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 today announced that Beacon Community Bank has selected the SilverLake System
for core processing, joining four other de novo banks that selected Jack Henry Banking during 2017.
U.S. bank openings for 2017 more than doubled the number of new banks opening between 2011 and 2016 combined. As these institutions get their start, human capital is limited and early vendor decisions are critical. Beacon Community Bank surveyed a number of solution providers looking for a partner who could provide all of the feature functionality, flexibility, and processing power that the bank wanted without heavy third-party integrations.
Craig Johnson, chief operating officer for the Charleston-based de novo, said, “Jack Henry Banking offered the most complete suite of offerings that met our bank’s requirements for form and functionality. The Jack Henry brand is regarded for bringing superior products to market that are well integrated and that work the way they should. That reputation, coupled with the highest marks for service and customer support, demonstrates the blend of culture and technology that we were seeking in a partner.”
Beacon Community Bank, which opened in January, deployed the SilverLake System in an outsourced environment via JHA OutLink Processing Services™ (JHA OPS) and its entire IT infrastructure is supported by Gladiator Hosted Network Solutions™, a secure cloud computing environment for outsourcing all IT management and maintenance. The bank is leveraging Jack Henry Banking to support its digital initiatives as well.
Johnson noted that the combination of the Branch Anywhere™ enterprise mobility platform with Banno Mobile™ and NetTeller Online Banking™ provides the type of mobility needed for both the bank’s customers and employees – to be banked or do banking wherever and however it’s preferred. “The bank market has been heavily consolidated, which in turn has decreased customer service levels. Bankers have allowed softer features to slip away – like answering the phone with the knowledge of who is calling and some insights into the banking relationship – but we’re planning to change that. We’re going to do community banking right, powered by the technology of today and the future.”
Stacey Zengel, president of Jack Henry Banking, added, “This past year marked an exciting turning point for new bank activity. Jack Henry Banking is being trusted by Beacon Community Bank and several of its peer de novos to give them their start, and we do not take that lightly. We are enthusiastic about the opportunity to partner with Beacon Community Bank and other emerging institutions to provide them with the technology and tools to grow and effectively serve their respective markets.”