Jack Henry strengthens its Loan Marketplace with new tools

Friday 7 May 2021 10:19 CET | News

Jack Henry has announced acquiring a suite of tools and analytics from Stackfolio to strengthen its Loan Marketplace.

The marketplace for this offering represents more than USD 1 billion in loan opportunities across the country from a community of more than 1,000 financial institutions to date, as the press release says.

Jack Henry partnered with Stackfolio in 2021 to introduce an efficient, cost effective way for banks and credit unions to manage their loan portfolios, the Jack Henry Loan Marketplace. The Marketplace allows loans to be presented as single transactions or pooled together and can accommodate any lending asset class.

It centralises communications and transactions related to the purchase, sale, and trade of these loans into a digital format that reduces document transfer from weeks to a day, sometimes minutes, as the company suggests. The Loan Marketplace can connect directly to counterparties’ core and/or loan origination systems, introducing efficiencies in the loan sale process as opposed to legacy intermediaries. 

Jack Henry will bring the technology into its cloud-based infrastructure, allowing the banks and credit unions it supports to gain access to proprietary research and analytics on lending trends and activity. This enables financial institutions to make more informed trading decisions on a national level. With Jack Henry Lending, institutions can use one system to facilitate all their commercial and consumer lending needs, creating a more automated and streamlined approach to business. 

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Keywords: Jack Henry, partnership, product upgrade, banks
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech

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