Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry.
Its ProfitStars® division today announced the addition of Margin Maximizer Interactive™ to the Independent Community Bankers of America® (ICBA) Preferred Service Provider program.
Margin Maximizer Interactive (MMi) is a customizable online tool which enables community banks to develop strategies that ensure the greatest possible net interest income. Loan scenarios generated by the tool prioritize customer relationships and reflect the value of the customer as a depositor at a bank, allowing the bank to offer competitive pricing linked to the customer's overall profitability. Rates are also influenced by the size of the loan and the potential credit risk. Utilizing this information to price loans consistently across multiple variables empowers banks to meet and exceed overall profitability objectives.
Garret Jammaron, assistant vice president for Alpine Bank in Rifle, Colo., said, "We have been using Margin Maximizer since 2009, and the more time goes by, the more loan types we price through the system. It allows us to see exactly what each loan and relationship is adding to the bottom line. We have also taken customer service to a different level by using relationship-based pricing. The solution enables us to take care of our best customers while also ensuring they are meeting the profitability standards we have set."
To ensure ease-of-use and maximum value to community banks, MMi features relationship-centric navigation, resulting in decision-making based on overall customer profitability. Customer filters and grouping options make it easy for users to manage their loan portfolios and allow fast visibility to information most valuable to each user. Critical management information may also be viewed in a dashboard setting.
"Pricing services can be a challenge for community banks as they strive to meet the wide variety of financial needs of their customers," said Dan Clancy, executive vice president of services at ICBA. "Margin Maximizer allows community bankers to quickly evaluate loans with respect to customer relationships and profitability objectives, allowing them to consistently offer competitive pricing that meets the bank's goals."
According to David Foss, president of ProfitStars, "We are again excited to further expand our relationship with the ICBA and are committed to meeting the critical business needs of member banks. Our Margin Maximizer Interactive solution utilizes proven methodologies that yield a high return on investment, improving profitability and expanding customer relationships. Community banks that want to outperform the industry norms when it comes to net interest margin, net interest income growth, and loan quality will find MMi a valuable addition."
Today's announcement adds Margin Maximizer Interactive to the remote deposit capture, remittance, small business lending, website design and hosting, and security services ProfitStars already provides ICBA member banks at exclusive discounted rates. Select ProfitStars solutions have been ICBA preferred services since 2005.