MONETT, Mo., Dec. 2, 2010 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced its ProfitStars division has introduced Relationship Profitability Management (RPM) Reporting Services, which supports enhanced profitability reporting and analysis for banks and credit unions of all asset sizes.
RPM Reporting Services is an extension of ProfitStars' RPM enterprise-wide profitability solution, which enables financial institutions to generate and manage profitability data in an integrated, automated environment. This new service provides ongoing reporting and analysis of key performance indicators, including insights into customer/member, officer, and product profitability. This sophisticated service enables diverse financial institutions to leverage the proven benefits of the RPM platform without the traditional capital investments in hardware, software license agreements, and on-staff profitability experts.
According to David Foss, president of ProfitStars, "All financial institutions, regardless of their asset size or charter, typically generate the majority of their profits from a select group of customers. We believe the financial institutions that will weather the down economy and prosper during the next few years must pay careful, regular attention to the customers, officers, and products that contribute the most profitability. Our RPM Reporting Services will help banks and credit unions identify specific, practical opportunities for revenue and profitability improvements enterprise-wide."
RPM Reporting Services extracts data from any core application system and uses business rules to appropriately allocate margin, credit risk, and expenses among customer accounts. Each quarter, financial institutions receive a set of 18 reports that document the profitability of customers/members, officers, and products. This service also provides trend reporting on the institution's current profitability situation with profitability improvements insights, and includes a quarterly presentation of these reports and findings by a ProfitStars profitability consultant.
ProfitStars recently launched its Budgeting and Profitability Online Knowledge Center as a centralized resource to assist financial institutions with enhancing performance and assessing the inherent risks associated with budgeting and profitability. The microsite – http://discover.profitstars.com/financialperformancesolutions – provides ProfitStars' customers and prospects with access to information that is instrumental in the accurate assessment of their current business objectives and the development of strategies that can improve operations, competitive advantages, and financial performance. Site visitors can uncover the hidden profit potential in ALM tracking, net interest margin improvements, and more effective budgeting.
ProfitStars, a division of Jack Henry & Associates, Inc., provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.profitstars.com.
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.