Planters First Bank Introduces New Jack Henry Solutions to Better Serve Business Customers
Jack Henry & Associates (NASDAQ: JKHY) announced the successful implementation of its technology solutions by Planters First Bank, a community bank in Georgia. The bank aims to grow by 10% annually by modernizing its services to better compete against larger financial institutions. With Jack Henry's Banno Digital Platform, Planters First Bank improved productivity, increased online banking adoption from 35% to 68%, and doubled mobile deposits. This partnership reflects Jack Henry's commitment to helping community banks enhance their technological capabilities.
- Planters First Bank improved online banking adoption from 35% to 68%.
- Mobile deposits more than doubled post-implementation.
- The bank aims for a 10% annual growth rate with new technology.
- None.
MONETT, Mo., Feb. 1, 2022 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ: JKHY) announced today that Planters First Bank launched Jack Henry capabilities to innovate and deliver competitive services that differentiate them from megabanks and big tech, supporting its vision to be the best community bank for Middle Georgia.
Cordele, Ga.-based Planters First Bank, a 125-year-old community bank with roots in agricultural banking, is growing to serve small- to middle-sized businesses in urban areas, with a focus on professional services firms and technology innovators. The bank was on its previous core system for 20 years and needed a more modern and flexible technology provider to remain competitive and grow with scale at the targeted rate of
Since introducing Jack Henry's capabilities to their customers, Planters First Bank significantly improved productivity and efficiencies, without adding resources. It has enabled customers to do more business digitally while still being able to access personal assistance and support when needed. For example, jhaEnterprise Workflow™ has automated business processes by escalating customer requests to the approval group within minutes, rather than hours. Additionally, launching the Banno Digital Platform just before the COVID-19 pandemic enabled the bank to service the increased digital demands of their customers and integrate such services as Autobooks' payments for small businesses. As a result, online banking adoption rates increased from
Dan Duchnowski, Chief Banking Officer at Planters First Bank, commented, "We are a bank with a rich history of 125 years and deep roots in our local community, and we believe very strongly in using technology to remain competitive in the market. Even prior to the pandemic, we realized that to continue to meet our customers' needs and help small- and medium-sized businesses thrive in our communities, we had to revamp our technology offering. We selected Jack Henry because they understand our mission, respect our history, and will help us grow organically. Moreover, Jack Henry's products offer a fresh and easy user-interface that our customers love."
Stacey Zengel, president of Jack Henry Banking, said, "At Jack Henry, our main driver is to help community banks like Planters First Bank meet the needs of today's tech-savvy consumers and remain competitive in the market. Planters First Bank's story is inspiring, as they saw an opportunity to continue to serve the local agricultural industry, while also scaling into metropolitan areas. We are proud to be a part of their legacy."
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ:JKHY) is a leading SaaS provider of technology solutions primarily for the financial services industry. We are an 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 future-ready 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.
