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About & History Lending Cycle, Inc. was founded by bankers with a focus on research and development. |
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The Beginning In 2005, while serving as a bank EVP, John Jackson was trying to find a solution to effectively manage shared operational processes and lending productivity. He needed a team collaboration solution that would automate staff activity, lender productivity analysis, and other types of tasks that were being poorly addressed by spreadsheets. A key idea was that everyone involved should easily know the status of everything (loans, appraisal orders, etc.) and where it was in the process. He needed a solution that didn't exist. So, he started a research and development effort that year, formed Lending Cycle, Inc. (LCI) in 2007, and launched a unique solution to market in 2008. That solution is LendingCycle, a team collaboration environment that coordinates internal and external lending activity. The LendingCycle brand was specifically meant to identify products that intuitively connect everyone in the lending process from application to close.Early Success While LendingCycle products were introduced in 2008 and promptly had customers, most of the company's early revenue was from behavioral research grants (specifically for financial environments). During this time, company executives were often being tapped by government/academic institutions and news outlets like CNN about the condition of community banks. Despite launching during a banking crisis, LCI's products and research developed a following quickly and the company was sold in 2010 to an organization that owned banks and bank technology companies. After the close of LCI, Jackson recruited technologist Josh Johnson to form a new company that focused on efficiencies for managing mass data sets (specifically sensitive personal information). Shortly after starting the new company, Jackson also led a successful effort with the original LCI investors to purchase LCI back. His intent was that all his companies would share talent and have a common management group. After the purchase was complete, all LCI technologies were licensed and only a few LendingCycle clients (that included long-time and current customer Simmons Bank) had a direct relationship with the company. The restrictions from these licensing agreements meant LCI was prohibited from selling or marketing the LendingCycle brand in any manner. LendingCycle for Everyone After almost a decade of licensing rebranded versions of LendingCycle products (which included solutions like Wolters Kluwer's ComplianceOne Manager), Jackson led an effort to bring all LendingCycle related products back under the management of the LCI team. Advancements in collaborative methods/technologies developed by LCI and its sister companies led to the conclusion that all future versions of this concept should only be available under the LendingCycle brand. In 2023, all licensing restrictions were lifted. Jackson then merged all the sister companies into one entity. This effort allowed his team to consolidate efforts and streamline how their solutions are used/sold. There are now just two easy to understand product sets. LendingCycle Enterprise functions inside financial institutions, organizing staff activity and simplifying processes. The LendingCycle Exchange system is for outside appraisers, funding parties, attorneys, and other entities; allowing them to collaborate (via file exchange, messaging, etc.) with their partner institutions (using Enterprise) in an easy and secure environment. The core concept from 2005 of a team collaboration solution that manages shared processes and automates the lending environment for all users has evolved into the best solution available for organizing lending teams in any type of institution. About Lending Cycle, Inc. is a private company headquartered in Franklin, Tennessee with offices in Tennessee and Louisville, Kentucky. |
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