MONETT, Mo., Oct. 19, 2016 /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 ProfitStars® division today announced the addition of its ProfitStars® Financial Performance SuiteSM Customer Profitability and Pricing module to the Independent Community Bankers of America® (ICBA) Preferred Service Provider program.
Financial institutions are challenged because revenue growth continues to be held back by narrow interest margins and the competition for both finding and keeping good borrowers remains difficult. Further, industry research reports that 70% of financial institutions don't feel good about their loan pricing and profitability practices. This presents a clear opportunity for community banks to better understand, segment, and build retention and sales strategies.
The ProfitStars Financial Performance Suite Customer Profitability and Pricing module provides bankers with access to an accurate, timely, and thorough view of customer profitability alongside loan and deposit information so that they can make informed decisions that protect and enhance customer relationships. The solution integrates into most core banking platforms and extracts data from credit and merchant card, lease, mortgage, trust, deposit, insurance, and other applications to build a comprehensive client profile. Since the platform runs in a secure, cloud-based environment, it can be accessed anytime, anywhere.
Dan Clancy, ICBA executive vice president of services, said, "The Customer Pricing and Profitability module offers a complete view of the customer relationship, including loan and deposit information, so community banks can make informed decisions about product pricing. Through this system, community banks can meet their goals while enhancing the superior, individualized customer support for which they are known."
Russ Bernthal, president of ProfitStars, added, "The Customer Profitability and Pricing module can give bankers the confidence that they are making good decisions. Banks that use our profitability and pricing solutions regularly have higher net interest margins and return on equity than their competition, achieving almost 10 basis points greater margins than the industry averages. ICBA member banks now have easier access to effective and consistent pricing strategies that can positively impact their bottom line."
The ProfitStars' services provided to ICBA member banks continue to increase. Currently, the solutions offered at exclusive discounted rates include: enterprise profitability management; an online lending portal; accounts receivable financing; small business lending; remote deposit capture; payment, mobile and web services; and security services.
The Independent Community Bankers of America®, the nation's voice for more than 6,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.
As a diverse, global division of Jack Henry & Associates, Inc.® (JHA), ProfitStars® combines JHA's solid technology background with the latest breakthroughs in six performance-boosting solution groups – Financial Performance, Imaging, JHA Payment Solutions, Information Security & Risk Management, Retail Delivery, and Online & Mobile. Explore the power of ProfitStars-enhanced performance at www.profitstars.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 the financial services industry. Its solutions serve approximately 10,500 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a 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. 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.
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SOURCE Jack Henry & Associates, Inc.