Monett, Mo. â April 9, 2009 â Jack Henry Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that Brattleboro Savings Loan has selected Jack Henry Banking as its technology partner and the SilverLake System as its technology platform. This Vermont-based bank, which has more than $180 million in assets, will implement SilverLake through Jack Henry Bankingâs outsourced offering.
According to Daniel C. Yates, president and CEO of Brattleboro Savings Loan, âOur bank is strategically focused on expanding our customer relationships and increasing market share by cross selling more products and services. Our goal is to expand our market beyond Brattleboro and Springfield by competing more aggressively in the markets we serve, and attract more small and medium sized business customers, along with more people interested in technologically advanced banking services. We determined that the ability to accomplish these four key components of our business strategy would require more sophisticated and contemporary technology. We conducted a detailed and pragmatic evaluation of the available outsourced solutions and determined that Jack Henry Banking has the strongest and highest quality products and services, provides the most solid and consistent service and support, and has incredibly strong references. Our ultimate decision was also largely influenced by our attendance at their national client conference last October which provided us with the opportunity to have informative and candid conversations with numerous bankers that had selected Jack Henry Banking as their technology provider and currently use the SilverLake System to âpowerâ their banks.â
Stan Viner, general manager of sales for Jack Henry Banking, said, âThis unprecedented time in the banking industry offers some unique opportunities for community banks to take considerable market share from the nationâs largest institutions. Community banks offer the personal service and the stability todayâs consumers are looking for. But we believe community banksâ ability to retain these customers after the economic crisis will be largely based on their ability to provide a âbest of both worldsâ customer experience â the service-driven, local appeal of a community bank combined with the sophisticated financial products and convenience-driven services provided by big banks. We believe institutions like Brattleboro Savings Loan are positioning themselves for a very bright future by complementing their community bank culture with a technology platform that enables them to provide products and services that are comparable to those offered by the biggest banks in their market.â
In addition to SilverLake, Brattleboro Savings Loan will initially implement an array of Jack Henry Bankingâs complementary solutions including the Vertex Teller Automation System, StreamLine Platform AutomationÂ®, SynapsysÂ® sales force automation, NetTeller Online BankingÂ£, the goDoughÂ® mobile banking solution, and the jhaPassPort suite of ATM and debit card solutions.