Bank migrates from CIF 20/20 core for additional functionality
MONETT, Mo., June 24, 2021 /PRNewswire/ -- 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 $2.5 billion-asset The National Bank of Indianapolis has migrated to the SilverLake System® core to meet growing commercial and small business demand.
The National Bank of Indianapolis has experienced notable growth, and wanted to add more automation and streamline back-office processes to drive efficiencies. Because the bank found significant value in Jack Henry's private cloud environment, it decided to keep this model and move to the SilverLake System core, beginning the migration at the pandemic's onset. The National Bank of Indianapolis became Jack Henry's first remote core migration in early 2020.
Mark Bruin, president and CEO of The National Bank of Indianapolis, explained, "Migrations are a major commitment that require dedicated time and effort, which is why it's so important to have a partner that is transparent about the process and works well with your team. We've enjoyed a successful long-standing relationship with Jack Henry due to their commitment to our bank's needs and our cultural similarities, such as their service and commitment to employees and customers. We put our full trust in the process and people at Jack Henry as well as our own employees, making this remote migration one of our bank's biggest internal successes to date. We look forward to leveraging the expanded functionalities our core now supports as we continue to grow."
In addition to the new core, the bank also implemented the Banno Digital Platform™ to provide customers with more self-service options while maintaining personal service and human connections within the digital channel. Through the bank's core-integrated chat service, Banno Conversations, customers will have a secure and authenticated channel to chat live with a bank representative.
Bruin added, "We are not a mass-market bank; we are dedicated to making sure each customer has multiple points of contact at the bank to resolve their problems or needs through whichever channel they prefer. With Banno, we are providing modern digital tools that still support our high-touch approach to service. Being able to offer personal support at a customer's moment of need – whether that happens digitally or in-person – is a key competitive differentiator."
Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking, stated, "The National Bank of Indianapolis' migration was not only a major success for the bank, but it also helped establish a template for how we managed all of the remote core conversions that came after. With its new core, the bank will benefit from added efficiencies and automation that allow it to scale more easily to meet growing business demand. Forward-looking institutions like The National Bank of Indianapolis are finding that offering a strategic mix of modern technology and human connection delivers an improved customer experience while enhancing its competitive position."
About Jack Henry Banking
Jack Henry Banking®, a division of Jack Henry & Associates, Inc.®, is a leading provider of integrated computer systems for banks ranging from de novo to multi-billion-dollar institutions. Jack Henry Banking currently serves more than 1,000 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in cloud-based digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
SOURCE Jack Henry & Associates, Inc.