19 October 2017
Register now

Jack Henry and Saylent team on customer rewards offering

20 November 2008  |  2954 views  |  0 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 it has established a strategic alliance with Saylent Technologies, a pioneering provider of payment intelligence software, that will deliver a fully integrated customer rewards solution for Jack Henry & Associates' core clients.

BIG Rewards can increase profitability by attracting and retaining customers and deposits by offering high-interest checking, cash-back, and merchandise incentives that reward customers based on their banking relationships and posted account transaction activity during existing statement cycles. This Web-based solution is being integrated with Jack Henry & Associates' core processing systems and will be offered in an ASP environment managed by Jack Henry & Associates.

According to Tony Wormington, president of Jack Henry & Associates, "BIG Rewards will enable our financial institution clients to accurately report on and analyze customer data, transaction behavior, and payment patterns. This deeper insight can then be used to build stronger, more profitable relationships by developing customer segmentation strategies and by defining and implementing customer loyalty and incentive programs. Powerful analytics capabilities allow the impact of unique rewards programs and changes in customer behavior to be objectively and accurately measured."

Debbie Wood, general manager of Marketing and Strategic Initiatives for Jack Henry & Associates, reported, "BIG Rewards is an ideal example of our commitment to offer contemporary solutions that can generate competitive advantages for our clients and positively impact their growth strategies. Integrating Saylent's state-of-the-art solution with our information processing platforms will provide our clients with a powerful customer acquisition and retention tool. Our delivery of this solution in a hosted environment also provides a low cost of ownership and allows our financial institution clients to focus on program results rather than implementation."

Tyson Nargassans, president of Saylent Technologies, said, "In a challenging economic climate, financial institutions of all sizes are under intense pressure to increase deposits, attract and retain customers and accounts, and cement customer loyalty. This alliance will allow financial institutions to develop targeted, customized rewards programs that work. During its 32-year history, Jack Henry & Associates has consistently offered industry-leading, competitively distinct solutions to its customers and we are pleased to support that mission and help its valued clients succeed and prosper in today's highly competitive marketplace."

BIG Rewards utilizes Saylent's Account360(TM) solution as the software platform. Saylent will also deliver consulting and optimization services to help Jack Henry & Associates' clients maximize the potential of the payment intelligence by effectively capturing, analyzing, and understanding payment activity and using that business information to make customer relationships more profitable. Saylent will help financial institutions segment their customer bases and design the right loyalty and rewards program for each targeted segment.

Jack Henry & Associates also licenses and offers Saylent's Card360(TM) solution (formerly known as Y-Debit) which automates debit card program segmentation and trend analysis to its customers. Card360 enables financial institutions to generate detailed network and merchant-level reporting, accurately segment cardholders, and produce greater insight into debit cardholder buying behavior and profitability metrics. With Card360, financial institutions can develop, implement, and track targeted marketing strategies and programs to drive interchange revenue and increase wallet share.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.com visit www.fivedegrees.nl

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15563 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8753 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8403 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7848 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6995 views comments | 9 tweets | 17 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job