300 financial institutions leverage Jack Henry cloud-based backup and recovery solution
Growing number of banks and credit unions add enterprise-level layer backups for mission critical systems to mitigate ransomware and cyberattacks with air-gapped cold storage
MONETT, MO (September 14, 2021) — Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its ProfitStars® division announced that more than 300 banks and credit unions are using its Gladiator Centurion Enterprise-Level Recovery™ (CELR) solution to secure the backup and recovery of mission-critical systems in the cloud.
Financial institutions are increasingly relying on Jack Henry as a partner to manage the backup and recovery of their systems; CELR is backing up 80% more financial institution data than it was 18 months ago. The high-demand comes as CELR addresses more marketplace needs, such as providing air-gapped cold storage, an environment where data is physically and electronically disconnected from all internet networks. This contributes to compliance with The Ransomware Self-Assessment Tool (R-SAT), a tool to help financial institutions mitigate the risks of ransomware developed by the Bankers Electronic Crimes Task Force, State Bank Regulators, and the United States Secret Service.
CELR sends a backup of all mission critical systems (including third-party data) to Jack Henry’s private cloud. All data is encrypted both in transit and at rest. In the event of a ransomware attack, disaster, or power outage, a financial institution could access their information remotely or from a Centurion recovery center. The rapid data restoration helps ensure business continuity and integrity of data, providing consumers with better access to their finances and reinforcing trust in their financial institution of choice.
Annette Hord, senior vice president at Citizens Bank & Trust Company of Campbellsville, Ky., said, “It was always important to us to have Jack Henry back up our systems in the event of a natural disaster. Today, with the added vulnerabilities from ransomware attacks, knowing that our backup is in air-gapped cold storage is vital to our continuity planning. It’s an added layer of defense that can preserve our data and our reputation as a trusted financial institution.”
Ransomware is a leading threat to companies today. The widespread, increasing attacks threaten an institution’s finances and reputation. A backup and recovery strategy like CELR is critical to a multi-layered defense. If prevention and detection fail, this mitigates disaster and can have a bank or credit union up and running within hours.
Matt Riley, President of ProfitStars, said, “Jack Henry is a trusted partner to banks and credit unions, providing them with experts that are committed to continually improving compliance and security best practices. As threats evolve, the rapid adoption of CELR is an example of how a full-service partner relationship can help banks and credit unions prepare for the worst case scenarios while continuing to build a bright future for their communities.”
About Jack Henry & Associates Inc
Jack HenryÔ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.
About ProfitStars
ProfitStars®, a division of Jack Henry & Associates, Inc.®, helps financial institutions of every asset size and charter, and diverse corporate entities, proactively identify and prepare for risks and market changes that could negatively impact their business. ProfitStars’ industry-leading solutions and services include JHA Payment SolutionsTM, Information Security & Risk Management, Online & Mobile, Lending, Financial Performance, and Imaging/Data Management. These solutions help approximately 8,500 clients mitigate and control risks, optimize revenue and growth opportunities, contain costs, and drive future success. Additional information is available at www.profitstars.com.
