MONETT, Mo., June 14, 2016 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its Jack Henry Banking® division announced the successful conversion of Georgia-based Bank of Newington and Wisconsin-based Cleveland State Bank to the Core Director® platform.
Both banks decided to replace their previous core systems and multiple third-party vendor applications with Core Director for a more seamless, integrated approach – one that improves the user experience by expediting and simplifying the banking process. Core Director is a Windows-based system that supports progressive, growing community and multi-billion dollar banks with the industry's most cost-efficient operating platform.
Bank of Newington has grown more than 30 percent in the last two years and plans to continue its aggressive growth cycle by entering new markets. To support its growth, the bank completed a major IT renovation and needed a core platform that could support its modern technology.
Tripp Sheppard, vice president and CFO of Bank of Newington, stated, "Core Director is much more intuitive and better at anticipating what we want to do; we no longer need to know code to run our core platform. Plus, our previous core was not integrating well with today's features and functionality, such as mobile capture. With Jack Henry Banking, we can bring everything under one roof for a streamlined and efficient user experience."
Cleveland State Bank was also battling limitations from its previous core provider. The bank wanted a cost-effective system that would create efficiencies and support its long-term goals of seven to 10 percent organic growth annually, doubling in size within the next decade. Cleveland State Bank selected Core Director, along with Branch AnywhereTM, Banno MobileTM and other complementary solutions that offer a seamless user experience between digital and personal services.
Timothy Schueler, president and CEO of Cleveland State Bank, commented, "Core Director allows us to reset our goals to what is relevant today and for the future. Now we are able to offer a vibrant mobile channel and expand our overall presence in the marketplace. Jack Henry Banking has been an excellent partner from the very beginning. Their philosophy to do the right thing, do whatever it takes, and have fun, was apparent throughout our various site visits and meetings together."
Stacey Zengel, president of Jack Henry Banking, added, "Bank of Newington and Cleveland State Bank are excellent examples of institutions that are leveraging modern technology infrastructures to make banking easy again. Core Director is designed to provide banks with an intuitive, highly integrated experience so that they can maximize value and efficiencies. Jack Henry Banking is committed to supporting Core Director with the R&D and complementary solutions that will continue to help power bankers' future roadmaps."
More than 230 banks leverage Jack Henry Banking's Core Director system. It integrates with more than 110 complementary products and services that were designed to meet the needs of community and multi-billion dollar banks.
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 1,200 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 & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve almost 10,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. 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.