|Branch automation offers key teller functionality|
Two banks sign on for Jack Henry's branch automation technology.
State-of-the-Art Platform Solution Expected to Generate Tangible Benefits for Diverse Banks
Monett, Mo. – February 26, 2008 – Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated computer systems and ATM/debit card/ACH transaction processing, today announced that two additional core bank clients will enhance their in-house information processing platforms with components of the ArgoKeys branch sales automation platform. Jack Henry Banking offers ArgoKeys through its strategic alliance with ARGO Data Resource Corporation, and has fully integrated the modular solution with its SilverLake® core information processing platform.
ArgoKeys consists of four modules: DepositKeys is the deposit account opening and administration solution; LendingKeys is the consumer and business lending solution; TellerKeys is the sales, service, and transaction processing solution; and RelationshipKeys is the comprehensive customer relationship management solution. This fully integrated platform is designed to enhance customer acquisition, service, satisfaction, and retention. ArgoKeys also can optimize logical cross-sale opportunities and expand customer relationships, improve operating efficiencies and productivity, and generate competitive distinction and advantages.
Community Bank of Mississippi, a $2.2 billion, seven bank holding company headquartered in Brandon, Mississippi, licensed DepositKeys and LendingKeys. Community Bancshares’ chief information officer, Jonathan White, said, “Attracting and retaining commercial deposits and loans is a strategic component of our business and growth strategy. We are confident that a sophisticated platform automation solution will enhance our ability to serve our customers, improve our operational efficiencies, and streamline our lending process by automatically incorporating risk ratings and empowering our loan officers with automated decisioning. Since ARGO is used by several larger banks in our area, we were familiar with the system and impressed by the functionality it provided. We evaluated platform solutions for about four months and ultimately decided ARGO’s functionality combined with its full integration with SilverLake is the solution for our bank and our customers.”
Lone Star National Bank, a $1.6 billion bank headquartered in Pharr, Texas, will install DepositKeys, LendingKeys, and RelationshipKeys. Roger Leblond, the bank’s executive vice president of technology, reported, “Our bank has established a very aggressive technology culture based on our respect for the role technology plays in a bank’s ability to attract, serve, and retain customers in a very competitive business environment. Based on our goal to continually improve our client experience and our operational efficiencies, we launched an evaluation of platform technology that lasted approximately nine months. This comprehensive evaluation demonstrated that the SilverLake/ARGO solution can increase our operating efficiencies through additional automated functionality and total integration, and improve our enterprise-wide process standardization and workflow. We also expect this advanced platform automation will enable us to more efficiently enforce our lending policies, to ensure a compliant lending process, and to ultimately increase our loan portfolio and the resulting income.”
According to Tony Wormington, president of Jack Henry & Associates, “Our SilverLake System currently provides enterprise-wide automation for approximately 20 percent of the domestic banks with assets ranging from $1 billion to $30 billion. In addition to the highly customizable core functionality that SilverLake provides, we believe our suite of more than 100 integrated complementary products and services, which includes the ARGO solutions, generates important competitive advantages for Jack Henry Banking and ultimately our bank clients. These fully integrated, best-of-suite solutions enable banks to seamlessly support their dynamic business strategies and proactively respond to evolving consumer, market, and competitive demands.”
About Lone Star National Bank
Established in 1983, Lone Star National Bank has provided banking services to communities in South Texas for the past 25 years. Lone Star National Bank celebrated its 25th anniversary on January 23, 2008. An independently owned bank, Lone Star National Bank has assets in excess of $1.6 billion and 18 banking centers located throughout Starr, Hidalgo, and Cameron counties. Lone Star National Bank is valley-based, valley-owned, and growing with the valley. The corporate office is located at 206 W. Ferguson, Pharr, Texas. Visit the bank’s website at www.lonestarnationalbank.com.
About Community Banks of Mississippi
Community Bancshares is a $2.2 billion multi-bank holding company consisting of seven banks in Mississippi, Tennessee, Florida, and Alabama; with 32 locations and more than 600 staff members. Community Bancshares, Inc. is one of the south’s fastest-growing financial institutions and was named one of the “Best Places to Work” for three years in a row by the Mississippi Business Journal.
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 approximately 1,700 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 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 supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar™ is the leading provider of information and transaction 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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