Business
BCT-Bank of Charles Town Automates Commercial Lending with Jack Henry
BCT-Bank of Charles Town Automates Commercial Lending with Jack Henry.
About this update from Potomac Bancshares, Inc.
[{"type":"text","content":"\n\n\n\nBCT-Bank of Charles Town Automates Commercial Lending with Jack Henry\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBCT-Bank of Charles Town Automates Commercial Lending with Jack Henry\nBank will digitize commercial lending and increase efficiencies to enhance borrower and lender user experience\nPR Newswire\nCHARLES TOWN, W.Va., Jan. 5, 2022\n\n\n\nCHARLES TOWN, W.Va., Jan. 5, 2022 /PRNewswire/ -- (OTC:PTBS) – BCT-Bank of Charles Town, also known as The Community's Bank, today announced it will digitize its commercial lending experience through a collaboration with Jack Henry & Associates, Inc. (NASDAQ:JKHY).\n\n \n \n \n \n \n \n\n \nBCT has experienced rapid growth in recent years after investing heavily in digital banking solutions, namely their website, digital wallets, and mobile deposit features. Still, the bank's previous loan origination system had a manual backend process, leading to a burdensome experience for both borrowers and employees and a lengthy loan turnaround time. To continue growing, BCT needed a loan origination solution with a superior customer front-end and a seamless process, one that would boost efficiencies, enhance customer experience, streamline internal work efforts, and ultimately eliminate unnecessary costs. With Jack Henry, the bank is gaining a centralized and flexible solution that enables lenders to make an informed credit risk decision, track and monitor individual loans as well as manage portfolios.\nAnthony J. Ranghelli, Vice President and CTO of BCT, explained, \"We selected Jack Henry's lending platform because it supports our broader digital banking strategy. The platform will help us grow with scale and efficiency while improving everyone's experience. Our immediate goal for the next few years is to expand our digital lending footprint geographically to support businesses in neighboring communities and diversify our portfolio. We selected Jack Henry to position us for success and help us break down physical barriers.\"\nThe solution's all-digital loan origination, analysis, review, and portfolio manage...