MONETT, Mo., Oct. 14, 2020 /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 it partnered with Dallas-based United Texas Bank (UTB) to provide the bank with its SilverLake System® core along with several additional Jack Henry digital, payments and complementary services.
James Huggins was named president of the bank eight years ago, when it held $170 million in assets. Today, with $1 billion in assets, the bank's previous systems were too manual and fragmented to meet its needs. "Our goal was to select a core provider that would deliver the efficiencies and automation needed to grow with our existing resources while providing the advanced digital solutions and strategy to help carry us far into the future. Jack Henry had the suite of solutions we needed, coupled with the open infrastructure to easily work with third parties. We're moving away from manual processes while providing a more intuitive, comprehensive customer experience."
UTB will be able to continue to grow without adding resources due to the streamlined processes and efficiencies gained with Jack Henry. Furthermore, the bank completed its conversion in the midst of the pandemic, with 90% of its workforce remote. Huggins noted that it was a remarkably smooth conversion.
Features such as JHA OpenAnywhereTM digital account opening were an added benefit for the bank. Previously, it worked through a third-party account opening vendor and had to manually re-write all forms from the application site to match their back office. The Jack Henry digital services will save the bank multiple layers of labor and time, in addition to providing a better customer experience. And, Jack Henry's customer-controlled card security features and fully automated wires will improve the bank's payments services.
Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking, added, "UTB is growing rapidly and can maintain its personal connections while adding sophisticated services with our highly integrated and flexible core. This is an excellent example of a bank that can go toe-to-toe with competitors of all sizes while still maintaining personal service and a focus on relationships. We have similar visions for the future of community banking and look forward to a long and rewarding partnership."
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 multi-billion-dollar institutions. Jack Henry Banking currently serves more than 1,000 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
Jack Henry (NASDAQ:JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,700 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? 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.
Analyst Contact: Kevin D. Williams, Chief Financial Officer, (417) 235-6652; Press Contact: Barbara Miller, Sr. Corporate Comm Manager, (470) 306-9043
