MONETT, Mo., Aug. 20, 2013 /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 a strategic partnership with RateWatch. As a result, RateWatch's competitive rate information is now offered through ProfitStars as Margin Maximizer Interactive's (MMi) Rate Sheet product.
Banks and credit unions are often challenged by setting rates that effectively grow the organization and improve profitability while maintaining a competitive edge. This new partnership allows decision makers to effectively set consumer loan and deposit rates that ensure adequate profitability and take into account the competitive pressures in their local market. The retail-level data adds an enhanced level of sophistication and insight to banks and credit unions leveraging the MMi platform.
According to David Foss, president of ProfitStars, "Financial institutions are required to walk a very fine line when pricing loans and deposits. The rates required to meet customer and member demands while still yielding high returns are complicated and constantly changing. Thanks to Rate Sheet, our clients can now leverage a greater knowledge, discipline, and consistency in their pricing processes, ultimately maximizing net interest income and better identifying growth opportunities."
RateWatch acquires interest rates, fee, and product information data from more than 90,000 institution locations across the nation, and its database is continually growing. By combining its pricing information with the rational applications and expert advisors available through MMi, financial institutions can strengthen net interest income and total portfolio values.Rachelle Zorn, general manager at RateWatch, commented, "RateWatch's partnership with ProfitStars provides the industry with an intuitive tool to quickly and easily assess market positioning and profit potential. Our synergy enables competitive financial institutions to gain more value from both of our services; it just makes sense." MMi leverages the Microsoft ® Windows ® Azure cloud computing platform to offer clients limitless scalability, simplified implementation, and minimal support resource requirements. About RateWatchFor over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States. Consistently providing top quality, highly relevant data, RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 96,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available. To learn more about RateWatch, visit www.rate-watch.com. RateWatch is a division of TheStreet, Inc. About TheStreetTheStreet, Inc. is the leading independent digital financial media company providing business and financial news, investing ideas, and analysis to personal and institutional investors worldwide. The Company's portfolio of business and personal finance brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, MainStreet, and RateWatch. To learn more, visit www.thestreet.com. The Deal, the Company's institutional business, provides intraday coverage of mergers and acquisitions and all other changes in corporate control. To learn more, visit www.thedeal.com. About ProfitStars As a diverse, global division of Jack Henry & Associates, ProfitStars combines JHA's solid technology background with the latest breakthroughs in five performance-boosting solution groups – financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile. Explore the power of ProfitStars-enhanced performance at www.profitstars.com. About Jack Henry & Associates, Inc. Jack Henry & Associates, Inc. ® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking ® supports banks ranging from community 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 best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. 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.