ProfitStars Introduces RemitPlus Express for Simplified Remittance Processing
-- Hosted full-feature remittance solution boosts process efficiency, reduces operational costs --
MONETT, Mo., Nov. 15, 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. Its ProfitStars® division today announced a fully hosted version of its proven remittance solution, RemitPlus® Express™.
RemitPlus Express eliminates the need for multiple employees to manually sort, reconcile, process, endorse and post payments, significantly reducing labor costs as well as the potential for human error. All payment details can be easily accessed through a user-friendly browser, arming merchants with comprehensive information at their fingertips. The offering requires no software installation outside of scanner drivers, and provides financial institutions with a lower cost of entry compared to traditional remittance offerings. Plus, they gain comprehensive disaster recovery and failover support from ProfitStars.
Abel Castro is EVP and chief investment officer at Texas-based First Bank & Trust, an early adopter of RemitPlus Express. He stated, "With its ability to manage large volumes of checks coupled with an intuitive user interface, RemitPlus Express is ideal for any company that bills its customers on a recurring monthly basis. The solution has proven extremely useful to our business clients, as it allows them to easily post payments and avoid dual data entry. The rollout was seamless and by far has delivered more complete functionality than other remittance solutions available today."
NTS Communications, the leading provider of fiber-based communications solutions for both residential and business customers across Texas and Louisiana, implemented RemitPlus Express as a First Bank & Trust customer. Don Pittman is the EVP and chief financial officer of NTS Communications. He stated, "RemitPlus Express allows us to easily upload a file, scan it and then get it to our AR system which eliminates repetitive data entry and the need to physically store numerous files. Because we process thousands of payments every month, the time and cost savings this new system provides us will positively impact our bottom line. This solution also enables us to better serve our customers when they have inquiries about their billings. Our employees are able to instantly access the system to retrieve customer information to quickly and accurately answer any questions the customer may have."
Russ Bernthal, president of ProfitStars, said, "We are committed to bringing new hosted options to market as we see their ability to present cost-effective alternatives for our clients and their customers. RemitPlus Express extends even greater efficiencies and transparency to financial institutions' electronic remittance processes, reducing the resources and expense of posting recurring payments while also increasing on-time collections and cash flow."
RemitPlus Express users have immediate access to scanning, entry, balancing, depositing, reporting and exporting to virtually any billing system directly from their internet browser. The solution is core agnostic and currently supports more than 80 billing and accounting systems and can complete processing at up to 190 documents per minute.
About ProfitStars
As a diverse, global division of Jack Henry & Associates, Inc.® (JHA), ProfitStars® combines JHA's solid technology background with the latest breakthroughs in six performance-boosting solution groups – Financial Performance, Imaging, JHA Payment Solutions, Information Security & Risk Management, Retail Delivery, and Online & Mobile. Explore the power of ProfitStars-enhanced performance at www.profitstars.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 approximately 10,500 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.
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