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 Commercial Lending Center Suite™ received the Best Business Lending Platform Award from FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global fintech market.
The FinTech Breakthrough Awards acknowledge fintech innovators and leaders from around the world in a range of categories, including Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and more. More than 3,500 nominations were submitted for the FinTech Breakthrough Awards this year.
James Johnson, managing director of FinTech Breakthrough, said, “Business lending has historically been a substandard experience for the borrower and one major fintech breakthrough includes a focus on delivering a stellar experience for the borrower as well as the lender. ProfitStars’ relationship-based lending process with their Commercial Lending Center Suite is a fantastic example of this fintech innovation, providing an all-digital, automated commercial lending platform that manages business borrower relationships throughout ongoing loan experiences. We are pleased to recognize ProfitStars as a marquee 2019 FinTech Breakthrough Award winner for their innovation in the business lending industry.”
Commercial Lending Center Suite is a digital lending platform that enables financial institutions to seamlessly manage borrower relationships from one loan experience to the next. The platform’s all-digital loan origination, decisioning and portfolio management workflows save time, enhance accuracy and enable quick, automated loan decisions based on the financial institution’s unique credit policy. Approximately 500 institutions are currently leveraging the platform to enhance their commercial lending line of business.
Russ Bernthal, vice president of Jack Henry & Associates and president of ProfitStars, commented, “Commercial lending has traditionally been a siloed, paper-based function within a financial institution. With our digital platform, all types of commercial lending institutions, including banks, credit unions and those not regulated, are automating processes and creating efficiencies that ultimately strengthen borrower relationships and provide confidence in scaling their portfolios. We are proud to be recognized for our platform’s innovation and success with this FinTech Breakthrough Award for the Best Business Lending Platform.”
The FinTech Breakthrough Awards are open to individuals, companies, and organizations who create fintech products and services. For more information, visit www.fintechbreakthrough.com.