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Jack Henry & Associates Inc.

07/23/2019 | Press release | Distributed by Public on 07/23/2019 05:56

Busey Bank Partners with Jack Henry & Associates to Support Their Growth with an Open Banking Ecosystem and Enhanced Customer Experience

MONETT, Mo., July 23, 2019 /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 Champaign, Ill.-based Busey Bank, and holding company First Busey Corporation, has selected the SilverLake System® in an outsourced environment to support the institution's strong growth with open architecture, improved workflows and enhanced digital capabilities.

Through both organic growth and a series of strategic acquisitions, Busey has nearly tripled in size over the last four years. The expansion prompted the bank to conduct a thorough technological and systems analysis, ensuring their infrastructure could appropriately scale with the organization while enabling future growth and an enhanced customer experience.

The bank decided to make a change, selecting Jack Henry in order to gain significant workflow enhancements, efficiency and digital differentiators. Jack Henry's open integration was also a significant factor in the bank's decision; Busey liked that they could easily connect with additional technology providers of their choice as they grow their business to new areas, freeing them from common limitations.

Howard Mooney, chief information officer of First Busey Corporation, explained, 'As we thoroughly evaluated our technology across all areas of the enterprise from personal and business banking to retail and commercial to operations, we wanted a partner that would elevate Busey's associate and customer experience, offer options to easily scale, and position us for success as we continue to grow. Jack Henry stood out on multiple fronts. Its advanced API network provides the open architecture and sophisticated connectivity necessary for us to chart our own course. This partnership supports our dedication to strategic process improvements and investment in integrated technology platforms, enabling us to better serve customers now and in the future.'

Busey has selected a suite of Jack Henry solutions spanning retail and commercial operations. The bank looks forward to leveraging Jack Henry's digital suite, optimizing the digital banking experience for customers. The platform will help facilitate more seamless and intuitive interactions, serving customers when and how they prefer. Mooney continued, 'Digital remains a critical area for the modern customer experience, and we are confident that Jack Henry has a strong pulse on the market. Their platform brings a lot to the table in terms of how we can digitally connect with clients on a personal level and the breadth of capabilities we can deliver. Banno will help us create a faster, better, more holistic view and experience for customers, and deliver more flexibility for them to control and manage their finances. This is a substantial differentiator.'

Stacey Zengel, vice president of Jack Henry & Associates and president of Jack Henry Banking, said, 'Consumers today expect freedom, flexibility, and choice, so it makes sense that ambitious institutions such as Busey Bank are demanding an open platform that is focused on optimizing the customer experience. At Jack Henry, we remain committed to supporting the easy, secure integration of any solution an institution wants to leverage and have always advocated for the accessibility and transparency necessary for openness and trust in our bank partnerships.'

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, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The S&P 500 company's solutions serve more than 9,000 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.

Analyst Contact: Kevin D. Williams, Chief Financial Officer, (417) 235-6652; or Press Contact: Jessica Randall, Corporate Communications Manager, (704) 357-0298