Jonathan Patrick

Jonathan is the Senior Product Manager responsible for Lending functionality inside the Episys core. Prior to joining Jack Henry & Associates, Jonathan was Senior Vice President/Chief Lending Officer at UT Federal Credit Union in Knoxville, TN where he and the credit union won multiple awards for innovation. Earlier in his career, he was a commercial lender with a regional bank where he was party to over $500M in commercial loans. Jonathan has a startup background as an advisor, founder and investor.

Recent Posts

Loan by Robot?

Posted by Jonathan Patrick

May 10, 2017 11:30:00 AM

Does “Robo-advice” Include Lending?

By now, financial services consumers have gotten used to the idea of a robot handling their money. In fact, according to Accenture, seven out of 10 consumers even welcome “robo-advice” for their banking, insurance, and retirement services.(1) So clearly, consumers are at least open to the notion of a robot handling their assets – but what about their liabilities? Are consumers ready for a loan processed entirely by a robot?

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Topics: Lending, Tomorrow's Technology

3 Ways Credit Unions Can Make Their MBL Troubles All but Disappear

Posted by Jonathan Patrick

Dec 7, 2016 11:30:00 AM

Some credit unions didn’t get the news they wanted regarding recent changes by the National Credit Union Association (NCUA) to the Member Business Lending (MBL) regulations. The announcement included the removal of the requirement for personal guarantees from business loan borrowers. What the announcement didn’t include, to the chagrin of some credit unions, was the removal of the so-called “MBL cap.” If you aren’t familiar with this part of the regulation, Section 723.16(a) states “The aggregate limit on a credit union's net member business loan balances is the lesser of 1.75 times the credit union's net worth or 12.25% of the credit union's total assets.”

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Topics: Regulatory Compliance, Credit Unions

Rewards Apart

Posted by Jonathan Patrick

Jul 27, 2016 10:00:00 AM

Service Isn’t the Panacea, Value Matters as Well

Ask just about any financial institution how they are different and you will inevitably be told it is through “WOW service.” Service is the most commonly quoted differentiator, because many banks and credit unions believe there is little room left to differentiate through products and services. While the people factor certainly plays a huge role, standing apart from the pack these days means creating real value.

It is important to understand the credit union philosophy in order to grasp why they are driven to provide real value to their members. The difference can be seen in how they define people that do business with them and as a “member”, you essentially own the credit union.

Traditionally the value offered for being an owner has come in the form of better-than-market interest rates. However, lately credit unions have been looking to extend that value by increasing the types of rewards programs they offer.

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Topics: Customer Experience

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