Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that it is experiencing rapid adoption of Opening Act, its recently introduced online origination solution for deposit accounts and consumer loans. Fifteen of Jack Henryâs financial institution clients have contracted to implement Opening Act.
Tony Wormington, president of Jack Henry & Associates, said, âTodayâs convenience-driven consumers expect their financial institutions to host Internet banking sites that allow them to securely access their accounts, initiate transactions, and conduct research 24-hours-a-day, seven-days-a-week. Jack Henryâs suite of Internet banking solutions enables our clients to satisfy these expectations, and ultimately enhance customer service and convenience, and their competitive positioning. Opening Act, a production-proven addition to our Internet banking platform, is a Web-based origination system that enables consumers to seamlessly originate deposit accounts, consumer and mortgage loans, and credit cards.â
California-based Farmers & Merchants Bank of Long Beach is among Jack Henryâs clients currently implementing Opening Act. According to Robert Graham, senior vice president of Information Systems, âF&M has a strategic initiative to leverage the Internet channel to increase deposits, to cross sell additional products and services to our existing customers, to attract new customers, and to compete more aggressively with national and Web-based banks in our marketplace. After being introduced to Opening Act at the most recent Jack Henry users group meeting, we were convinced that it will effectively and efficiently support this initiative by enhancing our Internet presence with a distinct online service. It also will support our customers and our CSRs with easy-to-use functionality, and provide integration with our SilverLakeÂ® core processing system and our Internet banking platform. We expect Opening Act will become a strategic component of our dynamic e-commerce strategy.â
Opening Act is available through Jack Henryâs exclusive remarketing agreement with MeridianLink. Opening Act is now being cross sold to Jack Henryâs existing bank clients and to the credit unions served by its Symitarâ¢ subsidiary. It is also being sold under Jack Henryâs ProfitStarsâ¢ brand to virtually any financial services organization regardless of asset size, charter, or core processing system.