Jack Henry & Associates (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that Wausau, Wisconsin-based Peoples State Bank has selected Jack Henry Banking's SilverLake core processing system to provide enterprise-wide automation.
This bank, which has approximately $600 million in assets, will implement SilverLake through Jack Henry Banking's outsourced offering.
According to Peter Knitt, president and CEO of Peoples State Bank, "We consider technology as one of the key components of our bank's ability to meet our business goals and provide an exceptional customer experience. After thoroughly evaluating our current in-house system, we began investigating the leading technology providers and platforms to enhance our capabilities. We narrowed our search to two vendors and participated in multiple product presentations, contacted a long list of references, and visited banks using the respective technology solutions and the companies' headquarters. Jack Henry differentiated itself throughout the evaluation, and the banks utilizing their technology validated the company's product and service claims."
Leif Christianson, vice president and chief information officer for Peoples State Bank, commented, "We are confident Jack Henry provides the functionality, the scalability, and the integrated add-on products and services to streamline many day-to-day functions. We are excited about establishing a technology partnership with a company driven by a commitment to provide outstanding customer service, and the opportunity to focus exclusively on the business of banking by outsourcing our information and transaction processing to Jack Henry. Jack Henry's organizational culture was a great fit with Peoples State Bank and their approach to service truly embodies the spirit of community banking."
Stan Viner, general manager of sales for Jack Henry & Associates, said, "SilverLake is a best-of-breed core system that maximizes banks' operating flexibility and long-term technology investments with customizable core functionality, integration with more than 100 complementary solutions, open architecture, the ability to support both in-house and outsourced operating environments, and th and the scalable IBM Power hardware platform. Our OutLink Data CentersTM enable banks to eliminate the capital expenditures required for in-house systems and the resources they need to operate in-house data centers, while providing ongoing access to advancing technology and our technology and security experts. We are confident that the move to a SilverLake-based, outsourced operation will enable Peoples State Bank to more effectively execute its business strategy and capitalize on the trends that are shaping the financial services industry, to better serve its customers, and to maximize operating efficiencies."
In addition to SilverLake, Peoples State Bank will initially implement an array of Jack Henry Banking's complementary solutions including the ArgoKeys DepositKeys account opening and administration solution, the Vertex Teller Automation System, the Synapsys sales force automation solution, NetTeller Online Banking, NetTeller Cash Management, the NetTeller Bill Pay electronic bill payment solution, the goDough mobile banking solution, the Electronic Statements-Interactive solution, the InTouch Voice Response telephone banking solution, the Cognos 8 BI report generation solution, the Yellow Hammer BSA compliance and risk mitigation solution, the Bounce Protection overdraft privilege solution, the 4|sight Item Imaging platform, components of the modular Synergy Enterprise Content Management (ECM) solution, the jhaPassPort ATM and debit card solutions, the Intellix Consulting operational assessment service, and the ECS Document Capture Service which provides turnkey back file document scanning.