The move will help community banks better compete with larger institutions and fintechs
Monet, Missouri., December May 2022 /PRNewswire/ — Jack Henry™ (NASDAQ: JKHY) announced today that it has been selected by TIB, NA (The Independent BankersBank), the largest banker bank in the United States, to provide technology infrastructure. This technology will allow the community bank to continue to innovate, support its unique growth strategy, and compete with larger financial institutions and fintech companies.
For more than 20 years, Texas-based TIBs have been running on a proprietary core system with highly customizable features. The bank supports nearly 1,400 community banks in all 50 states and the decision to move to Jack Henry’s fully outsourced technology model will more effectively support its near and long-term operational requirements, efficiency goals and growth strategy. The Jack Henry platform also gives the bank a future-proof capability to deliver high-demand consumer and business services such as real-time payments.
Michael G. O’Rourke“Finding a full-fledged technology company that can support our unique business model and operational requirements with customizable, open and proven solutions was very important to us,” said Jack Henry, TIB President and CEO. Jack Henry, like us, Passionate about continuous innovation and our vision for the future of banking. Migrating to their platform will provide TIB with the increased efficiency and scalability we need to meet the future needs of our partner institutions.”
Stacey ZengerJack Henry Senior Vice President and President of Bank Solutions said: “Jack Henry’s delivery of modern financial technology will further enhance TIB’s ability to meet the growing needs of the financial institutions it serves. We are excited about the opportunity to contribute to TIB’s technology infrastructure and future.”
About TIB, NA
TIB, NA is America’s largest and most trusted banker’s bank, offering more than 30 correspondent banking products and services to nearly 1,400 community financial institutions on the east and west coasts. From traditional agency loan assistance to the latest in operations and card technology, TIB has been a one-stop shop for institutions of any size for over 40 years. The TIB can be found at www.tib.bank.
About Jack Henry & Associates, Inc.®
jack henryTM value (NASDAQ: JKHY) is a full-scale financial technology company dedicated to strengthening the connection between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user-centricity—providing banks and credit unions with a vibrant ecosystem with modern capabilities developed in-house and integrated with leading fintechs ability. For more than 45 years, Jack Henry has delivered technology solutions that enable clients to innovate faster, differentiate strategically and compete successfully, while meeting the evolving needs of their account holders. We provide approximately 8,000 clients with innovative people-centered, personalized service and insight-driven solutions that help reduce barriers to financial wellness.More information is available at www.jackhenry.com.
Statements in this press release that are not historical facts are “forward-looking statements.” Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the company’s filings with the Securities and Exchange Commission, including the company’s most recent reports on Form 10-K and Form 10-Q, particularly under “Risk Factors ” under the title. Any forward-looking statements made in this news release speak only as of the date of the news release, and the company expressly disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View the original content and download the multimedia: https://www.prnewswire.com/news-releases/tib-na-the-independent-bankersbank-selects-jack-henry-to-enable-technology-modernization-and-ongoing-innovation – 301692349.html
SOURCE Jack Henry & Associates, Inc.