MONETT, Mo., Oct 05, 2010 /PRNewswire via COMTEX News Network/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that its ProfitStars division, which provides solutions to improve the performance of financial institutions and diverse corporate entities, has introduced Optimizer at the FinovateFall 2010 conference. Optimizer is a portal that accommodates multiple ProfitStars data performance systems and platforms. As a result, financial institutions like Oak Harbor, Wash.-based Whidbey Island Bank can now seamlessly integrate information to improve reporting and analysis capabilities, drive profitability, and provide insight into solving business problems.
ProfitStars was selected to present Optimizer at FinovateFall as one the most innovative new ideas in financial and banking technology. The solution enables CEOs, CFOs, financial analysts, sales managers, and other financial personnel to monitor, analyze, plan, and execute profit-enhancing plans through one portal, one dashboard, and a single sign-on. Key performance indicators -- such as loan and deposit mixes and volumes, income, wallet share, and average account profitability -- are monitored and presented so that users can instantly access more data points. They can also launch from the portal into other ProfitStars solutions, including PROFITstar(R) Budget, PROFITability(R), the Margin Maximizer Suite(TM), Relationship Profitability Management (RPM), and Synapsys(R).
Whidbey Island Bank, a Jack Henry & Associates customer since 1994, elected to implement the solution to improve the reporting for its 26 branches, located throughout six counties in Northwest Washington. In June of this year, the $1 billion bank put Optimizer into production.
Optimizer is powered by Microsoft SharePoint technology to accommodate data sources from different ProfitStars systems and platforms. Its flexible toolset allows business users to access domain-focused information and interactive objects such as dashboards, collaborative tools, reports, and the analytics needed to gain instant insight into business indicators. The SharePoint platform makes it easy for users to get up to speed quickly by integrating with popular Microsoft Office system files and programs.
According to Joe Pagano, managing director of the Banking and Capital Markets Worldwide Financial Services Group for Microsoft, "Consolidating reporting systems have long been a critical challenge facing the banking industry. Information silos still exist across different lines of business in banks today. Using Microsoft's platform provided through this partnership, ProfitStars is able to quickly integrate these disparate silos and unlock value by arming decision makers with information that will enhance profitability and overall operational efficiency."
David Foss, president of ProfitStars, added, "Reporting and managing vital performance indicators are paramount to a financial institution's success. Now, with Optimizer, these indicators can all be viewed in one centralized, convenient location. This enables key individuals to quickly make better decisions about how to positively affect profitability."
About ProfitStars
ProfitStars, a division of Jack Henry & Associates, Inc., provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.profitstars.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 11,200 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking(TM) supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar(TM) is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. 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.
SOURCE Jack Henry & Associates
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