Jack Henry Banking Announces Next-Generation Lending Platform
-- Next-generation, compliance-driven OnBoard Loans platform supports retail
and commercial lending and generates immediate operating efficiencies --
MONETT, Mo., Jan. 17, 2013
MONETT, Mo., Jan. 17, 2013 /PRNewswire/ -- Jack Henry & Associates, Inc.
(NASDAQ:JKHY) is a leading provider of technology solutions and payment
processing services primarily for the financial services industry. Its Jack
Henry Banking^® division announced today the availability of the OnBoard
Loans™ retail and commercial lending platform.
OnBoard Loans streamlines the retail and commercial lending process and
provides the optimal flexibility and functionality to originate new loans.
This compliance-driven system uses dynamic documents for all 51 jurisdictions,
which are updated via Internet downloads and are produced based on applicable
regulatory requirements, loan type, and transaction-specific information.
OnBoard Loans integrates with a variety of forms vendors' dynamic technologies
and supports a wide variety of lending transactions including consumer secured
and unsecured, consumer real estate, home equity lines, construction, and
According to Mary Jo Sutton, loan documentation manager at Kentucky-based
Cumberland Valley National Bank, "OnBoard provides the flexibility and
scalability we need with dynamic forms that reduce our disclosure issues and
give us the ability to adjust for as many signature lines as we want. We are
saving a significant amount of time and reducing headaches now that we don't
have to manually update loan forms. It was very overwhelming to try and keep
up with regulatory changes, and manually updating forms or submitting work
orders was cumbersome. I believe that any time you can perform a process
better, you are more competitive. The fact that we are producing a better and
more consistent set of commercial documentation with OnBoard makes us feel
like we are performing better as a bank. The real payoff with OnBoard has been
that we have centralized our loan processing and now have two people
processing loans versus 10."
According to Doug Childress, general manager of Jack Henry & Associates'
Retail Delivery group, "OnBoard's intuitive design and easy navigation enable
bankers to become proficient quickly and immediately improve operating
efficiencies, branch productivity, and customer satisfaction with a
next-generation lending platform. We are excited to formally introduce OnBoard
Loans to our client base and to support banks' intensified focus on improving
operating efficiencies with an innovative solution that will deliver immediate
and ongoing benefits."
About Jack Henry Banking
Jack Henry Banking, a division of Jack Henry & Associates, Inc., is a leading
provider of integrated computer systems for banks ranging from community banks
to mid-tier institutions. Jack Henry Banking currently serves more than 1,300
banks as a single source for integrated, enterprise-wide automation and as a
single point of contact and support. Additional information is available at
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.^® (NASDAQ: JKHY) is a leading provider of
computer systems and electronic payment solutions primarily for financial
services organizations.Its technology solutions serve more than 11,900
customers nationwide, and are marketed and supported through three primary
brands. Jack Henry Banking^® supports banks ranging from community to mid-tier
institutions with information processing solutions.Symitar^® is the leading
provider of information processing solutions for credit unions of all
sizes.ProfitStars^® provides best-of-breed solutions that enhance the
performance of domestic and international financial institutions of all asset
sizes and charters using any core processing system, as well as diverse
corporate entities. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are
forward-looking information. Actual results may differ materially from those
projected in any forward-looking information. Specifically, there are a
number of important factors that could cause actual results to differ
materially from those anticipated by any forward-looking information.
Additional information on these and other factors, which could affect the
Company's financial results, are included in its Securities and Exchange
Commission (SEC) filings on Form 10-K, and potential investors should review
these statements. Finally, there may be other factors not mentioned above or
included in the Company's SEC filings that may cause actual results to differ
materially from any forward-looking information.
SOURCE Jack Henry & Associates, Inc.
Contact: Analyst, Kevin D. Williams, Chief Financial Officer, +1-417-235-6652;
Media, Dennis Jones, Marketing Manager, +1-704-357-0298
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