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SOURCE Jack Henry & Associates, Inc.
- Banks to implement the SilverLake System through Jack Henry Banking's outsourced offering -
MONETT, Mo., Oct. 29, 2013 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking® division announced today that NorthStar Bank and Athens Federal Community Bank have both selected its SilverLake System® core processing platform to provide enterprise-wide automation through Jack Henry Banking's outsourced offering, JHA OutLink Processing Services™.
According to Monty Wiegel, president and CEO of Florida-based NorthStar Bank, which has approximately $192 million in assets, "Attracting, serving, and retaining commercial customers in our competitive marketplace is a key component of our bank's growth and business strategy. We made the decision to replace our legacy core system with one that provides sophisticated commercial functionality and that would enable us to expedite our speed-to-market with new commercial products and services. We retained an experienced consulting firm to help us evaluate our alternatives and after detailed system demos and visits with existing system users, we were convinced SilverLake has the functionality we need. The full integration between SilverLake and Jack Henry Banking's complementary solutions also enables us to stop investing our internal resources in the development and maintenance of multiple interfaces between our core and disparate add-on products. Jack Henry Banking's commitment to full integration also generates material operating efficiencies that just cannot be realized in an interfaced environment."
Jeff Cunningham, president and CEO of Tennessee-based Athens Federal Community Bank, which has approximately $284 million in assets, said, "We have high but reasonable expectations for our technology partner and trust that our relationship with Jack Henry Banking will drive our institution forward. We expect the same commitment to customer service and responsiveness that our bank provides to our customers. And we expect products and services and ongoing releases to be production-proven and ready for implementation without operational issues or distractions. Jack Henry & Associates has a strong reputation for providing high-quality products and outstanding customer services, it is financially strong and stable, it has a clear long-term strategy, and it has a very satisfied and loyal customer base. Our interaction with existing SilverLake users clearly validated the results of our consultant-driven evaluation and gave us added confidence we were partnering with the right company and were making the right long-term technology decision."
Stan Viner, general manager of sales for Jack Henry Banking, said, "Banks select Jack Henry Banking for three fundamental reasons – product quality, exceptional service, and the way we do business. Banks select SilverLake for the deep core functionality, strong commercial banking capabilities, full integration with more than 100 complementary solutions, and the extensive customization opportunities it provides. We are excited to add these two banks to the family of approximately 425 banks that have installed SilverLake in-house or implemented the system through our outsourced offering. We look forward to establishing close, long-term relationships with these banks and to delivering the service levels that exceed their expectations and the ever-advancing functionality they need to optimize their dynamic business strategies."
About Jack Henry Banking
Jack Henry Banking, a division of Jack Henry & Associates, Inc., is a leading provider of integrated computer systems for banks ranging from de novo to mid-tier institutions. Jack Henry Banking currently serves more than 1,300 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. ® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. 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, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
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