Source: Jack Henry
Jack Henry & Associates (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that Texas-based Southside Bank will migrate from Jack Henry Banking's Banker II core processing system to its SilverLake System.
This long-time client bank, which has more than $2.1 billion in assets, will install SilverLake in-house.
According to Keith Miller, senior vice president of Information Technology for Southside Bank, "We have enjoyed a 10-year relationship with Jack Henry & Associates that has been hallmarked by great service and quality products. Realizing we have simply outgrown Banker II and that we are facing a conversion, we decided it was in our best interest to evaluate core processing alternatives despite our satisfaction as a Jack Henry client. We confined our search to a select few technology solutions but we quickly determined that SilverLake provides the contemporary and broad functionality we need. We are also extremely excited about the increased number of integrated complementary products now available to us as a SilverLake user, and consider jXchange to be an important differentiator since it will maximize our operating flexibility and reduce our need for custom code. We believe Jack Henry is a well-managed company, we are impressed with its strategic direction, and we believe entrusting our bank to another Jack Henry solution is a risk-free decision."
jXchange, a services-oriented architecture on a .NET platform, provides open connectivity between Jack Henry Banking's core and complementary solutions, as well as third-party products. Although Jack Henry Banking provides one of the most extensive product offerings available today, its experience supporting approximately 1,700 core bank clients demonstrated that diverse banks have niche product requirements outside its offering. In response, Jack Henry Banking developed this contemporary integration methodology to increase banks' operating flexibility and enable them to leverage their existing and future technology investments.
Tony Wormington, president of Jack Henry & Associates, said, "It is extremely rewarding when progressive mid-tier institutions like Southside Bank select us to support their technology needs based on feature/function comparisons of our systems with competitive alternatives. It is also rewarding when we are selected based on what we believe to be our core competencies - solid core functionality, one of the most extensive suites of integrated complementary products and services available today, and a company-wide commitment to provide service levels that exceed our clients' expectations. We sincerely appreciate the opportunity to continue serving as Southside Bank's technology partner and expect SilverLake will have a significant near- and long-term impact on this bank's progress and performance."