Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, today announced that The Citizens Bank has selected Jack Henry Banking's SilverLake core processing system to provide enterprise-wide automation.
This Batesville, Arkansas-based bank, which has more than $530 million in assets, will implement SilverLake through Jack Henry Banking's outsourced offering.
According to John Dews, president of The Citizens Bank, "Our bank is strategically poised for growth but we needed a leading-edge technology platform to support our near- and long-term growth goals. We launched a thorough, 12-month evaluation of technology platforms and we discovered that SilverLake and Jack Henry Banking's extensive suite of complementary solutions provide the functionality we need to power a more sophisticated and competitive suite of financial products and services. SilverLake offers us the deep integration we need to improve our operating efficiencies, and materially reduce the number of third-party interfaces we have to maintain. We believe moving to the forefront of technology will enable us to better serve our customers, expand our existing customer relationships through cross sales, increase our share of the markets we serve, and compete more aggressively and successfully."
Stan Viner, general manager of sales for Jack Henry Banking, said, "The bankers driving The Citizens Bank clearly understand the role that technology plays in their ability to optimize their bank's business strategy. With SilverLake as its technology platform, the bank can capitalize on sound business opportunities and emerging industry trends, respond to dynamic customer and market demands, resolve operational issues and inefficiencies, and improve speed-to-market with competitive offerings. We respect the time and effort this bank invested in its evaluation process and look forward to a long and successful technology partnership."
In addition to SilverLake, The Citizens Bank will initially implement an array of Jack Henry Banking's complementary solutions including StreamLine Platform Automation-Deposits; OnBoard Loans; InTouch Voice Response; components of the jhaPassPort-ATM and debit card transaction processing platform; Cognos 8 BI business intelligence and enterprise reporting; BIG Rewards customer rewards and loyalty; Yellow Hammer Fraud Detective; Yellow Hammer BSA; Margin Maximizer Suite; Relationship Profitability Management (RPM); PROFITstar Classic-asset/liability management and budgeting; components of the Synergy Enterprise Content Management (ECM) solution; and jXchange for open connectivity with third-party products.