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Independent Financial Selects Jack Henry to Automate Commercial Lending

February 23, 2022, 07:05 AM
Filed Under: Technology

Jack Henry & Associates announced that Independent Financial has expanded its collaboration with Jack Henry, selecting the company's digital lending platform, LoanVantage®, to automate commercial loans for small and medium-sized businesses.

McKinney, TX-based Independent Financial is already leveraging Jack Henry's core capabilities and was introduced to the digital lending platform after acquiring a Jack Henry Lending user, Guaranty Bancorp, in 2019. The $18.7 billion-asset bank liked how the system worked and decided to roll it out enterprise-wide. Easily scalable, the platform streamlined processes and created a more digital and user-friendly lending experience for both borrowers and lenders.

Theresa Nguyen, Vice President Lending Solutions at Independent Financial, explained, "Jack Henry gives us an advantage over other financial institutions in our community. Once we grasped the sophistication of the digital lending platform and learned how to leverage it for the benefit of our customers and community, we decided to fully embrace all its features. The Jack Henry team has been indispensable during the implementation process, training our staff, listening to our feedback and suggestions, and helping us find solutions that would make our processes more robust."

Independent Financial has seen rapid growth in recent years, expanding its geographic footprint and diversifying its client portfolio, most recently focusing on better serving small and medium-sized businesses in its community. The bank's previous lending platform had cumbersome features that could not support its growth. Natalye Bollinger, Senior Vice President, Director of Credit Systems and Analytics at Independent Financial, added, "We selected Jack Henry's lending solution to help us grow our commercial loan portfolio and better support our middle-market customers who need a digital, flexible, and efficient lending experience. We aim to automate and streamline our processes, while still offering personal assistance and support when needed. With Jack Henry, we offer a modern, competitive experience start to finish; we are able to reduce costs while improving customer communication and service."

Gary Lewis, managing director for Jack Henry Lending, commented, "Independent Financial can continue to grow its market with ease, making a real difference for the businesses in its community. Their acquisition granted them the opportunity to benefit from a fully digital lending experience. As a well-rounded financial technology company, Jack Henry provides technology and services that enable community and regional financial institutions to strengthen connections with accountholders and compete with mega-banks and fintechs. I hope that all community institutions evaluate their programs at this depth so that we can level the playing field and best support the small and medium businesses of America."

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