MONETT, Mo., March 30, 2011 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of computer systems and electronic payment solutions primarily for financial services organizations, today formally announced the availability of My NetTeller, its solution that enables accountholders to create customized dashboard-style landing pages of their most commonly used online banking functions. The company also provided an update on its ongoing success with OurCashFlow™, the online financial management (OFM) solution that is fully integrated with NetTeller Online Banking™ platform.
My NetTeller enables accountholders to fully customize their online banking environment by selecting the functionality they want to see when they log in. Accountholders simply drag and drop widgets to create a dashboard-style view of online banking features such as funds transfers, electronic bill payments, and transaction downloads. The ability to place frequently used functions in a more accessible and obvious location simplifies site navigation and makes the online banking experience more efficient, convenient, and intuitive for each user.
Pete Hopkins, general manager of Internet Solutions, said, "One of the fundamental benefits of online banking is empowering accountholders with self-sufficiency and more control over their finances. The ability to fully customize the online banking experience puts another level of control in the hands of accountholders and strengthens their banking relationships. This single, configurable user interface comingles Internet banking offerings, creates personalized online banking landing pages, and optimizes the flexibility and usability of the online channel."
According to Greg Bixby, chief technology officer for Michigan-based Capitol Bancorp, Ltd, "With all the material enhancements, including the new look and feel of My NetTeller, the flexibility of widgets, and the recent integration of a sophisticated OFM solution, NetTeller competes head-to-head with the best-of-breed solutions on the market today. In fact, My NetTeller has made such dramatic improvements in the user experience that many of our customers think we have upgraded to a new, state-of-the-art online banking platform. NetTeller also provides the key benefit of total integration with our core system and other electronic products we have deployed. The common user interface between NetTeller and the goDough® mobile banking system is fantastic and enables us to provide a consistent user experience across these customer-facing channels. NetTeller is strategically evolving into an innovative and comprehensive suite of fully integrated, electronic solutions that can quickly and easily be deployed."
Bill Froehlich, technology manager for Wyoming-based UniWyo Federal Credit Union, said, "NetTeller was a huge leap forward from the previous Internet banking products we used based on the advanced functionality, the sophisticated user interface, and the operational control it provides for our credit union. NetTeller is the Internet banking product we were waiting for, and now with the launch of My NetTeller, our Internet banking platform provides the highly personalized online banking experience today's consumers expect from their financial institution."
Darren Crossett, senior vice president of New York-based Beacon Federal, said, "We introduced the NetTeller platform in 2009. Since then, our user base has grown to approximately 11,600 customers who generate more than 200,000 logins each month. We continue to be very pleased with the NetTeller suite of products because it supports our strategic plan to provide our customers with leading-edge electronic services. NetTeller provides a single point of access to complete financial management and the flexibility, ease-of-use, convenience, and security consumers expect today."
Since My NetTeller was introduced in August 2010, it has been implemented by 125 financial institutions and is now supporting more than 3,500 end-users.
OurCashFlow is the online financial management (OFM) solution available through Jack Henry & Associates' strategic partnership with Lodo Software, Inc. OFM transforms financial institutions' websites into financial management hubs that enable consumers and small businesses to access and manage their finances in consolidated, easy-to-use dashboards. OurCashFlow automatically categorizes financial transactions; supports internal and external account aggregation; tracks budgets, spending habits, and savings goals; and generates user-defined alerts. OurCashFlow is fully integrated with Jack Henry & Associates' NetTeller Online Banking solution and is seamlessly accessible to users from a dedicated tab within NetTeller.
According to Hopkins, "We expect there will be an ongoing and growing demand for our OFM solution based on the tangible benefits it generates for both financial institutions and accountholders. OFM empowers accountholders with financial control, sophisticated financial management tools, and opportunities to reduce overdraft fees and interest. OFM empowers banks with opportunities to grow deposits, increase the profitability of their online channel, improve customer retention and acquisition, and enhance their competitive position."
Froehlich added, "With the addition of the online financial management product to NetTeller, our Internet banking solutions now have the 'stickiness' we were looking for. Once members begin using the OFM solution, we're confident it will become a key financial management tool and they won't want to manage their money anywhere else. Jack Henry & Associates also priced the OFM solution in way that enabled us to offer it to all of our members for free, and they are amazed that they can manage their money, set financial goals, create budgets, and aggregate their internal and external accounts at absolutely no cost to them."
Since the availability of OurCashFlow was announced in July 2010, it has been purchased by 13 financial institutions and is now supporting more than 200 end-users.
Tony Wormington, president of Jack Henry & Associates, concluded, "Today, consumers and small businesses need to manage their finances more efficiently and effectively, and they are expecting their financial institutions to provide the tools to help them do so. My NetTeller and OurCashFlow provide the easy-to-use, fully featured, and proven tools accountholders need for real-time financial management and highly personalized banking experiences. We believe My NetTeller and OurCashFlow are essential additions to our Internet banking platform and to our clients' online offerings."
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions 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.