Jack Henry acquires Vanguard Software Group

Saturday, September 2, 2017

Acquisition expands position in commercial lending market

Monett-based Jack Henry and Associates (JHA) has acquired Vanguard Software Group, a Florida-based technology company specializing in the underwriting, spreading, and online decisioning of commercial loans.

Vanguard joins JHA as part of the ProfitStars lending solutions group, which continues to have a successful track record of assisting financial institutions with their commercial loan portfolio growth and diversification.

According to the company announcement, underwriting in a digital environment is in high demand and on an upward trajectory. Vanguard's LoanVantage underwriting and spreading product is a complete commercial loan lifecycle management solution that supports a variety of underwriting applications, from simple requests to complex cash flow analysis and credit memorandums.

Financial institutions use LoanVantage to streamline credit committee processes for larger transactions. LoanVantage enhances borrower access to the overall credit process by providing an online digital application solution available 24 hours a day, seven days a week.

Recently, Vanguard added a Quick Decision product for automated decisions on smaller, less complex business loans.

"Vanguard's strategic position in the commercial lending market, its dynamic LoanVantage product, its loyal customer base and our consistent company cultures are just a few of the many reasons we're excited about this acquisition," said Russ Bernthal, president of JHA's ProfitStars division. "The LoanVantage technology not only expands the functionality of our Commercial Lending Center suite, but also enhances cross-sell opportunities, ultimately contributing to increased growth opportunities for our clients and their commercial customers."

Vanguard's full integration with the Commercial Lending Center suite allows for near-real-time communication with JHA's core processing and ancillary solutions.

"The market has moved very quickly in the past three years to automate and remove the paper-based processes for completing commercial loans," said Mark Hill, co-founder and CEO of the Vanguard Software Group. "The need for a complete process of taking a new commercial loan request all the way to handing off a closed loan to the financial institution's core system in a digital, paperless environment has been on everyone's wish list. As a part of Jack Henry and Associates, we are now stronger in the markets we serve."

This is the second business acquisition in just over two years for JHA. The Monett-based firm acquired Bayside Business Solutions in the summer of 2015. Vanguard Software Group is based in Longwood, Florida. Terms of the transaction were not disclosed.

Jack Henry and Associates is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve more than 9,000 customers nationwide.