MONETT, Mo., Jan. 7, 2014 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of technology solutions and payment processing services primarily for financial services organizations, announced today that it will provide its financial institution clients with the ability to send and receive international payments via American Express' FX International Payments service. The DirectLine International™ solution from Jack Henry & Associates now includes access to FX International Payments' competitive foreign exchange (FX) rates and fees, dedicated customer service, and straight through processing of payments.
With the expansion of global trade among businesses of all sizes, financial institutions are facing increased pressure to offer efficient and reliable cross-border payment services. In response, Jack Henry & Associates elected to collaborate with American Express and provide its financial institution clients with access to this automated global payments service.
According to Lin Thomason, information services director for Missouri-based Great Southern Bank, "DirectLine International has provided a new level of sophisticated automation that has materially increased our operating efficiencies and reduced the staff and time requirements for wire operations. DirectLine International has eliminated the vast majority of manual entries and memo posts, and automated wire-related fees, wire settlement, and analysis billing. It enables OFAC custom checks to be run simultaneous with the American Express OFAC checks, which eliminates the need to key wires manually; and the payee creation function supports faster entry of repetitive arrangements. The integration of DirectLine International with our core system streamlines the entire wire process and our ability to quickly research wires through report capture and access to core history and queries. And as we have come to expect, the JHA installation and support teams have been extremely responsive to our needs."
According to Brett Weinhouse, vice president and general manager of FX International Payments, Americas for American Express, "Our collaboration with Jack Henry & Associates strategically expands its extensive payments offering with a reliable and trusted solution for international payment processing. Together, we can provide greater value and improved efficiency for Jack Henry & Associates' clients."
Tony Wormington, president of Jack Henry & Associates, said, "Payment processing is an important and growing segment of our business and we plan to continually enhance the value and capabilities we provide with new, industry-driven features and functionality. We are excited about the opportunity to work with American Express as our international payments provider and to offer our clients a fully integrated international payments solution."
FX International Payments will initially be integrated with Jack Henry & Associates' SilverLake System®, the highly customizable, commercial-focused core banking system. FX International Payments will eventually be integrated with Jack Henry & Associates' CIF 20/20® and Core Director® core systems as well.
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 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community 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 best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. 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