MONETT, Mo., Sept. 30, 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. The company announced today that $1.5 billion-asset Crews Banking Corporation has partnered with Jack Henry to modernize and streamline technology across the enterprise, including lending, digital and core.
Wauchula, Fla.-based Crews Banking Corporation is the holding company for four individually chartered banks: Charlotte State Bank & Trust, Crews Bank & Trust, Englewood Bank & Trust, and Wauchula State Bank. The holding company was on its previous core system for more than 20 years and needed a more robust, digitally optimized core to support its growth and evolution. By leveraging Jack Henry's SilverLake System® core, the banks are gaining a strategic, long-term technology ecosystem that seamlessly integrates and aligns critical lines of business. And, by running the core through Jack Henry's private cloud environment, Crews Banking Corporation expects to reduce IT burden and better meet regulatory demands.
Brad Wilson, Chief Financial Officer of Crews Banking Corporation, explained, "Technology is changing at a rapid pace, and we needed to upgrade our systems to empower us to compete and quickly introduce differentiated customer experiences. Jack Henry has the deep integrations, open philosophy and strong culture we were looking for. Plus, by outsourcing with Jack Henry, we'll be able to solve for the talent shortages in our area and benefit from the wide, valuable expertise of their team."
Crews Banking Corporation will leverage Jack Henry's digital loan platform to automate the commercial lending process and deliver an enhanced borrower experience. The all-digital loan origination, decisioning, and portfolio management workflows will allow the banks to improve transparency, reduce paper throughout the loan lifecycle and shorten loan turnaround times. The banks are further enhancing digital experiences with the Banno Digital Platform™, enabling meaningful personal service at the moment of need within digital channels with fully open, API connectivity. Both of these digital platforms are tightly integrated to the SilverLake System core creating a unique value of 1+1+1=5.
Wilson continued, "Customer experience is the driver for everything we do, and that means ensuring both lending and deposit banking experiences are quick, easy and digitally optimized. Jack Henry's digital lending technology offers seamless integrations from application to closing and beyond, creating efficiencies and establishing a strong competitive posture in our market. The Banno Digital Platform brings equally valuable benefits, delivering a human-centric and smooth experience for our customers that even exceeds their daily interactions with the likes of BigTech companies and major retailers."
Ted Bilke, vice president and chief technology officer of Jack Henry & Associates, stated, "Technology solutions that have been pieced together over years or even decades typically create inefficiencies and are detrimental to the overall customer experience. Crews Banking Corporation is making a strategic investment in a dynamic, comprehensive and customizable platform that supports agility and personal experiences. With Jack Henry, the banks are boosting their competitive positions and solidifying the technology necessary for continued growth and success."
About Crews Banking Corporation
Crews Banking Corporation is a family-owned-and-operated Florida bank holding company providing local financial services for more than 90 years. Now in its fourth generation of family leadership, it remains dedicated to delivering world-class service to every customer, every time. The corporation's system of premier community banks includes Wauchula State Bank, Crews Bank & Trust, Charlotte State Bank & Trust, and Englewood Bank & Trust.
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, Director of Investor Relations, (417) 235-6652; or Press Contact: Heather Sugg, APR, Sr. VP, William Mills & Associates, (954) 854-6203