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Univest Partners with Jack Henry to Improve Digital Experiences

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Modern digital capabilities allow regional bank to provide a superior customer experience while gaining efficiency

MONETT, Mo., April 1, 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 $6.3 billion-asset Univest Bank and Trust Co. has expanded its partnership with Jack Henry to include a full suite of digital offerings, positioning the bank for the future.

Univest has a longstanding partnership with Jack Henry as its core provider and selected the Banno Digital Platform™ to provide a consistent experience regardless of channel, delivering both simplicity and security to its customers. The bank combines modern technology with personal service through the Banno Conversations feature, which allows customers to connect with live, local representatives inside the digital channel at their moment of need. Today, about 40% of Univest's customer support interactions are securely managed and resolved through Conversations which has created new efficiencies. And, with Jack Henry's open infrastructure, Univest is able to seamlessly integrate additional vendors of its choice.

Eric Conner, senior executive vice president and chief information officer of Univest, commented, "Digital transformation has significantly accelerated over the past year; however, this should not mean an erosion in human connection. With the Banno Digital Platform, we are able to maintain the human touch that sets our bank apart, while delivering the modern digital functionality and speed today's customers expect. Plus, Jack Henry's open approach and APIs make it easier than ever to build an experience that differentiates our bank. We believe that Banno is the epicenter of Univest's customer experience moving forward."

Other new digital capabilities the bank added include JHA PayCenter™, which seamlessly connects Univest to real-time payment networks to provide person-to-person payments, and JHA OpenAnywhere™, a digital account opening tool. JHA OpenAnywhere allows customers and prospects to securely open new accounts in minutes and start banking immediately. In the first five months, Univest was able to increase new consumer accounts by more than 10% annualized with the platform, increasing efficiencies in the process while meeting customers where they want to bank. Conner added, "These digital tools and capabilities allowed us to maintain a seamless customer experience during the pandemic, ensuring that our customers continued to have uninterrupted, convenient and secure access to their finances."

Stacey Zengel, senior vice president of Jack Henry and president of Jack Henry Banking, stated, "Univest is a progressive regional financial institution that understands that while the future is digital, the importance of human relationships and connections will never fade. By leveraging our open ecosystem and digitally optimized approach, the bank is keeping at the forefront of innovation and providing an intuitive, convenient experience for its customers."

About Univest Financial Corporation

Univest Financial Corporation (UVSP), including its wholly owned subsidiary Univest Bank and Trust Co., Member FDIC, has approximately $6.3 billion in assets and $4.1 billion in assets under management and supervision through its Wealth Management lines of business at December 31, 2020. Headquartered in Souderton, Pa. and founded in 1876, the Corporation and its subsidiaries provide a full range of financial solutions for individuals, businesses, municipalities and nonprofit organizations primarily in the Mid-Atlantic Region. Univest delivers these services through a network of more than 50 offices in southeastern and central Pennsylvania as well as in New Jersey and Maryland and online at www.univest.net.

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 regional 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.

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SOURCE Jack Henry & Associates, Inc.