MONETT, Mo., March 8, 2012 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for financial services organizations. Its iPay Technologies™ division announced today that Michigan-based Community Choice Credit Union has selected its Biz 2.0™ small business online bill pay platform.
Community Choice Credit Union places a high priority on its small business members and offers several products and services for their unique requirements. The credit union wanted to also provide these members with tools that can generate operational efficiencies and more effective cash flow management – two primary concerns for most small businesses. Biz 2.0 offers payments capabilities designed specifically for small businesses that are not traditionally part of consumer online bill pay solutions. These features include customizable user entitlements, accounts payable and accounts receivables functions, electronic invoicing, custom audit reports, and person-to-person (P2P) payments, all accessed through a single sign-on solution that is fully integrated with online banking platforms.
Dan Munro, senior vice president for Community Choice Credit Union, said, "Last year, the credit union identified our commitment to small business relationships as a key value proposition for banking with us. We wanted to fortify our product offering along with that commitment to ensure our goals were met for business growth and member service. By offering iPay's Biz 2.0, we are supporting small businesses with a robust solution to gain control over and satisfy many of their transactional requirements."
iPay's Biz 2.0 is nimble enough for businesses with monthly transactions ranging from 10 to several thousand. Post implementation, iPay offers each financial institution comprehensive training and marketing support to help optimize end-user awareness and maximize adoption. For Biz 2.0, this also means helping Community Choice Credit Union and other clients identify businesses using traditional consumer bill pay solutions that would realize greater material benefits by transitioning to the small business solution. iPay backs its payment solutions with a full service call center, branded for each credit union or bank client, to facilitate all frontline member/customer support.
According to Greg Adelson, group president of iPay Technologies, "Credit unions' penetration among small businesses is still fairly low, but that is rapidly changing as they recognize the opportunities residing in this lucrative market segment. Our Biz 2.0 solution is ideal for any credit union or bank looking for ways to strengthen their small business relationships by being a partner to enable future growth."
About iPay Technologies
iPay Technologies is a leading provider of online bill payment solutions that incorporate a sophisticated bill pay engine that easily integrates with any online banking platform; best-of-breed retail, small business, and person-to-person bill payment solutions; extensive payments expertise; and outstanding service. Through strategic partnerships with more than 50 providers of information processing and online banking solutions, iPay's turnkey, highly configurable electronic payments platform is supporting more than 3,700 banks and credit unions, including more than half of the nation's credit unions and approximately 40 percent of the nation's community banks that offer bill payment services. Additional information is available at www.ipaytechnologies.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 11,900 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.