BillShrink's sophisticated search engine and transaction identification technology delivers these offerings through financial institutions' Internet banking websites and electronic statements.

This alliance positions Jack Henry & Associates to support the financial institutions using its NetTeller Online Banking platform and the online bill payment solutions offered by its iPay Technologies division, and ultimately those institutions' customers with BillShrink's transaction-based StatementRewards solution which consists of two components - purchase rewards and personalized bill analysis.

Purchase rewards are tailored to customers' existing shopping preferences as indicated by their recent transactions. BillShrink has worked with the country's leading national and local retailers to create an extensive network of valuable customer rewards. During online banking sessions, customers have the opportunity to view and redeem rewards from merchants and service providers within their trusted bank environment.

Personalized bill analysis uses BillShrink's proprietary technology to automatically review and make personalized money-saving recommendations on customers' largest recurring monthly bills such as wireless plans, TV service, and gas purchases. Customers can save an average of $1,000 annually by right-sizing their expenses to fit their needs.

Intuitive dashboards enable financial institutions to access detailed reports to show customer engagement, control the presentation of online rewards and money-saving recommendations on their websites, and allow promotions for merchants to be generated.

BillShrink's merchant network, which is the cornerstone of the StatementRewards platform, currently includes 93 of the top 100 national merchants, and new retailers are continually being added to its network.

According to Pete Hopkins, general manager of Internet Solutions for Jack Henry & Associates, "Partnering with BillShrink is a winning proposition for our company, our clients, their customers, and the participating merchants. StatementRewards is another integrated, innovative solution that further enhances, differentiates, and adds value to our online banking platform. StatementRewards generates a new, low risk revenue opportunity that can help our bank and credit union clients create consumer-friendly revenue to offset fee income eliminated by recent regulatory changes. Consumers can take advantage of discounts on the products and services they are already buying. And participating merchants can put their promotional messages and discount offers in front of highly targeted consumers. We looked at the marketplace and selected BillShrink based on its sophisticated technology, financial services experience, superior merchant base, and the flexible integration options that allowed us to take this offering to market quickly."

Bill Ready, president of iPay Technologies, said, "Integrating BillShrink's offering into our online bill payment solutions further demonstrates our fundamental goal to provide a one-stop payments platform to financial institutions and their end users that continually advances through the strategic integration of evolving online services. Our alliance with BillShrink is yet another example of how iPay's online bill payment solutions can drive revenue, profitability, and deeper customer relationships for the financial institutions that use our services."

Schwark Satyavolu, CEO and co-founder of BillShrink, said, "With StatementRewards, we've built an effective platform to deliver value to banks and credit unions, their customers and members, and merchants. Our solution delivers the most meaningful rewards and savings advice as it covers customers' most frequent transactions, as well as their largest monthly expenses. We do this by offering both relevant merchant discounts tailored to customers' purchase history and customized savings advice on large household bills. These two components can deliver as much as a thousand dollars in savings to consumers each year. We're excited to bring our merchant network and our savings technology to Jack Henry & Associates' clients."

StatementRewards is a next-generation customer loyalty solution that complements Jack Henry & Associates' BIG Rewards and jhaPassPort Extra Awards solutions. BIG Rewards enables banks to offer high-interest checking, cash-back, and merchandise incentives based on customers' entire banking relationships and transaction activity. jhaPassPort Extra Awards is a loyalty awards program based on credit, debit, and ATM transactions.

General availability of StatementRewards is expected during the second calendar quarter 2011 for all financial institutions using NetTeller Online Banking and iPay's online bill payment solutions. There is no charge for financial institutions that elect to offer StatementRewards. Institutions implementing the savings recommendations solution will enter into a revenue sharing agreement with Jack Henry & Associates and BillShrink.

Jack Henry & Associates will also support its financial institutions' clients that implement StatementRewards with customizable marketing materials and campaigns.