Banking

HAB Bank implements Jack Henry’s commercial lending platform

Habib American Bank (HAB Bank) has gone live on Jack Henry & Associates’ Commercial Lending Center Suite.

HAB Bank wanted to underpin its commercial portfolio

HAB Bank, founded in 1983, is a community bank with a “growing” commercial portfolio centred on the real estate market.

Based in New York, it’s an existing customer of Jack Henry’s Symitar core banking system. It wanted to implement a new platform to streamline its commercial lending process and picked the vendor due to the system’s “robust automated workflows and advanced digital capabilities.

“We previously performed our underwriting manually, moving too many paper files between departments and desks,” says Rizwan Qureshi, senior executive vice president for HAB Bank.

“With the Commercial Lending Center Suite, we have incorporated sophisticated automation into the process from application through funding, which increases productivity and leads to better, more enjoyable experiences for lenders and borrowers.”

HAB Bank’s ultimate aim is to create a paperless environment across its business.

Russ Bernthal, vice president of Jack Henry and president of ProfitStars, its subsidiary which supplies Commercial Lending Center Suite, adds: “HAB Bank recognised the need to move away from cumbersome, paper-intensive tasks in favour of a more modern, streamlined lending process.”

Jack Henry’s core banking solution attracted 57 new clients in 2019 according to the vendor’s own figures.

See more: The Clearing House connects 15 credit unions to RTP network with Jack Henry

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