MONETT, Mo., Feb. 13, 2020 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ:JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, today announced that Dow Chemical Employees' Credit Union (DCECU) has launched the Banno Digital Platform™ to provide personal, member-centered online and mobile experiences.
The $1.7 billion-asset credit union has a strong digital business, with only one branch for its more than 68,000 members worldwide. With its unique business plan, DCECU wanted to offer its members the best digital experience available: a more dynamic digital offering with a unified front and backend, better operational security, and a great engagement experience. Jack Henry's Banno Digital Platform met its needs, modernizing the credit union's digital channel to be more holistic as well as efficient.
DCECU migrated more than 80% of all active members to the new platform within weeks. Use and activity remain high, and the credit union continues to introduce new Banno features – with at least 20 added to date.
Art Peters, chief operating officer for the Michigan-based DCECU, explained, "The digital experience that we can now offer our members is special. It goes beyond having a superior UX; the Banno Digital Platform enables us to know our members' preferences and recognize their needs as they happen. Now, we can be personal and proactive within the digital channel. It has expanded our ability to digitally interact with our members in a simple and secure way, which ultimately leads to better service and deeper relationships."
DCECU is strategically engaged in leveraging the Banno Conversations feature of the platform, which provides secure, encrypted, fully authenticated chat in real time. The messaging channel translates true live and local personal service into digital banking for the first time, porting digital queries to staffed channels and vice-versa. Connected directly to the core and integrated natively inside the digital platform, it does not rely on third-party chat solutions that cannot support candid conversations to resolve problems. And, DCECU need not wait for a member to initiate contact; personnel can proactively reach out with customized offers and discussions via Banno Conversations, offering unlimited, extendable possibilities for service, support, marketing, and more.
Greg Adelson, chief operating officer of Jack Henry, commented, "Financial institutions should be able to leverage their competitive distinctions of service and trust within digital solutions. Digital is not about eliminating human involvement, it's about offering easy access to help at critical moments of need. The ability to make the digital experience more personal and meaningful is the differentiator that DCECU and other financial institutions need to be future ready. And, it's the core philosophy of Jack Henry's digital strategy."
As a single system for a financial institution's digital needs, the Banno Digital Platform fully integrates into Jack Henry's core solutions – Episys®, SilverLake System®, CIF 20/20®, and Core Director® – as well as other high-value complementary solutions. It enables credit unions to more effectively manage their digital content, security, data-driven marketing, and more. The online and mobile app user experience across the Banno Digital Platform mirror one another with identical functionality to create a seamless digital ecosystem.
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ:JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 9,000 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions; 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 future-ready 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: Kevin D. Williams, Chief Financial Officer, (417) 235-6652; or Press Contact: Dennis Jones, Senior Marketing Manager, (704) 737-8365
