MONETT, Mo., Nov 06, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced it has formed a strategic alliance and remarketing relationship with iPay Technologies, a leading provider of electronic bill payment products and services.
Based on the terms of this agreement, iPay will provide the gateway that delivers the electronic payments generated by NetTeller(R) PowerPay(TM), Jack Henry's electronic bill payment solution. iPay's transaction routing technology will optimize the delivery of the millions of electronic payments collectively generated each year by Jack Henry's core clients.
According to Pete Hopkins, general manager of Internet Solutions for Jack Henry & Associates, "Electronic bill payment is a strategic offering for financial institutions and we have made a significant commitment to provide contemporary e-payment solutions. We believe iPay's electronic payments gateway will further enhance our PowerPay solution. We also expect to offer non-core clients, like the financial institutions added through our AudioTel acquisition, a proven and flexible electronic bill pay solution that will be compatible with virtually any core and Internet banking platform."
Kelli Schultz, president of iPay, said, "Jack Henry is a highly respected industry leader, so we consider its selection of iPay as a strategic business partner to further validate the quality of our products and services. We look forward to a long and successful relationship with Jack Henry, its core and non-core financial institution clients, and ultimately the hundreds of thousands of users of our bill payment solutions."
About iPay Technologies
Headquartered in Elizabethtown, Ky., iPay Technologies is the leading independent provider of Internet bill payment services. Founded in 2001, iPay develops and fully supports consumer and small business online bill pay solutions for more than 1,400 community financial institutions nationwide and in Puerto Rico. Additional information about iPay is available at http://www.ipaytechnologies.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 8,700 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking(TM) supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar(TM) is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars(R) 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 http://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.
http://www.jackhenry.com
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