Camden National Bank Outsources its Core and Expands Jack Henry Relationship to Support Demands for Growth, Innovation

$4.1 billion bank achieves tighter integration, enhanced scalability for customer-centric banking services

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Dec 11, 2018, 08:00 ET

MONETT, Mo., Dec. 11, 2018 /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 Camden National Bank has made several strategic technology decisions to strengthen its infrastructure as the bank grows and evolves to meet the needs of its customers.

The bank has migrated its SilverLake System^® to an outsourced environment, immediately gaining a higher level of technical expertise in supporting large core operations. Using Jack Henry's specialized, skilled resources to host the core allows Camden National Bank to focus internal resources on supporting its growing business lines. Flexibility and scale were also important drivers in the move to outsource, as the bank would otherwise need to continually invest in a larger server environment to accommodate both organic and acquired growth.

Dan Swindler, director of support services at Camden National Bank, said, "Jack Henry offers an unparalleled level of security and resiliency in its facilities. Its demonstrated proficiency in business continuity, system reliability and uptime performance gives us the confidence that we will always be there for our customers, especially when they need us most."

Jack Henry is hosting Camden National Bank's core as well as a number of other complementary solutions, all part of the bank's investment in its customers, branches and overall digital strategy. This includes call center services for after hours and weekend support, making this Maine-based bank the first and only financial institution in the state to currently offer a 24/7 call center. Camden National Bank has also enlisted Jack Henry for a new account opening platform, eSign functionality and enhanced CRM capabilities that offer single access across applications to support all of a customer's activity.

Swindler added, "Jack Henry's SilverLake System allows us to customize our experience with the core and have tighter integration across multiple platforms as needed, meaning a more cohesive and personal experience for customers."

Stacey Zengel, vice president of Jack Henry & Associates and president of Jack Henry Banking, said, "Camden National Bank is investing in its technology infrastructure to remove any barriers to having a customer-centric environment. Deploying the SilverLake platform through an outsourced delivery channel will offer the levels of flexibility and integration that the bank needs to enhance the customer experience and streamline operations. We are proud to provide Camden National Bank with sophisticated solutions that help them meet the needs of their customers as they continue to grow and evolve."

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 1,000 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 more than 9,000 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.