A new suite of lending platforms is launched for credit unions and their members.
Core provider Monett, Mo.-based Jack Henry & Associates ProfitStars' division announced the launch of Commercial Lending Center Suite.
ProfitStars new comprehensive collection of lending services and solutions combines several existing solutions with newly developed resources in a range of delivery methods to help lenders identify the most appropriate products.
ProfitStars' Commercial Lending Center Suite includes the Commercial Lending BusinessCenter, a secure portal where borrowers can share financial information directly from their accounting system. The lender receives a business health report with trends and ratio analysis, and other strategic resources.
The Suite also includes Commercial Lending FinancialCenter, an online portal – complete with application, financial package assembly, workflow, and pipeline management – that allows businesses to apply via any Web-enabled device; LendingNetwork, an online marketplace with non-traditional loan options that matches borrowers with appropriate alternatives; Commercial Lending Management System for managing commercial loan relationships; FactorSoft, for the monitoring and management of purchased accounts receivables; and BusinessManager, for offering initial and ongoing cash to creditworthy businesses.
“Commercial Lending Center Suite gives financial institutions the flexibility to customize lending processes to meet the needs of a wider variety of commercial borrowers and compete like never before. The centralization of these resources also expands our organization's use of a 'suite' delivery model, an ongoing initiative to help clients derive optimal value from our software and services.” Russ Bernthal, president of ProfitStars, said.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
