Digital consumer lending now an option

Wednesday, February 10, 2021

Jack Henry and Associates adds new program to lending suite

Jack Henry and Associates, Inc., of Monett, has announced the availability of Jack Henry Consumer Loans, a unified solution to manage and support borrower relationships and loans of all types through a simplified, digital process.

Banks and credit unions are under mounting pressure to drive interest income in a low-interest and highly competitive environment, all while delivering a digitally optimized and comprehensive banking experience to customers and members. Jack Hanry Consumer Loans enables customers and members to apply for and complete loan services digitally to provide an easier, more consistent borrower experience. This innovative solution helps financial institutions better serve borrowers throughout all life stages and more effectively grow their relationships. The technology is 100 percent cloud based and bridges the gap between consumer and commercial segments, eliminating the need to run multiple systems to support different loan types.

With Jack Henry consumer loans, financial institutions can reduce vendor management burden and costs, while simplifying communication between departments. A single solution also means streamlines regulatory reporting for HDMA, CRA and Community Development, enhancing institutions compliance posture.