Capital City Bank Installs Jack Henry Banking's Risk Manager Significant Account Monitoring Solution

12 November 2008

Jack Henry Banking, a division of Jack Henry Associates, Inc.® (Nasdaq: JKHY) that provides integrated computer systems for banks ranging from de novo to mid-tier institutions, today announced that Florida-based Capital City Bank has installed the recently introduced Significant Account Monitoring module of the Risk Manager solution. Risk Manager is Jack Henry Banking’s modular enterprise risk management solution that automatically monitors operational and compliance risks, and automates exception management.

Risk Manager, offered to Jack Henry Banking’s SilverLake System® clients, now consists of two distinct modules – the new Significant Account Monitoring module and the General Ledger (GL) Settlement module. The Significant Account Monitoring module is a fully automated compliance solution that enables banks to seamlessly identify, research, and report exceptions related to general ledger transactions. This module allows banks to set rules that are tailored to each bank’s individual requirements. The GL Settlement module provides automatic identification, research, and clearing of operational exceptions in loans, certificates of deposit, and checking account transactions and the associated general ledger entries. These automated modules streamline the review of exception transactions using a Web-based case management tool that significantly reduces the number of staff hours historically required to meet compliance with bank-specific internal controls, Sarbanes-Oxley, and other regulatory directives.

According to Cindy Pyburn, president of Capital City Services Company, a subsidiary of Capital City Bank with more than $2.5 billion in assets, “We have been using Risk Manager for a year now. We deployed the GL Settlement module in September 2007 and have seen up to a 90 percent savings in the time required to identify and resolve our DDA, loan, and CD balancing exceptions. With the new Significant Account Monitoring module, we are seeing additional benefits not only in the reduction of time we spend monitoring and reviewing our general ledger transactions but also in our ability to identify potentially risky transactions not captured in our manual review process. The ability to use custom rules to monitor and flag general ledger transactions has identified even the smallest of transactions improperly posted to our general ledger, improving our ability to assure the accuracy of our financial reporting and to meet our regulatory reporting and Sarbanes-Oxley compliance requirements.”

Stan Viner, general manager of sales for Jack Henry Banking, said, “Risk Manager enables banks to respond to two of today’s top-of-mind business challenges – mitigating and managing risk, and improving operational efficiencies. We are excited about the addition of the new Significant Account Monitoring module to our product offering and the ability to complement the GL Settlement module with this fully automated compliance solution. We are confident this new module will exponentially increase the tangible benefits our bank clients realize with Risk Manager – even extremely efficient and progressive banks like Capital City Bank.”

Banks can implement Risk Manager’s Significant Account Monitoring and GL Settlement modules individually or as an integrated product suite.

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