president of Jack Henry & Associates and president of ProfitStars, said, “Borrowers today have higher expectations for their lending experiences than ever before, and manual, clunky loan processes are no longer good enough to earn or retain business. Ion Bank recognizes that centralizing and digitizing commercial lending will enhance the bank employee and borrower experience, which earns business and boosts profitability. With Commercial Lending Center Suite, Ion Bank is well positioned for growth within its existing commercial lending portfolio and to compete in new markets.”