Growing bank seeks robust core processing system for efficient operations and world-class client services
MONETT, Mo. – Jan. 4, 2017 – Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its Jack Henry Banking® division announced that MVB Bank has selected the SilverLake System® for enterprise-wide automation. The bank will implement the core processing system through JHA OutLink Processing Services™ (JHA OPS), Jack Henry Banking's outsourced offering.
The Fairmont, W.V.-based MVB Bank, with $1.4 billion in assets, was seeking a core system that would align with its strong growth, integration specifications, and efficiency needs. After a thorough assessment of its business and technical requirements, MVB Bank found, with Jack Henry Banking, a core partner that could keep pace with and support its long-term plans, as well as support the service experience demands of its clients.
Larry Mazza, president and CEO of MVB Bank, said, “At MVB Bank, we are constantly looking for opportunities to expand our client services and operate in a well-organized, progressive environment. The SilverLake System provides us with a robust solution to help us to deliver successes for our clients and shareholders. The combination of a strong technology platform and a storied company history cemented our decision to partner with Jack Henry Banking.”
The openness of the SilverLake System allows for greater integration that will enable MVB Bank to optimize its management of multiple vendors, and add the flexibility to run complementary products and services closer with its core.
Coinciding with its core conversion, MVB Bank opted to also install jhaEnterprise Workflow™ to further simplify business processes by fully automating procedures that involve multiple steps or systems. The bank also selected the Banno Platform to unite and power the bank’s entire digital suite. As a result of these implementations, MVB Bank expects the SilverLake System to create personnel resource savings across company functions and to generate notable efficiency gains.
Stacey Zengel, president of Jack Henry Banking, said, “Jack Henry Banking is committed to providing solutions that make banking easier for our client partners, and for their customers as well. By implementing the SilverLake System and additional offerings, MVB Bank can make real operational changes that will impact its bottom line and grow client relationships. And when the bank wants to connect other best of breed technologies with its core, regardless if we are the vendor of choice for those products, we are here to help ensure those integrations are successful and support the bank’s business and growth goals.”
About Jack Henry Banking
Jack Henry Banking, a division of Jack Henry & Associates, Inc.®, is a leading provider of integrated computer systems for banks ranging from de novo to multi-billion dollar institutions. Jack Henry Banking currently serves approximately 1,200 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve approximately 10,500 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a 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. 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.