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New Century Bank signs for Jack Henry SilverLake platform

06 August 2009  |  2272 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 that New Century Bancorp (Nasdaq: NCBC), the holding company for New Century Bank, has selected Jack Henry Banking as its technology partner and the SilverLake System as its technology platform.

This North Carolina-based bank, which has more than $600 million in assets, will implement SilverLake through Jack Henry Banking's outsourced offering.

William L. Hedgepeth II, president and CEO of New Century Bank, said, "The decision to select Jack Henry Banking's SilverLake System was driven by our need to partner with a firm that could provide the level of service we need and our customers demand from us. References played an important role in the process. Several years ago we purchased a small bank that was automated by Jack Henry Banking's CIF 20/20 core system and the employees raved about Jack Henry Banking's service and support, as well as their integrated products and services. We also know some strong banks that are automated by the company's technology platforms. These respected bankers validated our opinions about the way Jack Henry Banking does business, the way it supports its clients, and the functionality that its core and complementary systems provide."

According to Lisa F. Campbell, EVP, COO, and CFO of New Century Bank, "We made the decision to convert to a new technology platform based on several strategic goals. First, our bankwide focus on sales and service will be more streamlined with the new system, enabling us to eliminate some manual processes and to use new, automated tools for cross-sell and service opportunities and to track our success, including customer profitability. Second, the system will allow us to integrate solutions in order to reach our efficiency goals. And finally, we believe our ability to gain new retail and commercial deposits and increase market share among small- and mid-sized businesses depends on more sophisticated loan and deposit applications, as well as value-added products such as remote deposit capture."

Tony Wormington, president of Jack Henry & Associates, said, "We are confident that the ability to leverage the functionality and flexibility of SilverLake will enable New Century Bank to optimize its business strategy, continually enhance its customers' experience and its staff's productivity, and proactively capitalize on the trends that are shaping the banking industry. We believe this bank's SilverLake decision will be its last core technology decision and we look forward to a long, successful relationship with this growth-focused bank."

New Century Bank currently uses PROFITstar® ALM/Budgeting, the asset/liability management and budgeting system provided by Jack Henry & Associates' ProfitStars® division.

In addition to SilverLake, New Century Bank will initially implement an array of Jack Henry Banking's complementary solutions including the Vertex Teller Automation System, StreamLine Platform Automation, the Synapsys sales force automation and marketing solution, the Cognos 8 BI Web-based report generation solution, NetTeller Online Banking, NetTeller Cash Management, the DirectLine OFX Internet banking solution for PC-based financial management systems, Opening Act online account opening solution for deposits and loans, Electronic Statements-Interactive electronic generation and delivery of customer communications, the InTouch Voice Response telephone banking solution, Remote Deposit Capture, the Bounce Protection overdraft privilege solution, the Relationship Profitability Management (RPM) enterprise-wide profitability solution, the Margin Maximizer Suite of loan and deposit pricing solutions, modules of the Synergy(TM) Enterprise Content Management (ECM) solution, the Yellow Hammer(TM) suite of fraud detection and prevention solutions, Outlink branch capture and item processing services, Check 21 solutions, jhaPassPort Direct outsourced ATM driving and real-time transaction authorization, Enhanced Account Analysis account ROI assessment solution, Regulatory Reporting Solutions electronic FDIC reporting systems, Enterprise Conversion Solutions image and data conversion solutions, and Intellix Consulting operational assessments.

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