Fifth District Savings deploys Jack Henry core banking platform

Source: Jack Henry

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 Fifth District Savings Bank has selected Jack Henry Banking's SilverLake core processing system to provide enterprise-wide automation.

This Louisiana-based bank, which has more than $376 million in assets, has implemented SilverLake through Jack Henry Banking's outsourced offering.

According to Ashley Graffagnini, service bureau coordinator for Fifth District Savings Bank, "The business of banking has experienced unprecedented change during the past few years. And considering that technology, the regulatory environment, and customer expectations will continue to create more inevitable change, we knew we needed a state-of-the-art technology platform to effectively and efficiently respond. After an extensive evaluation that lasted almost 12 months, we decided SilverLake has the core functionality to deliver highly competitive financial products and services to our markets more quickly, to automate numerous manual processes, and to empower our bankers with intuitive, user-friendly business tools. The level of integration between SilverLake and the complementary solutions that Jack Henry Banking provides also enabled us to eliminate numerous third-party products and interfaces. Now, after a smooth conversion and implementation process and some day-to-day experience with SilverLake and its integrated complementary solutions, we are realizing benefits that clearly justify our decision to implement a new technology platform."

Stan Viner, general manager of sales for Jack Henry Banking, said, "One of our fundamental goals is to be a bank's long-term technology partner by providing high quality solutions that leverage emerging technologies and service levels that exceed their expectations. We are excited about the opportunity to support Fifth District Savings Bank's near- and long-term technology needs with a flexible, feature-rich core system and fully integrated complementary solutions. We are confident this technology platform can help the bank respond to evolving business strategies, new growth opportunities and industry trends, dynamic customer and market demands, and specific operational issusssues with proven solutions. We were impressed with the time and effort these bankers invested in the evaluation process, the proactive role they played in the conversion and implementation process, and the command they have of the functionality we provide."

In addition to SilverLake, Fifth District Savings Bank has initially implemented an array of Jack Henry Banking's complementary solutions including StreamLine Platform Automation®-Deposits™; StreamLine Platform Automation®-Loans™; Vertex Teller Automation System™; Vertex Teller Capture™; components of the jhaPassPort™ ATM and debit card transaction processing platform; Electronic Statements−Interactive™; InTouch Voice Response®; Cognos 8 BI™ business intelligence and enterprise reporting; Yellow Hammer BSA™; components of the Synergy™ Enterprise Content Management (ECM) solution; Regulatory Reporting Solutions™; and jXchange™ for open connectivity with third-party products.

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