Simmons Bank Increases Customer Engagement with the Banno Digital Platform

Bank expands Jack Henry partnership to offer faster, safer, customizable app upgrade; customer response surpasses expectations across all generations

News provided by

Jack Henry & Associates, Inc.

Feb 25, 2020, 08:00 ET

MONETT, Mo., Feb. 25, 2020 /PRNewswire/ -- Jack Henry & Associates, Inc.^® (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, today announced that Arkansas-based Simmons Bank has selected the Banno Digital Platform™ as part of its strategy to build a digital presence that supports an aggressive growth trajectory.

The $21.2 billion-asset bank has been growing rapidly and, to continue the pace, wanted a digital experience that customers could enjoy while maximizing the channel's potential for cross sales, account origination, and selling in the context of service. The Banno Digital Platform offered the experience the bank was looking for along with tight integrations into its Jack Henry core, the SilverLake System^®.

Simmons took a customer-first approach to launching the mobile app, inviting customers to try the new version while leaving its previous app fully functional. Customers were eager to make the change; within the first 30 days, 80 percent of digital users logged onto the Banno Mobile app. Within 45 days, 93 percent voluntarily logged on. The simple, streamlined interface also fostered adoption across other services. For instance, Simmons experienced more mobile remote deposit capture enrollments in one week than it realized in the previous two months.

Alejandro "Alex" Carriles, executive vice president and chief digital officer at Simmons, commented, "It's not often that customers say they love their banking experience, but with the Banno Digital Platform, we have proudly encountered that time and again. Our customers are logging in an average of 1.43 times a day, they're having fun exploring all that's available. This response validates that we are meeting – even exceeding – our customers' expectations and positioning for growth in a competitive market."

Carriles noted that the bank is experiencing a lot of activity around the Banno Conversations℠ feature, a unique and secure way to facilitate authenticated chat messaging with a local bank representative in real-time. He added, "Our digital experience is not about deferring customers to self-service channels; instead, we're offering greater access to banking services and to our representatives. We are dedicated to being available to customers during their moments of need, which in turn will empower us to better monetize the digital channel."

Simmons will soon add the Banno Online™ counterpart of its app, which will mirror Banno Mobile with the identical functionality, along with a suite of Jack Henry payment solutions to complete its transition to more accessible digital services. The deep integration will enable the bank to more easily manage digital content, security, data-driven marketing, and more.

Greg Adelson, chief operating officer of Jack Henry, commented, "Simmons is standing out with its digital experience, not just in comparison with peers, but financial institutions of all sizes. KPIs, such as app-launch-to-app-usable times, stand out to customers – the Banno Digital Platform's apps launch and are usable in less than a second. The platform's ability to offer service without delays and lag time, combined with real-time personal assistance, is a combination that surpasses what big techs and mega-banks are doing today. It's this kind of service that will enable a bank like Simmons to continue to win business and truly please customers."

About Simmons Bank

Simmons Bank is an Arkansas state-chartered community banking organization that began in 1903. Through the decades, Simmons has developed a full suite of financial products and services designed to meet the needs of individual consumers and business customers alike. Simmons has grown steadily and today operates more than 200 branch locations throughout Arkansas, Colorado, Illinois, Kansas, Missouri, Oklahoma, Tennessee and Texas. Simmons is the subsidiary bank for Simmons First National Corporation (NASDAQ: SFNC), a publicly traded bank holding company headquartered in Pine Bluff, Arkansas, with total consolidated assets of $21.3 billion as of Dec. 31, 2019. For more information, visit https://simmonsbank.com/.

About Jack Henry & Associates, Inc.

Jack Henry (NASDAQ:JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 9,000 clients nationwide through three divisions: Jack Henry Banking^® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar^® provides industry-leading solutions to credit unions of all sizes; and ProfitStars^® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? 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.

SOURCE Jack Henry & Associates, Inc.