First Commonwealth Bank selects Jack Henry Banking to provide enterprise-wide automation
MONETT, MO (November 5, 2013) — 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 First Commonwealth Bank has selected its SilverLake System® core processing platform to provide enterprise-wide automation. This Pennsylvania-based bank, which has more than $6.2 billion in assets, will install SilverLake in-house, as well as outsource certain data processing functions.
According to Norm Montgomery, EVP/Business Integration for First Commonwealth Bank, “Every bank is looking for ways to reduce operating costs while increasing operating efficiencies. After an objective and forward-looking evaluation of our long-time core system and operating environment, we began an investigation of alternative technology solutions. Our comprehensive evaluation identified SilverLake as the most functionally compatible system for our near- and long-term requirements. We were also impressed with the level of satisfaction from Jack Henry & Associates’ customers and the company’s commitment to providing outstanding customer service. SilverLake’s IBM® Power System® hardware platform will be a significantly more cost-effective environment than our mainframe-based system. Its deep integration with the complementary solutions Jack Henry Banking provides, as well as its ability to easily integrate third-party solutions, will generate material operating efficiencies and enterprise-wide process improvements. We are confident this new technology partnership and our transition to an integrated, best-of-suite platform will provide a long-term strategic advantage and a superior customer experience.”
Stan Viner, general manager of sales for Jack Henry Banking, said, “Our experience serving as the primary technology partner for approximately 1,300 very diverse banks, including more than 20 percent of mid-tier banks, clearly demonstrates our ability to deliver highly customized, extremely flexible technology platforms for processing financial transactions, automating business processes, and managing mission-critical customer and business information. We welcome the addition of First Commonwealth Bank to our growing roster of progressive, growth-focused mid-tier clients and respect its confidence in SilverLake’s deep core functionality, the fully integrated complementary products and services we offer, and our fundamental goal to exceed each client’s service-related expectations.”
In addition to SilverLake, First Commonwealth Bank will initially implement an array of Jack Henry Banking’s complementary solutions including Vertex Teller Automation System™; ArgoKeys® DepositKeys™ account opening and administration; NetTeller® Online Banking™, NetTeller® Cash Management™; the iPay OneClick™ retail online bill payments solution; OurCashFlow™ online financial management (OFM); the Opening Act™ online deposit and loan account opening solution; goDough® mobile banking; the DirectLine® OFX™ interactive Internet banking solution for PC-based financial management systems; iTalk™ full-service telephone banking; the Synapsys® sales, marketing, and customer service solution; Relationship Profitability Management™ (RPM); Cognos 10™ business intelligence and enterprise reporting; jhaKnow™ data warehousing, analysis, and reporting; components of the Synergy Enterprise Content Management™ (ECM) solution; components of the Yellow Hammer™ fraud detection and prevention suite; jhaCall Center™; and more.
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 mid-tier institutions. Jack Henry Banking currently serves more than 1,300 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at http://www.jackhenrybanking.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 11,600 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community 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 best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. Additional information is available at http://www.jackhenry.com/