Brookline Bank Selects Jack Henry Banking to Provide Enterprise-Wide Automation

MONETT, Mo., Jan. 5, 2012 /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 Brookline Bank has selected its SilverLake core processing system to provide enterprise-wide automation. This Massachusetts-based bank holding company will implement SilverLake and more than 13 of Jack Henry Banking's integrated complementary solutions, including the jhaPassPort™ ATM and debit card transaction processing platform and iPay Consumer Online Bill Pay™, through the company's outsourced offering.      

According to James Cosman, chief operations officer of Brookline Bank, "We recently acquired Ipswich National Bank and Bank RI which brings us to more than $4.8 billion in assets. We are now operating a three-bank holding company with three core platforms and dozens of third-party products. After thoroughly evaluating the functionality of our current systems, we were convinced that we need a common platform to support our current and planned technology requirements, provide leading-edge commercial functionality, and seamlessly support our long-term growth plans. We also want all the benefits of full integration, state-of-the-art CRM and Internet banking solutions, consolidated customer information across our three-bank enterprise, and an intuitive user experience. We retained a consulting firm and conducted an extensive evaluation that identified SilverLake as the best solution for our banks, our business strategies, and our customers. We believe that consolidating our operations with a robust core platform and the integrated complementary solutions Jack Henry Banking provides is a strategic component of our ongoing progress and performance."   

Stan Viner, general manager of sales for Jack Henry Banking™, said, "We believe Jack Henry Banking is uniquely positioned to support the long-term technology requirements of mid-tier banks. In fact, we believe a move to SilverLake can be a mid-tier bank's last conversion. Our ongoing success winning mid-tier clients can be attributed to several core competencies. SilverLake provides highly customizable, commercial-focused core functionality that banks can augment with more than 100 fully integrated complementary solutions. We provide proven conversions and implementations. And we have a company-wide commitment to provide service levels that exceed our clients' expectations. We welcome the opportunity to add Brookline Bank to our roster of mid-tier clients, which includes more than 20 percent of the banks with assets ranging from $1 to $20 billion. We look forward to providing the business tools this progressive bank needs to continually enhance its customer service and competitive position, and to improve its operating efficiencies and performance."

In addition to SilverLake, Brookline Bank will initially implement an array of Jack Henry Banking's complementary solutions including StreamLine Platform Automation® – Deposits™; StreamLine Platform Automation® – Loans; Vertex Teller Automation System™; Vertex Teller Capture™; components of the jhaPassPort™ ATM and debit card transaction processing platform; NetTeller Online Banking™; iPay Consumer Online Bill Pay™; goDough® mobile banking; Cognos 8 BI™ business intelligence and enterprise reporting; Synapsys® sales, marketing, and customer service solution; Yellow Hammer Fraud Detective™; Yellow Hammer BSA™; and components of the Synergy™ Enterprise Content Management (ECM) solution.

About Brookline Bank

Brookline Bank is a subsidiary of Brookline Bancorp, Inc. (Nasdaq: BRKL), and is headquartered in Brookline, Massachusetts. A full-service financial institution, Brookline Bank provides individuals and businesses with deposit and lending services, residential mortgages and home equity lending, commercial and CRE lending, cash management, merchant services, and access to investment services. Brookline Bank operates 20 branches in Greater Boston. For more information go to www.brooklinebank.com

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 approximately 1,500 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 financial services organizations. Its technology solutions serve more than 11,200 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking supports banks ranging from de novo 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 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. iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. 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, Inc.