United Bank in Alabama taps Jack Henry for digital upgrade
United Bank, which provides business and retail banking services to communities across southwest Alabama and Florida, US, has partnered with Jack Henry to power its latest digital innovation efforts.
Leveraging around $1.2 billion in assets, the bank is to adopt its new technology provider’s core processing solution and commercial loan origination platform, LoanVantage.
The platform will enable the bank to extend a wider range of loans to its customers, including commercial and industrial loans, asset-based loans, and secured and unsecured loans, among others, accompanied by automated decisioning tools.
With a focus on serving agricultural communities since 1904, the bank currently supports a keen service for borrowers, featuring working capital loans, farm equipment loans, mortgages and personal loans.
On the customer experience side, the bank has also tapped Jack Henry for its Banno Digital Platform, which carries over 250 API integrations with third-party fintechs and will enable the bank to bolster its digital presence in line with customer demand.
The bank maintains a mobile and online banking experience through its personal convenience services, enabling customers to send and receive funds, pay bills and review financial transactions.
Mike Vincent, CEO of United Bank, says its partnership with Jack Henry will “fill in our current technology gaps, streamline our processes, and help us stand out in our communities by elevating our customer experience”.
With its newfound technical capabilities in tow, the bank says it now plans to “continue its growth through a diversified approach, including organic growth, acquisitions, and geographic expansion”.