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Jack Henry's (JKHY) Lending Platform Gets Selected by BCT

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Jack Henry & Associates’ (JKHY - Free Report) Jack Henry Lending platform has been chosen by Bank of Charles Town (BCT). This highlights the strength of the company’s Lending division.

The Lending division will help BCT digitize and automate the commercial lending procedure. It will also provide the bank with a seamless solution for managing portfolios, tracking individual loans and taking informed credit risk decisions.

On the back of Jack Henry Lending, BCT aims to expand presence in the digital lending space and bolster its portfolio offerings.

With the recent move, Jack Henry has added strength to the customer base. This is expected to contribute to its top-line growth in the upcoming period.

Lending Division in Focus

Jack Henry has been working toward strengthening the lending division in order to make loans more accessible to borrowers. Also, it has been introducing new capabilities to expand offerings.

Recently, Jack Henry Lending incorporated tax return spreading into its digital lending platform called LoanVantage.

In addition, it launched a powerful digital solution named FactorSoft Web Portal that provides near-real-time servicing to lenders anytime and anywhere.

It also released agricultural industry spreading models to help financial institutions in the seamless processing of agricultural loans.

Further, the availability of Jack Henry Consumer Loans for creating and managing loans as well as supporting borrower relationships remains noteworthy.

Expanding Clientele

Jack Henry has been continuously gaining momentum among customers, thanks to its efficient and reliable portfolio of solutions.

Apart from BCT, Peapack-Gladstone Bank leveraged Jack Henry Lending’s digital Paycheck Protection Program solution to automate the process of offering new services that are helping businesses to recover from the pandemic.

Further, Jack Henry extended collaboration with Crews Banking Corporation. Per the terms, Crews will use Jack Henry’s solutions for advancing its banking operations.

Additionally, Jack Henry and CU Business Group signed a referral partnership to make availability of payments, digital lending as well as financial performance solutions from Jack Henry to the latter’s network of more than 600 credit unions.

Also, the company has more than 300 banks and credit union partners, which remains a positive. These banks and credit unions leverage its Gladiator Centurion Enterprise-Level Recovery solution for securing the backup and recovery of critical systems in the cloud.

Zacks Rank & Other Stocks to Consider

Currently, Jack Henry carries a Zacks Rank #2 (Buy).

Investors interested in the broader technology sector can also consider other top-ranked stocks like Advanced Micro Devices (AMD - Free Report) , Mimecast Limited and Arrow Electronics (ARW - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Advanced Micro Devices has gained 59.9% on a year-to-date basis. The long-term earnings growth rate for AMD is currently projected at 46.2%.

Mimecast has gained 60.8% on a year-to-date basis. The long-term earnings growth rate for MIME is currently projected at 35%.

Arrow Electronics has gained 31.6% on a year-to-date basis. The long-term earnings growth rate for ARW is currently projected at 27.4%.


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