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 Glenwood State Bank has expanded their relationship with Jack Henry & Associates, selecting the SilverLake System® to support their strategic growth goals with added efficiencies, high levels of integration, and advanced digital capabilities.
Glenwood State Bank is based in Glenwood, Minnesota and has $289 million in assets. When the executive management of the bank decided it was time for a core system evaluation, the bank recognized the need for a partner that was mobile-focused, sustainable, and committed to research and development. Glenwood State Bank already leveraged Banno Mobile™, and that positive experience with Jack Henry & Associates, combined with the company’s strong reputation and business longevity, prompted the bank to select the SilverLake System. The core platform’s added efficiencies and advanced integration capabilities will allow the bank to provide a better experience for both employees and customers.
Peter Nelson, president of Glenwood State Bank, stated, “Our bank is committed to making choices that will position us to succeed for years down the road. The SilverLake System’s openness and flexibility will allow us to continually improve the ways we connect with customers. At the same time, the system can reduce a lot of our previously manual tasks and provide new levels of efficiency that enable growth and a competitive stance. Our agreement with Jack Henry & Associates is a true partnership; they prioritize open communication and value our opinion, which is evident in the service we receive.”
Glenwood State Bank is also moving to Banno Online™ as part of their partnership expansion with Jack Henry & Associates. By selecting Jack Henry & Associates for both their core system and digital channels, the bank will enjoy tighter integration that will enhance their overall digital strategy. Nelson continued, “Banno Mobile has allowed us to more seamlessly serve and engage with customers via the mobile channel, and we look forward to extending that exceptional service online. With Banno, we can provide the experience that customers today expect, which made switching to Jack Henry & Associates for our full digital suite an easy decision.”
The bank chose to leverage jhaEnterprise Workflow™, an automation tool for multi-step business processes, to establish best practices across the institution and boost efficiencies. With this tool, the bank expects to deliver a more consistent experience for both customers and employees. By eliminating time-consuming, redundant manual tasks, the bank will be able to improve staff productivity and reduce operational costs.
Stacey Zengel, president of Jack Henry Banking, added, “Digital capabilities are a key differentiator for community banks, and Glenwood State Bank’s decision to rely on Jack Henry & Associates will allow them to better serve customers and set themselves apart. Their advancements will provide newfound efficiencies and the flexibility required to quickly respond to market changes.”
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