Bank of Smithtown selects Jack Henry core processing platform

Source: Jack Henry & Associates

Jack Henry & Associates (NASDAQ:JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that New York-based Bank of Smithtown has selected Jack Henry to provide an in-house core processing platform and multiple fully integrated complementary solutions.

According to John A. Romano, executive vice president and chief retail officer, "Bank of Smithtown is a progressive provider of financial services with responsibly managed growth plans in its existing markets. We plan to expand into new markets. We have carefully nurtured a customer-centric orientation and a commitment to personal service which we plan to continually enhance. After review of the functionality provided by our long-time in-house system we launched an extensive evaluation of core system alternatives that would support our future business and growth strategy, and enhance operational efficiencies - all with our commitment to our customers in mind. Based on extensive demonstrations of the core and complementary solutions, we ultimately selected SilverLake as our core processing system and Jack Henry as our technology partner. We believe that SilverLake and the suite of integrated complementary solutions provide the functionality and flexibility we will need near- and long-term, and that Jack Henry has the proven reputation and commitment to meet our expectations."

Tony Wormington, president of Jack Henry & Associates, said, "Bank of Smithtown is an exciting addition to our roster of SilverLake clients that now includes approximately 15 percent of the domestic banks with assets that range from $1 billion to $30 billion. We are confident that the robust functionality provided by SilverLake and our suite of more than 100 complementary solutions will enable this bank to more effectively and efficiently serve its customers, attract new customers and expand into new markets, to optimize its business strategy, and to continually capitalize on the dynamic trends that shape the financial services industry and consumer expectations."

In addition to the SilverLake core system Bank of Smithtown will initially install Jack Henry's Vertex Teller Automation solution, StreamLine Platform Automation solution, Synergy Intelligent Document Management (IDM) system, PassPort.atm ATM processing and network switching services, and the Yellow Hammer Anti-Money Laundering solution.

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