Business
Jack Henry Recognized for Lending Innovation in FinTech Breakthrough Awards Program
Annual Awards Program Honors Outstanding Financial Technology Products & Companies MONETT, Mo., March 23, 2023 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY),
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"Annual Awards Program Honors Outstanding Financial Technology Products & Companies\nMONETT, Mo., March 23, 2023 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY), today announced that its LoanVantage solution has been selected as winner of the \"Best Loan Origination Platform\" award in the 7th annual FinTech Breakthrough Awards program. The program is conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in today's global FinTech market.\n\n \n \n \n \n \n \n\n \nLoanVantage from Jack Henry is a flexible, all-digital platform that reduces friction throughout the entire loan lifecycle. The platform's one-system approach leverages integrations that centralize data between application, underwriting, approval, and monitoring. The platform gives community and regional financial institutions the ability to compete with fintechs and megabanks by providing both the borrower and the lender an intuitive user experience.\nJack Henry's LoanVantage offers an easy-to-use borrower-facing application, complete with automated offers and approvals. The application questions and flow are configured based on the loan type and provide a simple, efficient, modern experience. A secure online portal for uploading required documents gives borrowers the choice of in-person or online interaction.\n\"We are incredibly honored to be recognized by FinTech Breakthrough,\" said Jack Henry President of Complementary Solutions Matt Riley. \"LoanVantage can shorten loan processing time from weeks to minutes, enabling financial institutions to deliver easy-to-use, modern technology to effectively compete and win in today's challenging market. Banks and credit unions also can process more loans in less time by harnessing the capabilities of an end-to-end system for both consumer and commercial loans. LoanVantage's digital experience helps financial institutions attract and support the diverse lending needs of the people and businesses they serve, all in a remote environment that's available 24/7.\" \n123-year-old Killbuck Savings Bank, based in Killbuck, Ohio, went live with LoanVantage in April 2021. Due to the efficiencies gained, the $800-million asset bank saw their biggest lending year ever in 2022, increasing loan volume by 25% and processing over 1,000 commercial loans throu...