Fidelity Bank & Trust Partners with Jack Henry to Support Growth with Modern Technology

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Nov 17, 2020

Fidelity Bank & Trust Partners with Jack Henry to Support Growth with Modern Technology

Bank launches Jack Henry core, deposit, and lending solutions to increase efficiencies, improve customer experience

MONETT, Mo., Nov. 17, 2020 /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 Fidelity Bank & Trust has launched Jack Henry core, deposit and lending technology, gaining efficiencies and positioning for strong continued growth.

Dubuque, Iowa-based Fidelity has experienced significant growth in recent years and has nearly $1.5 billion in assets today. The bank recognized the need to select a more modern, automated core for increased support, one with robust capabilities that could competitively position Fidelity for the future. Because of Jack Henry's flexible, integrated technology and service-focused culture, Fidelity decided to launch the SilverLake System® core in a private cloud environment. The bank replaced several vendors across its enterprise, leveraging Jack Henry for highly integrated lending and deposit solutions as well.

Bryan Vander Lee, chief financial officer of Fidelity Company, explained, "Jack Henry won us over from the beginning with both product and support; we appreciated their modern technology and compatible corporate culture. That's why we decided to go all in on Jack Henry, replacing previously siloed systems in favor of their solution suites, which has resulted in more seamless processes and increased efficiencies. We were previously an in-house organization but adjusted quickly to the outsourced environment. This model has allowed us to free staff from manual tasks while still allowing us to maintain control of our data. We believe Jack Henry will be able to grow with us; we are confident in their vision and expect them to provide the tools we need to cultivate and keep talent within our local communities."

Fidelity's community recently experienced a derecho (an intense storm that can have hurricane-force winds) that left the bank without internet access for nearly five days. Jack Henry acted quickly, determining how to extract data from each individual computer, providing the access necessary to maintain effective customer service during the natural disaster. Vander Lee commented, "Our customers expect us to be there for them all the time, especially during times of crisis. Jack Henry was extremely responsive, helping to ensure we were up and running and that our customers had uninterrupted access to their finances. It was a strong reassurance of our decision."

Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking, stated, "Growth-focused institutions like Fidelity understand that technology plays an important role in planning for the future; scaling is much more efficient and successful when institutions leverage streamlined systems across the enterprise, instead of relying on one-off point solutions that can't properly communicate with one another. With our core, lending, and deposit solutions, Fidelity provides the comprehensive, intuitive service that customers need to seamlessly manage their finances. We are proud to partner with Fidelity and support them not just when a natural disaster occurs, but through all circumstances, as they maintain their community focus with a more modern infrastructure."

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 multi-billion-dollar institutions. Jack Henry Banking currently serves more than 1,000 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 (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 8,700 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.

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SOURCE Jack Henry & Associates, Inc.

Analyst Contact: Kevin D. Williams, Chief Financial Officer, (417) 235-6652; Press Contact: Barbara Miller, Sr. Corporate Communications Manager, (470) 306-9043