Private cloud helps bank improve efficiencies and better navigate security, compliance and changing market demands
MONETT, Mo., Sept. 20, 2022 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today that One Florida Bank continues to benefit from migrating to the company's Gladiator Hosted Network Solutions™ (HNS) to manage its IT infrastructure in Jack Henry's private cloud environment.
One Florida Bank started as a small, locally owned bank with a strong vision for growth. A strategic rebrand and a new management team in 2019 more than tripled its asset size to $1.4 billion, becoming the largest community bank in Central Florida. This rapid growth accelerated the bank's need for a technology platform that would boost security, strengthen compliance, and free up internal staff to deliver relationship-based banking.
HNS has helped One Florida Bank focus more on strategic initiatives and continue its expansion over the last two years. Eric Nadeau, CFO and COO of the bank, said, "With Jack Henry's private cloud our bank has been able to prioritize growth strategies and customer relationships while keeping pace with technological advancements, compliance and costs, cybersecurity, and disaster recovery models."
Nadeau continues, "This move has also been instrumental in proving to regulators that our network environment and our information security practices are sound and able to support our rapid growth. Our IT examination went very smoothly this year due to Jack Henry's support. We look forward to continuing this strong performance and enhancing a solid framework that ensures we can grow our organization safely and securely."
HNS also helps community financial institutions better navigate the new guidance from the FFIEC that reflects the changing technological environment and increasing need for security and resilience, including architectural design, infrastructure implementation, and operation of information technology systems.
Matt Riley, President of Complementary Solutions at Jack Henry, said, "Jack Henry's cloud solutions are proof of our commitment to providing community financial institutions with the modern technology they need to respond to business opportunities and challenges and meet accountholder expectations securely. We are proud to be a part of One Florida Bank's growth, providing them with the technology they need to scale while strengthening security, compliance, and business resiliency."
About Jack Henry & Associates, Inc.®
Jack Henry™ (NASDAQ: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 45 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 8,000 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are "forward-looking statements." Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the Company's Securities and Exchange Commission filings, including the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Any forward-looking statement made in this news release speaks only as of the date of the news release, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.
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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: Mark Folk, Sr. Manager Corporate Comm, (704) 890-5323