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 commercial.
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 www.jackhenrybanking.com. 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.