JHA Payment Processing Solutions Adds 20 New Credit Union Clients in 2011 Fiscal Year
- New and existing clients supported with the technology and expertise to increase efficiency and optimize growth opportunities -
MONETT, Mo., Oct. 11, 2011 /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 its JHA Payment Processing Solutions® (PPS) division added 20 credit unions to its client roster during fiscal year 2011. Nineteen of these credit unions elected to replace a competitive ATM, debit, and credit card processing solution with a PPS solution and one launched a new card program.
Tobyhanna Federal Credit Union, a $156 million, Pennsylvania-based institution is one of the credit unions converting to the PPS platform. According to Travis Frey, vice president of IT, Support, and Lending, "We wanted something in-house, live, and in real-time that did not require updates on more than one database. We looked at PPS and were immediately taken with its level of customer service. We no longer need to rely on a third-party for reporting. Since everything is now 'just a loan' and 'just a card,' we are able to create on-demand programs as well as customer reports to automate and create efficiencies across the board. From accounting to the front line, in-house credit cards with PPS was the right decision for us."
According to Carey Simon, accounting card specialist at Azalea City Credit Union, an $18.6 million, Alabama-based institution, "We were very comfortable with the pricing. We spoke with many other credit unions and they said they were very happy with PPS services. It's good to know about that reputation as we enter into a business relationship."
John Postle, general manager of PPS, said, "More and more institutions are realizing that if they're using in-house card processing, they'll get the best customer service possible from us. All companies talk about customer service but for PPS it's more than talk – it's the central focus of everything we do. We also have the technology and expertise to offer efficiency and growth opportunities. For example, PPS provides an easy-to-use processing interface, highly effective loyalty and fraud management programs, and an expert chargeback team. This combination of technology and service is hard to beat. Credit union members are the real winners."
About Tobyhanna Federal Credit Union
Tobyhanna FCU is located in Scranton, Pennsylvania and was founded in 1954. Tobyhanna is dedicated to providing quality financial products and services delivered in a professional, courteous, and timely manner. The institution offers a full line of products and services, including credit, debit, and ATM services; loans; investments; and products for businesses, youth, seniors, and more.
About Azalea City Credit Union
Azalea City Credit Union is located in Mobile, Alabama and was founded in 1954. The institution is committed to providing members with quality financial products and exceptional service. Whether saving for the future, financing a home, investing, or obtaining a new auto – Azalea offers quality, innovative, convenient, and competitive financial services. Its goal is to contribute to the well-being of members and their families.
About JHA Payment Processing Solutions (PPS)
JHA Payment Processing Solutions provides payment solutions to the financial industry including ATM, debit, and credit card solutions. These innovative solutions include one of the largest switch processors in the United States, access to one of the credit union industry's largest surcharge-free ATM networks, online real-time transaction authorization and processing, signature and PIN-based processing, in-house and outsourced fraud prevention and detection solutions, cardholder awards programs, card program management and profitability solutions, card manufacturing and personalization, instant issue and activation, marketing materials and programs, and renowned customer service. JHA Payment Processing Solutions are sold to financial institutions regardless of core processing platform, cross sold to the core credit union clients supported by Symitar™, and select products are sold to the core bank clients supported by Jack Henry Banking™. Additional information is available at www.weknowpayments.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 financial services organizations. Its technology solutions serve more than 11,200 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking supports banks ranging from de novo 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 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. iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. 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.
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