Open and flexible technology will automate
processes and improve customer experiences
MONETT,
Mo., April 3, 2024 /PRNewswire/ -- Jack
Henry™ (Nasdaq: JKHY) announced today that First State
Bank has selected Jack Henry to
deliver a more holistic banking experience for both retail and
commercial customers and drive growth.
First State Bank, established in 1933 in New London, Wisconsin, is in the midst of a
major strategic shift. A wave of bank consolidation in Northeastern Wisconsin has left a void for a
true community bank in the area. First State Bank's leadership team
saw an opportunity to strengthen its deep community roots and
expand its customer base by offering competitive services with the
care and personalization for which they are known. To meet these
community needs, the bank plans to invest in talent and new
technology for increased efficiencies and to deliver an improved
banking experience.
Jack Henry's modern and highly
customizable core processing solution will help the $550 million-asset bank automate processes and
boost efficiencies, while consumer-facing products like the Banno
Digital Platform™ will drive the delivery of a more seamless,
user-friendly, and cohesive banking experience.
"After an in-depth competitive analysis, we gravitated towards
Jack Henry because of their
innovative solutions and future direction, which will help us
deliver a more holistic, guidance-based banking experience, as
opposed to a transactional one," said Matthew Lemke, President and CEO at First State
Bank. "The final deciding factor was our cultural alignment.
Jack Henry's top-down culture of
transparency and round-the-clock support for both employees and
customers fit with what we are trying to build within our
organization."
First State Bank will have access to over 950 API-integrated,
third-party fintechs within Jack
Henry's open ecosystem, a network which will help them
further differentiate themselves in their current and future
markets. Lemke explains, "Jack
Henry's openness and the option to seamlessly integrate with
third-party vendors of our choice will give us a competitive
advantage. It also shows that Jack
Henry truly understands the community banking space and
recognizes our desire to evolve."
"Community banks like First State Bank want to fill the void
left by systemic consolidation in their local areas but need modern
and open technology to match the needs of customers and compete
with digital alternatives," said Stacey
Zengel, senior vice president of Jack Henry and president of Bank Solutions. "At
Jack Henry, we understand the important role that community banks
have in their local communities and are committed to helping them
compete and meet the ever-evolving needs of their
accountholders."
About Jack Henry &
Associates, Inc.®
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial
technology company that strengthens connections between financial
institutions and the people and businesses they serve. We are an
S&P 500 company that prioritizes openness, collaboration, and
user centricity – offering banks and credit unions a vibrant
ecosystem of internally developed modern capabilities as well as
the ability to integrate with leading fintechs. For more than 47
years, Jack Henry has provided
technology solutions to enable clients to innovate faster,
strategically differentiate, and successfully compete while serving
the evolving needs of their accountholders. We empower
approximately 7,500 clients with people-inspired innovation,
personal service, and insight-driven solutions that help reduce the
barriers to financial health. Additional information is available
at www.jackhenry.com.
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SOURCE Jack Henry &
Associates, Inc.