Georgia Bank & Trust Migrates from In-House Processing to Outsourcing - In-house mid-tier bank elects to migrate to outsourcing to more effectively and efficiently execute and optimize its proven business strategy -
MONETT, Mo., June 26, 2014 /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 Augusta-based Georgia Bank & Trust, which has more than $1.7 billion in assets, has migrated from in-house processing to the company's outsourced offering, which is provided by JHA OutLink Processing Services™.
According to Ron Thigpen, president and chief operating officer of Georgia Bank & Trust, "We respect the role that Jack Henry Banking's technology plays in our ability to provide high-quality financial products and personalized service. After thoroughly evaluating opportunities to more effectively and efficiently execute and optimize our business strategy, we made the strategic decision to migrate to Jack Henry Banking's SilverLake-based outsourced offering. This change in our operating environment enables our staff to dedicate more time to customer care and the business of banking since we no longer have to manage a complex data center, evolving technology, and enterprise-wide business continuity planning and disaster recovery. Our operating costs are now much more predictable, we can implement additional complementary solutions without the up-front capital expenditures required for in-house installations, and we no longer need an extensive and skilled data center staff. We have access to the same robust functionality we had in-house and to a sophisticated and secure processing infrastructure no bank could replicate on its own. Considering Jack Henry Banking is supporting more than 600 outsourced banks, we were very comfortable with our decision to entrust them with our mission-critical information and transaction processing and overall technology management. Outsourcing simply makes our bank more flexible and scalable, and expedites our response to customer, market, and competitive demands."
Stan Viner, general manager of sales for Jack Henry Banking, said, "Georgia Bank & Trust joins the growing list of Jack Henry Banking in-house clients that made the same strategic decision to outsource their information and transaction processing to JHA OutLink Processing Services. During that same time period, 90 percent of the banks that selected one of Jack Henry Banking's three core systems – SilverLake System®, CIF 20/20®, and Core Director® – to replace a competitive alternative also selected our outsourced delivery. Today, diverse banks ranging from small community banks to multibillion dollar mid-tier institutions are leveraging our highly customized outsourcing services to support their dynamic business strategies, processing environments, and product and service offerings without the resident resources or capital expenditures required to operate and manage in-house operations."
JHA OutLink Processing Services has a national presence that includes a network of three data centers, four image-enabled item processing centers, and strategically located training centers and disaster recovery hot sites.
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 mid-tier institutions. Jack Henry Banking currently serves more than 1,300 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 computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. 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