Jack Henry has acquired AL-based Bayside Business Solutions, a provider of complete portfolio management systems for commercial lenders and industry leader in providing factoring software.
The company will become a part of Jack Henry & Associates’ ProfitStars® Lending Solutions Group that continues to have a successful history of assisting bank partners with their commercial loan portfolio growth and diversification. Bayside’s strong market position in factoring technology through its FactorSoft solution became even stronger in the past three years with the development of CADENCE.
CADENCE is a commercial portfolio management platform that supports a variety of commercial financing products (including the solution formerly branded as FactorSoft) ranging from factoring to all types of asset-based commercial loans. The CADENCE technology allows borrowers access to the overall credit process through a virtual 24/7 online portal. CADENCE’s ability to seamlessly accommodate the entire life cycle of a commercial loan customer in a single platform makes it an ideal solution and complement to ProfitStars’ commercial lending solutions platform.
Bayside has customers throughout North America as well as in Australia, the UK, Europe, and Latin America. Its operations are located in Birmingham, Alabama, and include worldwide support capabilities.
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