#LendTech / Jack Henry launches online marketplace to improve how FIs can buy, sell, and participate in commercial loans

Jack Henry & Associates, Inc. [provider of technology solutions and payment processing services primarily for the financial services industry]… introduced the Jack Henry Loan MarketplaceSM, an online community for financial institutions to easily engage in the buying, selling, and participation of loans… [it] provides unbiased access to opportunities from financial institutions across the country. It centralizes communications and transactions related to the purchase, sale, and trade of these loans, plus directly connects counterparties to eliminate the need for a broker.

[CEO of Community Financial Services Bank:] “With the Jack Henry Loan Marketplace, we gain a network of like-minded peers who want easier, smarter ways to manage our existing portfolios…”

The Jack Henry Loan Marketplace allows loans to be presented as single transactions or pooled together and can accommodate any lending asset class. The digital format reduces document transfer from weeks to a day, sometimes minutes. Marketplace participants gain a transparent process that provides an audit trail of all buying, selling, and trading. Intuitive listings allow users to navigate the marketplace with ease, filtering by asset class, product type, geography, loan amounts, and counts, or a number of other credit metrics. Financial institutions also receive deal notifications whenever a trade hits the marketplace that matches their current conditions.

https://www.fintechf.com/01-news/jack-henry-launches-online-marketplace-to-improve-how-fis-can-buy-sell-and-participate-in-commercial-loans/?PostID=18349876&utm_medium=email&utm_source=rasa_io