MONETT, Mo., April 11, 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 the SilverLake System® received Celent's XCelent Award for functionality. The SilverLake System is the commercial-focused core processing system currently automating approximately 425 banks ranging from community to multi-billion dollar, mid-tier banks.
Celent's XCelent Awards are intended to help financial institutions and technology providers stay abreast of industry trends by evaluating the dynamic vendor marketplace and honoring best-of-breed technology providers. The commercial-focused, highly customizable SilverLake System received top honors based on advanced technology, breadth of functionality, customer base, and depth of client services.
According to Bart Narter, senior vice president of Celent's Banking Group and creator of the awards, "While Celent has always evaluated service and technology providers to the financial services industry with great rigor we have never recognized providers that are performing better than their peers. The XCelent Awards allow providers to publically acknowledge their excellent performance."
Scott Spain, Jack Henry Banking's general manager of core solutions, said, "We consider the contemporary and integrated functionality of our core and complementary solutions; our commitment to incorporate proven new technologies; our large and loyal client base; and our commitment to exceed our clients' service-related expectations as key tenets of success. So it's extremely rewarding to have Celent thoroughly evaluate the core solutions available today and the companies that provide them, and validate our position in the market with an XCelent Award. We consider this award as an important endorsement of the quality of our products and the way we do business."
The SilverLake System provides highly enterprise-wide automation designed for commercial-focused banks ranging from de novo to multi-billion dollar, mid-tier institutions. Approximately 425 banks, including more than 20 percent of the domestic mid-tier banks with assets ranging from $1 billion to $20 billion, have installed SilverLake in-house or implemented the system through Jack Henry Banking's outsourced offering. Banks can fully customize the IBM® Power™ system-based platform to support their unique operational requirements or the system can be implemented as an off-the-shelf outsourced solution using an expedited and streamlined implementation process. SilverLake is fully integrated with approximately 100 complementary solutions.
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.