MONETT, Mo., Sept. 13, 2012 /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 LowellBank has selected its SilverLake core processing system to provide enterprise-wide automation. This Massachusetts-based bank, which has more than $172 million in assets, will implement SilverLake through Jack Henry Banking's outsourced offering.
According to Jeff Guimond, senior vice president of Bank Operations for LowellBank, "We are strategically focused on being accessible and responsive to our customers' banking needs, and providing superior customer service is only possible at a community-centered bank backed by technologically advanced products and services. In fact, we believe technology can be a key differentiator for our bank so we launched a search for a contemporary technology platform. Our search focused on finding a true technology partner, not just a system. We wanted one company that could support the vast majority of our technology requirements, and a partner with the proven ability to meet its customers' service-related expectations. Jack Henry Banking clearly demonstrated it has the core and complementary solutions, the service culture, and the partnership approach our bank was looking for. We are confident that our implementation of a new SilverLake-based technology platform will be mission-critical to making us the first bank in our markets to introduce contemporary solutions in response to evolving customer demands, industry trends, and advancing technology."
Stan Viner, general manager of sales for Jack Henry Banking, said, "Banking has evolved into one of the most technology-dependent industries. But while some banks consider technology as a backroom necessity to process transactions and business information, LowellBank considers technology to be an important point of competitive distinction and critical to attracting and retaining customers in today's highly competitive business environment. It is the input and guidance from technology-driven banks like LowellBank that help us consistently deliver leading-edge core and complementary solutions, relevant and beneficial enhancements, and service levels that exceed our clients' expectations."
In addition to SilverLake, LowellBank will initially implement an array of Jack Henry Banking's complementary solutions including StreamLine Platform Automation ®–Deposits™; OnBoard Loans™; Vertex Teller Automation System™; Vertex Teller Capture™; NetTeller Online Banking™; goDough ® mobile banking; iPay Consumer Online Bill Pay™; the iPay Biz 2.0™ small business online bill payment suite; OurCashFlow™ online financial management (OFM); Opening Act™ online account opening; Electronic Statements−Interactive™; components of the jhaPassPort™ ATM and debit card transaction processing platform; the Synapsys ® sales, marketing, and customer service solution; the Yellow Hammer™ fraud detection and prevention suite; Yellow Hammer BSA™; the Yellow Hammer ACH Origination™ and Yellow Hammer Wire Origination™ real-time monitoring solutions for ACH and wire transactions; Relationship Profitability Management™ (RPM); PROFITstar ® Classic™ asset/liability management and budgeting; and components of the Enterprise Payment Solutions (EPS) platform including the Remote Deposit Now™ (RDN) ASP remote deposit capture and Remote Deposit Anywhere™ (RDA) mobile and flatbed remote deposit capture solutions. LowellBank will also be upgrading to the latest version of the Synergy™ Enterprise Content Management (ECM) solution.About LowellBank LowellBank has been serving the banking needs of the greater Lowell community since 1885. Two full service banking locations, a lending and operations center in Lowell, MA and 23 residential lending offices in its Omega Mortgage Division located throughout southern New Hampshire, Massachusetts, New Jersey, and Rhode Island offer customers full commercial, residential, and consumer products and services. All deposits are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Shareholder Insurance Fund (SIF). Additional information is available at www.lowellcoop.com. 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 mid-tier institutions. Jack Henry Banking currently serves more than 1,300 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 financial services organizations. Its technology solutions serve more than 11,900 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.