Source: Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking division announced today that Sonora Bank has selected its SilverLake System core processing platform to provide enterprise-wide automation.
This Texas-based bank, which has more than $336 million in assets, has successfully implemented SilverLake through Jack Henry Banking's outsourced offering, JHA OutLink Processing Services™.
According to Pat Holt, Sonora Bank's executive vice president and CFO, "Our bank has been in business since 1900 and the one component of our evolving business strategy that has never changed is our fundamental dedication to providing exceptional customer service and offering every customer a highly individualized service experience. Our focus on continually enhancing the service levels we provide; consistently offering highly competitive, contemporary financial products; and optimizing our growth opportunities motivated us to find a robust technology platform to support our long-term requirements. During our 12-month due diligence process, which included looking at a lot of software and speaking to a lot of existing users, we were convinced SilverLake has the functionality and flexibility we need, and Jack Henry Banking provides the service levels and partnership approach we expect. Every Jack Henry Banking client we spoke to was very satisfied with the product and service quality they receive and validated the results of our evaluation."
Sonora Bank also elected to replace its long-time in-house operations with an outsourced relationship with Jack Henry Banking. Outsourcing information and transaction processing enables banks of all sizes to strategically focus on the business of banking rather than on managing complex data centers and dynamic technology. Outsourcing also provides more predictable operating costs; access to integrated complementary products and services without significant initial capital expenditures; and the flexibility and scalability to more effectively and efficiently evolve their operational infrastructures to support business, customer, and market requirements.
Stan Viner, general manager of sales for Jack Henry Banking, said, "No bank makes a Jack Henry decision without contacting our existing clients for candid discussions about their day-to-day, real world experience with our product quality and functionality, and our service commitment and consistency. Sonora Bank conducted a thorough evaluation of the core systems available today and the companies behind them. And like every bank we add to our client roster, our existing clients' endorsements of our products, service, and the fundamental way we do business were key factors in Sonora Bank's technology decision. Having clients willing to host site visits and take reference calls is one of the single most important and impactful reasons our roster of community and mid-tier banks continues to grow with progressive banks like this one."