Jack Henry & AssociatesThe JKHY Jack Henry lending platform has been chosen by Bank of Charles Town (BCT). This highlights the strength of the company’s loan division.
The Lending division will help the BCT to digitize and automate the commercial lending process. It will also provide the bank with a seamless solution to manage portfolios, track individual loans, and make informed credit risk decisions.
On the back of Jack Henry Lending, BCT aims to expand its presence in the digital lending space and strengthen its portfolio offerings.
With the recent move, Jack Henry has strengthened its clientele. This should help to grow its turnover in the coming period.
Jack Henry & Associates, Inc. Price and consensus
Jack Henry & Associates, Inc. price-consensus-chart | Quote from Jack Henry & Associates, Inc.
Focus on the loan division
Jack Henry has worked to strengthen the lending division to make loans more accessible to borrowers. In addition, it has introduced new capabilities to expand the offerings.
Recently, Jack Henry Lending integrated tax reporting into his digital lending platform called LoanVantage.
Additionally, it launched a powerful digital solution called FactorSoft Web Portal which provides near real-time service to lenders anytime, anywhere.
He has also published Agricultural Industry Diffusion Models to assist financial institutions in the seamless processing of agricultural loans.
In addition, the availability of Jack Henry consumer loans to create and manage loans as well as to support relationships with borrowers remains remarkable.
Jack Henry has steadily gained ground with his customers, thanks to his portfolio of efficient and reliable solutions.
In addition to BCT, Peapack-Gladstone Bank leveraged Jack Henry Lending’s digital paycheck protection program solution to automate the process of delivering new services that help businesses recover from the pandemic.
In addition, Jack Henry has extended his collaboration with Crews Banking Corporation. Under the terms, Crews will use Jack Henry’s solutions to advance their banking operations.
Additionally, Jack Henry and CU Business Group have signed an SEO partnership to make Jack Henry’s payments, digital loans, and financial performance solutions available to Jack Henry’s network of more than 600 credit unions.
In addition, the company has more than 300 partner banks and credit unions, which remains positive. These banks and credit unions are leveraging its Gladiator Centurion Enterprise-Level Recovery solution to secure backup and recovery of critical systems in the cloud.
Rank Zacks and other actions to consider
Currently, Jack Henry wears a Zacks Rank # 2 (Buy).
Investors interested in the wider tech sector may also consider other top stocks such as Advanced micro-systems AMD, Mimecast limited MIME and Electronic Arrow ARW. You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.
Advanced Micro Devices has gained 59.9% year-to-date. AMD’s long-term profit growth rate is currently projected at 46.2%.
Mimecast has gained 60.8% year-to-date. MIME’s long-term profit growth rate is currently projected at 35%.
Arrow Electronics has gained 31.6% year-to-date. ARW’s long-term profit growth rate is currently projected at 27.4%.
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