Native American Bank Selects Jack Henry Banking's SilverLake System

Bank partners with Jack Henry & Associates to deliver digital, sophisticated banking services to underserved community

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Oct 16, 2018, 08:00 ET

MONETT, Mo., Oct. 16, 2018 /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 Native American Bank selected its SilverLake System^® to support their mission of providing flexible, comprehensive banking services to the Native American community. The bank will deploy the SilverLake System in an outsourced environment through JHA OutLink Processing Services™ (JHA OPS).

As the only national American Indian-owned certified Community Development Financial Institution (CDFI) in the country, Denver-based Native American Bank is committed to promoting economic development in a community that is typically underserved by traditional financial institutions. To support this initiative, the bank recognized the need for a technology partner that would deliver sophisticated banking services and provide a cultural fit for the institution. The bank's previous core vendor didn't offer the necessary levels of mobility for today's digital world, and lacked the collaborative partnership the bank needed to appropriately support its community.

Jamie Yancy, senior vice president and chief technology officer of Native American Bank, explained, "It has historically been a challenge for Native Americans to access affordable and comprehensive financial services, which is why our goal is to provide resources to help this community raise financial literacy, build businesses and create jobs. The SilverLake platform's flexibility and high levels of integration allow us to more efficiently deliver a wide range of financial services and options to our customers. Equally as critical, with Jack Henry & Associates we have found a true partner that understands the importance of community and is dedicated to helping us achieve our mission."

Deploying the SilverLake platform via an outsourced environment will drive efficiency gains across the institution, ultimately translating into time and cost savings. In an environment where banks are increasingly required to do more with less, Native American Bank will benefit from the ability to derive greater use from existing resources. Jack Henry & Associates' core technology also enhances the bank's compliance efforts, as the increased automation and streamlined processes will boost transparency.

Native American Bank is also providing its employees with a better working environment. Implementing SilverLake^® Xperience^™, a customizable user interface, will enhance the employee user experience, and Synergy Document Management^™ will boost enterprise-wide imaging and reporting efficiencies and capabilities. The modern services can improve overall team morale and even help with employee retention and recruiting.

Stacey Zengel, vice president of Jack Henry & Associates and president of Jack Henry Banking, added, "Native American Bank is dedicated to supporting their community through stronger financial services, and Jack Henry & Associates is proud to provide the technology that drives this mission. Deploying the SilverLake platform through an outsourced delivery channel will offer greater levels of efficiency and reduce tedious manual tasks, positioning the bank to focus on its goals and easily scale as needed. We look forward to continuing to support Native American Bank as they equip their customers for financial success."

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 1,100 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 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.