MONETT, Mo., April 18, 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 ProfitStars® division today introduced RemitCentral™, a solution that complements its RemitPlus Remittance/Lockbox solution by enabling seamless processing of payments from a variety of sources.
RemitCentral enables both electronic and paper payments to be processed on a single platform by aggregating all payments and scanning and capturing the images of paper checks and payment vouchers, stubs, envelopes, correspondence, and coupons. It addresses the challenge shared by financial institutions and their business customers to reconcile payments from multiple sources including online bill pay providers, payment portals, kiosks, auto drafts, rebates, mobile, and mailed-in and walkup payments. This centralized processing solution links the remittance/lockbox with all accounts receivables so electronic and paper payments can be processed on a single platform without manual entry.
CoastalStates Bank recently implemented RemitCentral to offer its business customers more competitive benefits. Centralized processing is expected to save days of manual entry for business customers who elect to leverage the ACH solution. According to John W. Anderson, Jr., business banking officer at CoastalStates Bank, "RemitCentral is a great complement to our existing payment offerings. The powerful payment aggregation eases the entire process, even more than expected, and has helped us stay ahead of what our business customers' demand in terms of efficiency."
RemitCentral is an ideal solution for any size institution or business that regularly receives electronic payments from multiple disparate sources. The industries served include banks, credit unions, utilities, tax offices, electric cooperatives, telephone companies, churches, non-profit organizations, insurance agencies, and property management companies.
David Foss, president of ProfitStars, commented, "As innovations in financial technologies continue to increase, the number of ways consumers can pay their bills also grows. The result is greater convenience for the consumer and stronger consumer loyalty to financial institutions and businesses. RemitCentral is a strong asset to financial institutions and businesses that continue to expand their payment options, providing them a way to consolidate processing and reconcile payments in a secure, open, and seamless manner."
As a diverse, global division of Jack Henry & Associates, ProfitStars combines JHA's solid technology background with the latest breakthroughs in four performance-boosting solution groups – financial performance, imaging and payments processing, information security and risk management, and retail delivery. 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 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.