Jack Henry Launches Web-Based Accounts Receivable Factoring Tool for Near Real-Time Anytime, Anywhere Service | state

PHOENIX, May 12, 2021 / PRNewswire / – Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of payment processing technology solutions and services, primarily to the financial services industry. Today, 27 from the International Factoring Associatione Annual Factoring Conference, Jack Henry Lending presented FactorSoft® Web Portal, a powerful digital solution that gives lenders the ability to grow and scale with a digital footprint.

Currently, FactorSoft is used by over 175 lenders nationwide. The new web portal offers 24/7 mobile access, similar to an app, to give borrowers and their clients personalized account information in near real time anytime, anywhere. The scalable white label solution offers enhanced authentication and active monitoring of security threats. It is also available with multilingual features for a more user-friendly experience.

Madison, South Dakota-based Assist Financial Services provides accounts receivable factoring services in the transportation industry. It offers same-day financing of purchased invoices to provide customers with operating cash to keep their trucks on the road and grow their businesses. Lindsey Morehouse, IT Specialist at Assist Financial Services, said: “Carriers are accustomed to using app-like experiences to communicate and manage their freight on the road. It makes sense that they would have a similar experience with factoring. The FactorSoft web portal will be easy to customize so that the most used functions are at your fingertips. I’m also excited about the new security features available to business owners as well as dispatchers and drivers. “

FactorSoft meets the needs of lenders who want to increase their factoring market share and who need monitoring tools and controls at scale. It helps manage all aspects of the business – administrative tasks and full portfolio management. Additionally, FactorSoft is a Jack Henry hosted network solution maintained in the Jack Henry private cloud. The required software and hardware, as well as disaster recovery services, are provided by dedicated business computing resources, including hardware, firewalls, virtual servers, virtual desktops, licensing, and maintenance.

Terry renoux, Head of Jack Henry Lending, said: “The FactorSoft web portal brings digital contactless technology to an important area of ​​credit. Factoring can help businesses take the next step they need to grow and build our economy. The many lenders who provide these services now have a modern, convenient and always accessible way to manage their client relationships and portfolios, which allows them to grow easily. Strengthening the flow of data and communications with this web portal results in both a better user experience and improved portfolio management capabilities. “

About Jack Henry & Associates, Inc.

Jack Henry (NASDAQ: JKHY) is one of the leading SaaS providers, primarily for the financial services industry. We are an S&P 500 company serving approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks; Symitar® provides cutting-edge solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of all asset sizes, as well as to various corporate entities outside the financial services industry. With a heritage dedicated to openness, partnership and user orientation for over 40 years, we are well positioned as a driving force in the market for cloud-based digital solutions and payment processing services. We give our clients and consumers human-centered, technology-driven and knowledge-driven solutions that will get them where they want to go. Are you ready for the future? Additional information is available at www.jackhenry.com.

Statements made in this press release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. More specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company’s financial results, is included in its filings with the Securities and Exchange Commission (SEC) on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in documents filed by the Company with the SEC that may cause actual results to differ materially from any forward-looking information.

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SOURCE Jack Henry & Associates, Inc.


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