Five Community Banks Partner with Jack Henry to Add Open Integration, Efficiencies

Rhea-AI Summary

Jack Henry & Associates (NASDAQ: JKHY) announced that five community banks have chosen its Core Director core system in H1 CY21, deploying it in a private cloud environment. The banks opted for Jack Henry due to its open architecture and modern digital tools, which enhance efficiency and customer service. The First National Bank of Peterstown noted improvements in data integration and operational accuracy, while First National Bank of Jeanerette aims to streamline processes enterprise-wide. Jack Henry's solutions position these banks competitively against larger institutions.

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• Five community banks selected Jack Henry's Core Director system, enhancing operational efficiency.
• Implementation of modern digital tools expected to improve customer experiences significantly.
• Increased automation and integration lead to time savings and improved accuracy in banking operations.

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• None.

MONETT, Mo., Sept. 1, 2021 /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 five community banks recently selected the Core Director^® core system in the first half of CY21 and are deploying it in Jack Henry's private cloud environment. The decisions were made based on Jack Henry's open architecture, comprehensive functionality, and added efficiencies; modern digital tools were also drivers, enabling automation and personal service at the moment of need.

The First National Bank of Peterstown, based in Peterstown, W.Va., has been serving its local community for more than 100 years. The bank's previous core was disjointed and didn't communicate well with other systems, creating inefficiencies and a cumbersome back-office experience. With Jack Henry's core, the bank is gaining a tightly integrated platform that reduces the need for duplicate data entry, saving time while improving accuracy. The First National Bank of Peterstown will also launch the Banno Digital Platform™ to provide customers with a more intuitive, personal digital experience. The platform is built on open architecture, allowing the bank to more easily innovate and partner with providers of choice to meet rapidly changing market demands with increased efficiency and speed.

Jeremy Brown, president of The First National Bank of Peterstown, explained, "The past year and a half has demonstrated that investing in digital is an investment in the future, which is a key reason we chose Jack Henry. We are gaining a technology partner that offers increased efficiencies and allows us to deliver faster, fully comprehensive services to our customers, wherever and whenever they choose to bank. The Jack Henry team has given us great confidence in this partnership by going above and beyond to make our conversion successful."

La.-based First National Bank of Jeanerette was faced with similar technology challenges; it was operating with siloed systems that didn't effectively work with one another. The bank is implementing Jack Henry technology across the enterprise, including the core platform with digital banking and loan solutions, to streamline processes and maximize automation. The bank expects to create new efficiencies that allow them to focus on community and customer needs while reducing turnaround time for customer service and requests.

Damon Migues, president and CEO of First National Bank of Jeanerette, said, "We are going all-in with Jack Henry to increase efficiencies and enhance experiences enterprise-wide. We look forward to replacing tedious manual processes and systems in favor of more sophisticated technology that will allow us to save time and provide members with faster, more seamless service."

Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking, said, "The community bank advantage has never been in greater demand; consumers and businesses are looking to their local, trusted institutions to help them plan their financial futures as the world stabilizes. By investing in open architecture and enterprise-wide automation that helps optimize processes, these five institutions are positioning themselves competitively against the largest banks in the country while still providing the local, personal service and support their customers need. We are proud to partner with these five institutions as they perpetuate the community bank difference."

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 multi-billion-dollar institutions. Jack Henry Banking currently serves more than 1,000 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 (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking^® provides innovative solutions to community and regional banks; Symitar^® provides industry-leading solutions to credit unions of all sizes; and ProfitStars^® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in cloud-based digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? 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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SOURCE Jack Henry & Associates, Inc.

FAQ

What recent partnerships has Jack Henry, ticker JKHY, announced?

Jack Henry announced that five community banks have selected its Core Director core system to improve operational efficiency.

How are the community banks benefiting from Jack Henry's solutions?

The banks are improving data integration, enhancing customer service, and reducing operational inefficiencies.

What technology challenges were faced by the community banks before partnering with Jack Henry?

The banks were using siloed systems that did not communicate effectively, leading to inefficiencies.

When did these community banks choose Jack Henry's Core Director system?

The community banks made their selection in the first half of CY21.