MONETT, Mo., June 26, 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 First Command Bank has selected its SilverLake System® core processing system to provide enterprise-wide automation. This Texas-based bank will implement SilverLake through Jack Henry Banking's outsourced offering.
According to David White, president of First Command Bank, "Our bank is part of the First Command Financial Services holding company which was established in 1958 to improve the financial well-being of America's professional military families. We currently serve more than 120,000 customers with traditional banking services as well as financial planning, investments, and insurance. We have more than $650 million in bank assets, $16 billion in managed assets, and $50 billion in insurance coverage. Since most of our bank customers are serving our country from military facilities located all over the world, the majority of our financial products and services are delivered online. After carefully evaluating our core functionality we knew we needed a state-of-the-art technology platform to meet our strategic goals and to provide the level of service our customers deserve and expect."
Sherry Sitton, executive vice president of First Command Bank said, "We launched a highly technical, enterprise-wide evaluation of numerous core banking systems. Our goal was to find a system with deep functionality that we could customize to fit our exact and evolving requirements. Full integration of the traditional banking applications and the ability to leverage data residing in the core banking system to support the holding company's securities and insurance divisions was another key requirement. And we wanted a system backed by outstanding service levels, aggressive R&D, and a true technology partner not just a vendor. After an evaluation that lasted for more than two years, our team was convinced that SilverLake is the right system for our bank and our customers. Our decision was also heavily influenced by the satisfied SilverLake clients we visited and the tenure, experience, and dedication of the company's associates that were involved in our evaluation process. We are very excited about the significant new functionality that SilverLake and Jack Henry Banking's complementary solutions will put at our fingertips."
Stan Viner, general manager of sales for Jack Henry Banking, said, "This bank's due diligence was one of the most highly technical evaluations we have participated in to-date. First Command Bank has a very capable, experienced, and forward-thinking technical staff that took the job of finding the best solution for their exact requirements extremely seriously. They constantly challenged us to demonstrate that our software has the functionality and flexibility to support their progressive business strategy and long-term success. Based on the depth and breadth First Command Bank's evaluation, we consider this addition to our client roster an especially strong and rewarding endorsement of SilverLake and Jack Henry Banking."
In addition to SilverLake, First Command Bank will initially implement an array of Jack Henry Banking's complementary solutions including Vertex Teller Automation System™; Vertex Teller Capture™; Synapsys® sales, marketing, and customer service solution; Opening Act™ online account opening; Remote Deposit Complete™ (RDC) remote deposit capture solution; the jhaKnow data warehousing, analysis, and reporting platform; components of the jhaPassPort™ ATM and debit card transaction processing platform; the DirectLine® Wires™ real-time wire transfer service; components of the Synergy™ Enterprise Content Management (ECM) solution; PROFITstar® Classic™ asset/liability management and budgeting solutions; 4|sight™ Item Imaging; and jXchange™ for open connectivity with third-party products.
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 11,900 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.