MONETT, Mo., Sept. 14, 2021 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its ProfitStars® division announced that more than 300 banks and credit unions are using its Gladiator Centurion Enterprise-Level Recovery™ (CELR) solution to secure the backup and recovery of mission-critical systems in the cloud.
Financial institutions are increasingly relying on Jack Henry as a partner to manage the backup and recovery of their systems; CELR is backing up 80% more financial institution data than it was 18 months ago. The high-demand comes as CELR addresses more marketplace needs, such as providing air-gapped cold storage, an environment where data is physically and electronically disconnected from all internet networks. This contributes to compliance with The Ransomware Self-Assessment Tool (R-SAT), a tool to help financial institutions mitigate the risks of ransomware developed by the Bankers Electronic Crimes Task Force, State Bank Regulators, and the United States Secret Service.
CELR sends a backup of all mission critical systems (including third-party data) to Jack Henry's private cloud. All data is encrypted both in transit and at rest. In the event of a ransomware attack, disaster, or power outage, a financial institution could access their information remotely or from a Centurion recovery center. The rapid data restoration helps ensure business continuity and integrity of data, providing consumers with better access to their finances and reinforcing trust in their financial institution of choice.
Annette Hord, senior vice president at Citizens Bank & Trust Company of Campbellsville, Ky., said, "It was always important to us to have Jack Henry back up our systems in the event of a natural disaster. Today, with the added vulnerabilities from ransomware attacks, knowing that our backup is in air-gapped cold storage is vital to our continuity planning. It's an added layer of defense that can preserve our data and our reputation as a trusted financial institution."
Ransomware is a leading threat to companies today. The widespread, increasing attacks threaten an institution's finances and reputation. A backup and recovery strategy like CELR is critical to a multi-layered defense. If prevention and detection fail, this mitigates disaster and can have a bank or credit union up and running within hours.
Matt Riley, President of ProfitStars, said, "Jack Henry is a trusted partner to banks and credit unions, providing them with experts that are committed to continually improving compliance and security best practices. As threats evolve, the rapid adoption of CELR is an example of how a full-service partner relationship can help banks and credit unions prepare for the worst case scenarios while continuing to build a bright future for their communities."
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 SolutionsTM, Information Security & Risk Management, Online & Mobile, Lending, Financial Performance, and Imaging/Data Management. These solutions help approximately 8,500 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 (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in cloud-based digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? 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.
Analyst Contact: Vance Sherard, CFA, Sr. Director - Corporate Development & Investor Relations, (417) 235-6652, or Press Contact: Heather Sugg, APR, Sr. VP, William Mills Agency, (954) 854-6203