ProfitStars to Bring Mobile Remote Deposit to More Businesses Through the ICBA

ICBA member banks can expand business banking channel and deposit acquisition through modern, engaging and secure mobile solution

News provided by

Jack Henry & Associates, Inc.

Oct 17, 2019, 08:00 ET

MONETT, Mo., Oct. 17, 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 ProfitStars^® division today announced the addition of JHA SmartPay mRDC℠ (Mobile Remote Deposit Complete) to the Independent Community Banks of America^® (ICBA) Preferred Service Provider program.

JHA SmartPay mRDC is a commercial mobile remote deposit capture solution built exclusively for businesses, enabling them to conveniently deposit checks anytime, anywhere using camera-enabled smartphones and tablets. Mobile remote deposits are an easier, more efficient way for businesses to make routine deposits – particularly those with low check volumes or entities with in-the-field representatives. Remote deposits also expedite funds availability and help diverse businesses improve cash flow and working capital.

Greg Adelson, vice president of Jack Henry & Associates and general manager of JHA Payment Solutions™, commented, "Growing deposits remains a primary focus for community banks and an initiative that all remote deposit capture solutions help support – particularly when they provide risk mitigation tools proven to limit fraud. Expanding commercial payment solutions, such as mobile remote deposit, can help ICBA member banks further distinguish themselves by equipping businesses with the high-demand, convenience-driven services they need to thrive."

JHA SmartPay mRDC provides the unique functionality businesses need, including the ability to accommodate multiple checks in a single deposit and make deposits into multiple accounts. The solution also allows payment data to be added to deposits while tracking all deposit activity. It includes advanced risk mitigation tools and is supported by proven, customizable marketing materials and campaigns. Compatible with camera-enabled iOS and Android mobile devices, JHA SmartPay mRDC leverages the latest video capture technology to provide high image capture rates and an exceptional user experience.

"JHA SmartPay mRDC combines the advanced functionality businesses need to better manage their day-to-day operations with the risk management and mitigation safeguards community banks require to help ensure a secure, convenient transaction for their customers," ICBA Services Network Chief Operating Officer Kevin Tweddle said. "ICBA is pleased to once again support ProfitStars in bringing innovative technologies that offer increased efficiency and additional value to our community bank members."

More than 2,300 financial institutions leverage remote deposit services from ProfitStars. This is the 17^th core-agnostic ProfitStars solution to be supported by the ICBA, among others including commercial lending, bill pay, remittance, digital banking, website services, CECL compliance, and profitability services.

About ICBA
The Independent Community Bankers of America^® creates and promotes an environment where community banks flourish. With more than 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ nearly 750,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, nearly $4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers' dreams in communities throughout America. For more information, visit ICBA's website at www.icba.org.

About ProfitStars
ProfitStars^®, a division of Jack Henry & Associates, Inc.^®, helps financial institutions of every asset size and charter, and diverse corporate entities, proactively identify and prepare for risks and market changes that could negatively impact their business. ProfitStars' industry-leading solutions and services include JHA Payment Solutions™, Information Security & Risk Management, Online & Mobile, Lending, Financial Performance, and Imaging/Data Management. These solutions help approximately 9,000 clients mitigate and control risks, optimize revenue and growth opportunities, contain costs, and drive future success. Additional information is available at www.profitstars.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.

SOURCE Jack Henry & Associates, Inc.