Jack Henry Launches SecurePort, a Sheltered Harbor Solution

Rhea-AI Summary

Jack Henry & Associates (NASDAQ: JKHY) has launched SecurePort, a Sheltered Harbor solution aimed at enhancing data recovery for banks using the SilverLake System core. This solution helps banks prepare for system failures by securely vaulting critical data, ensuring 99.999999999% durability with fast restoration in under 30 minutes. Currently, approximately 1,700 financial institutions will gain access to SecurePort in 2022, enhancing customer security and confidence in financial systems.

Positive

• Introduction of SecurePort enhances disaster recovery capabilities for banks.
• The solution ensures quick data restoration, vital for maintaining customer access.
• 99.999999999% durability of data provides significant reliability for financial institutions.

Negative

• None.

MONETT, Mo., Aug. 31, 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 today introduced SecurePort, a Sheltered Harbor^® solution. SecurePort is available to banks using the SilverLake System^® core to help provide end users with timely access to their account balances and funds should critical systems and traditional backups fail.

SecurePort helps bankers prepare for a worst-case scenario that could cause an institution's crucial systems and backups to fail. The solution includes moving critical data into a secure vault that is encrypted, unchangeable and completely separated from the bank's infrastructure, and resiliency planning with a designated restoration platform. It is the only Sheltered Harbor Solution available that uses the Amazon S3 Glacier for its vaulting provider. The data is stored in at least three geographically-dispersed zones, provides 99.999999999% durability and can be restored in 30 minutes or less. No tape drives or other dated systems can restore systems with that speed.

Sheltered Harbor is a not-for-profit, industry-led initiative founded by 34 financial institutions, clearinghouses, core processing providers, and industry associations including Jack Henry & Associates, the American Bankers Association (ABA), Financial Services Forum (FSF), Securities Industry and Financial Markets Association (SIFMA), Credit Union National Association (CUNA), National Association of Federal Credit Unions (NAFCU) and Financial Services Information Sharing and Analysis Center (FS-ISAC). Jack Henry has been working to help define and build the current requirements for this initiative since 2015.

Las Vegas-based Meadows Bank is a SecurePort early adaptor. Dennis D. Stephens, CISM, CDPSE, senior vice president and information systems manager at the bank commented, "Our top priority as a local community bank is to protect our client's financial wellbeing, especially in times of crisis. SecurePort delivers an added layer of protection to our information security program that helps us to secure critical customer data and ensures that our community has access to their funds at all times. It's comforting to know that Jack Henry thinks of our safety and our futures; they are a partner that we can rely on in these areas ."

Carlos Recalde, President and CEO of Sheltered Harbor said, "The ability to quickly recover critical customer services is necessary to protect consumers and overall confidence in the financial system. Through Sheltered Harbor, the industry has agreed to prepare for extreme outages that were once seen as improbable but are now becoming more likely. Solutions such as SecurePort are a valuable way to enhance the financial sector's stability."

Jack Henry plans to continue to build out its data recovery process in close collaboration with Sheltered Harbor partners. Its other cores, CIF 20/20 ^® , Core Director ^® , and Episys ^® , will be supported in future releases. In 2022, approximately 1,700 financial institutions will have access to SecurePort to protect their customers in times of need.

Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking, commented, "It is our responsibility to consider potential disasters and prepare for worst-case scenarios. In a world of highly connected, integrated systems, SecurePort is a wise precaution. It's yet another layer in the defense against cyber-attacks; a final opportunity to protect public confidence in an event of catastrophic proportions. The result can protect a bank's brand, their customers' financial wellbeing, and our industry's reputation."

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
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 is SecurePort by Jack Henry?

SecurePort is a Sheltered Harbor solution launched by Jack Henry to enhance data recovery for banks.

How does SecurePort benefit financial institutions?

It provides timely access to account balances and funds during critical system failures.

What is the durability rate of data stored in SecurePort?

SecurePort offers 99.999999999% durability for stored data.

When will financial institutions gain access to SecurePort?

Approximately 1,700 financial institutions will have access to SecurePort in 2022.

What core system does SecurePort support?

SecurePort is designed for banks using the SilverLake System core.