FirstBank, Jack Henry & Associates Partner for Enterprise-Wide IT Initiatives

MONETT, Mo., Oct. 12, 2016 /PRNewswire/ -- 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 Jack Henry Banking® division announced that Nashville-based FirstBank implemented the SilverLake System® to reengineer its systems enterprise-wide. FirstBank, which recently announced its intent to go public, is the third largest Tennessee-headquartered bank with 46 branches across Tennessee, Alabama and Georgia, as well as mortgage locations across the Southeast.

Jack Henry & Associates' unified suite of solutions enabled FirstBank to go from working with 14 mission-critical vendors to only four strategic partners. Such consolidation not only boosts efficiency ratios, but also decreases a bank's regulatory risk profile. The bank outsourced SilverLake and moved its IT infrastructure to Jack Henry & Associates' secure cloud computing environment, Gladiator® Hosted Network Solutions™. Outsourcing its infrastructure management and maintenance enables FirstBank to devote IT experts to building the brand with customers and enhancing its employee experience. Gladiator Hosted Network Solutions also increases network dependability and protects the integrity of FirstBank's data, providing the bank the support it needs for information security challenges and regulatory considerations.

Wade Peery, director of operations and technology at FirstBank, commented, "Nashville is currently one of the strongest banking markets in the U.S. Even with a solid community to recruit from, a multi-billion dollar bank could not assemble an IT team that measures up to what Jack Henry & Associates provides through its outsourcing. Its level of talent and physical back-up systems would be virtually impossible for us to recreate."

SilverLake has helped FirstBank gain additional efficiencies in the following ways:

• By defining its transaction posting preferences electronically with SilverLake Real Time™ processing, FirstBank can now provide customers with a unified view of their accounts across channels. Previously, the customer would receive disparate results as processing occurred through the evening.
• Moving to a teller capture platform saved the institution $300,000 per year in vendor-related processing expenses while also improving accuracy.
• Implementing an enhanced account opening process has reduced the time required to open an account from 45 minutes and a day of delay to a 10-minute process. 

Peery continued, "Jack Henry & Associates works just as hard for our business as we do for our customers, and I do not say that lightly. They offer the power and flexibility to address all the complexities of a bank our size."

Stan Viner, general manager of sales for Jack Henry Banking, added, "FirstBank's goal in partnering with Jack Henry & Associates is to lead its peer group in customer experience, employee environment and financial performance. The SilverLake System is a customer-centric platform that is highly customizable and responsive to such goals. As a result, the bank is already experiencing significant gains in each of these areas. We are dedicated to continuing to push industry standards and deliver solutions that drive our clients' business forward."

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 approximately 1,200 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, Inc.  Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve approximately 10,500 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a 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. 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.