HAB Bank Teams Up with Jack Henry to Enhance Commercial Lending Process by Offering All-Digital Loan Origination

Jack Henry & Associates, Inc. has confirmed that its division ProfitStars’s suite was used by Habib American Bank (HAB Bank) to develop its Commercial Lending Center Suite. The suite will improve the institution’s commercial lending business, enhance operational efficiencies and help offer a better experience for both lenders and borrowers. HAB Bank has reportedly worked with Jack Henry on other initiatives that involved streamlining various business processes.

Following the introduction of Commercial Lending Center Suite, HAB is now preparing to automate its existing commercial lending business. The firm realized ProfitStars’ ability to automate routine workflows and their expertise in developing digital solutions before choosing their products. The suite’s capabilities allow lenders to leave the branch and conveniently meet borrowers where they currently are, and offer all-digital loan origination.

The software allows users to improve decision-making and enhance the portfolio management process. HAB Bank will use the suite in order to save time, improve accuracy, and enhance productivity while carrying out the lending process. The institution now has a centralized platform that makes it easier for lenders to work cooperatively and issue loans with greater transparency.

Rizwan Qureshi, senior executive vice president at HAB Bank, noted:

“We previously performed our underwriting manually, moving too many paper files between departments and desks. 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.” 

Qureshi added:

“Our ultimate objective is to create a paperless environment enterprise-wide, and automating commercial lending moves us one large step closer to achieving this goal.” 

New York City-headquartered HAB Bank is a community bank with branch locations in New York, California and New Jersey. The institution has a growing portfolio focused mainly in commercial real estate.

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