Bank Systems & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Core Systems

09:00 PM
Cynthia Ramsaran
Cynthia Ramsaran
Connect Directly

First Arkansas Automates Lending with FundsXpress

Quick 'yes-or-no' answers made possible with new system

First Arkansas Bank and Trust (Jacksonville, Ark.) has launched FundsXpress' (Austin, Texas) fxLending automated lending software, in order to better serve account holders and prospective loan applicants while increasing back-office efficiency and front-office revenue. fxLending will allow First Arkansas to receive and process loan applications via its Web site, making the application process more cost- and resource-efficient.

First Arkansas vice president Gary McMillan says the bank has used other FundsXpress software for five years and has been preparing to launch fxLending for about two years.

"It's an automated underwriting system with an Internet presence," says McMillan. "Once the application is made online, it can be brought in to the system and underwritten by the (FundsXpress) system. They give you a yes or no answer according to the bank's lending policy."

FxLending is the latest addition to FundsXpress' product suite of Internet-based financial services. It combines loan origination, underwriting, and management solutions into one package for banks, while giving loan applicants better customer service and an easier process for online applications.

1 of 7
Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.