17 September 2014

Bank of Southside Virginia deploys Banno Mobile app

26 June 2014  |  1396 views  |  0 Source: Jack Henry

Jack Henry & Associates, Inc. (NASDAQ:JKHY) ProfitStars® division today announced that The Bank of Southside Virginia (BSV) has fully deployed its Banno Mobile™ solution.

This up-to-the-minute financial aggregation app enables financial institutions of all sizes to offer the latest innovative solutions in mobile banking.

BSV is experiencing strong demand for Banno Mobile; more than 40 percent of its online banking customers downloaded the app in the first four months it was offered. Conversion rates are spread across Millennial, Gen X and Baby Boomer customers, and the app has attracted new customers to the bank. "Days after our first promotion, a customer commented that our app was better than a top-five bank's app; it makes me proud to be a community bank that can offer such excellent service and grateful that our customers recognize that value," said Will Clements, investment officer at BSV.

Banno Mobile works with any core processing system, providing financial institutions of all sizes with a quick, cost effective way to deploy mobile services. Banks and credit unions can market Banno Mobile consistent with their own brand identity, earning recognition as innovative, trusted service leaders. BSV elected to offer the app in conjunction with iPay Solutions™ person-to-person (P2P) payments, bill pay, and Remote Deposit Anywhere™ mobile RDC solutions.

Clements spearheaded the effort to find a mobile app for BSV that would invigorate the bank's self-service channel. The 25-year-old, who first began working at the bank during summers in high school, wanted a technology partner who looked beyond traditional banking technology. "ProfitStars had current designs and innovative ideas, and the Banno Mobile solution worked with our existing infrastructure. Integrating the modern mobile PFM functionality with payment technologies gives us a competitive all-in-one solution that looks good and is easy for customers to navigate," he commented.

David Foss, president of ProfitStars, added, "BSV offers an exemplary tale of how community banks can compete and flourish through self-service channels with help from the right technology partner. As we look to the future, all financial institutions will need a fully integrated, end-to-end solution, making their mobile experience more robust than legacy digital channels."

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