MONETT, Mo., Aug. 16, 2011 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, today announced that Castle Rock Bank has selected Jack Henry Banking's CIF 20/20® core processing system to provide enterprise-wide automation. This Colorado-based bank, which has more than $103 million in assets, will implement CIF 20/20 through Jack Henry Banking's outsourced offering.
According to Pam Jenkins, vice president of Castle Rock Bank, "After we made the decision to find and implement a new fully integrated technology platform that can support our long-term business and operational goals, Jack Henry Banking quickly demonstrated its ability to meet our evolving processing requirements with CIF 20/20 and its integrated complementary solutions. Jack Henry Banking's ability to provide our total technology solution enables us to replace interfaced third-party complementary solutions with all the fully integrated complementary solutions we need to aggressively and successfully compete. Our bank and Jack Henry Banking share a similar service culture and the endorsements of other banks automated by CIF 20/20 also validated our opinions of how Jack Henry Banking does business and serves its customers."
CIF 20/20 is automating more than 700 banks, making it the most widely used IBM® Power™ system-based core processing solution in the community bank sector. CIF 20/20 supports growth-focused, service-oriented banks by integrating parameter-driven core functionality with more than 70 complementary products and services. CIF 20/20's browser user interface, open architecture and relational database technology, ability to support both in-house and outsourced operating environments, and scalable hardware platform maximize operating flexibility and seamlessly support banks' near- and long-term technology requirements.
Stan Viner, general manager of sales for Jack Henry Banking, said, "We are confident that CIF 20/20 provides the functionality and flexibility Castle Rock Bank expects to gain with a new core system. We welcome this bank to our client roster and look forward to providing the business solutions it needs to attract and support today's convenience-driven consumers, to continually improve its performance, and to successfully compete in today's business environment."
In addition to CIF 20/20, Castle Rock Bank will initially implement an array of Jack Henry Banking's complementary solutions including NetTeller Online Banking™, Relationship Profitability Management™ (RPM), iPay™ electronic bill pay, goDough® mobile banking, Remote Deposit Capture™, Electronic Statements−Interactive™, and more.
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.