Sonora Bank Selects Jack Henry Banking to Provide Enterprise-Wide Automation - $336 million bank implements the SilverLake System through Jack Henry Banking's outsourced offering -
MONETT, Mo., May 6, 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 Sonora Bank has selected its SilverLake System® core processing platform to provide enterprise-wide automation. This Texas-based bank, which has more than $336 million in assets, has successfully implemented SilverLake through Jack Henry Banking's outsourced offering, JHA OutLink Processing Services™.
According to Pat Holt, Sonora Bank's executive vice president and CFO, "Our bank has been in business since 1900 and the one component of our evolving business strategy that has never changed is our fundamental dedication to providing exceptional customer service and offering every customer a highly individualized service experience. Our focus on continually enhancing the service levels we provide; consistently offering highly competitive, contemporary financial products; and optimizing our growth opportunities motivated us to find a robust technology platform to support our long-term requirements. During our 12-month due diligence process, which included looking at a lot of software and speaking to a lot of existing users, we were convinced SilverLake has the functionality and flexibility we need, and Jack Henry Banking provides the service levels and partnership approach we expect. Every Jack Henry Banking client we spoke to was very satisfied with the product and service quality they receive and validated the results of our evaluation."
Sonora Bank also elected to replace its long-time in-house operations with an outsourced relationship with Jack Henry Banking. Outsourcing information and transaction processing enables banks of all sizes to strategically focus on the business of banking rather than on managing complex data centers and dynamic technology. Outsourcing also provides more predictable operating costs; access to integrated complementary products and services without significant initial capital expenditures; and the flexibility and scalability to more effectively and efficiently evolve their operational infrastructures to support business, customer, and market requirements.
Stan Viner, general manager of sales for Jack Henry Banking, said, "No bank makes a Jack Henry decision without contacting our existing clients for candid discussions about their day-to-day, real world experience with our product quality and functionality, and our service commitment and consistency. Sonora Bank conducted a thorough evaluation of the core systems available today and the companies behind them. And like every bank we add to our client roster, our existing clients' endorsements of our products, service, and the fundamental way we do business were key factors in Sonora Bank's technology decision. Having clients willing to host site visits and take reference calls is one of the single most important and impactful reasons our roster of community and mid-tier banks continues to grow with progressive banks like this one."
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