IBS Journal November 2015


FirstBank in enterprise-wide IT overhaul


Nashville-based FirstBank is implementing a new core banking system, Silverlake, supplied by a domestic vendor, Jack Henry & Associates. The new solution will be delivered on


an outsourced basis, via the vendor’s JHA Outlink Processing Services. The vendor describes this undertaking


as an enterprise-wide technology overhaul at FirstBank. The $2.9 billion bank has recently com-


pleted the purchase of a small counter- part, Northwest Georgia Bank (a $300 mil- lion institution). FirstBank was ‘in need of a technology partner to help coordinate its recent acquisition and bring together a larger staff under a consistent operating environment’, states Jack Henry. The bank also required ‘a more sophis-


ticated core system’. Wade Peery, director of operations


and technology at FirstBank, observes that customers want to deal with larger banks that offer ‘the same community bank feel to which they are accustomed’. He believes that Silverlake will provide FirstBank with the technology ‘to deliver just that’. ‘Jack Henry Banking worked hard for our business and was dedicated to under-


Nashville, home of FirstBank © Kaldari, Wikipedia


standing our strategic direction through- out the process,’ he adds. Stan Viner, general manager of sales for Jack Henry Banking, comments that ‘the banks


that choose to deploy Silverlake are not in the market for a basic core system, but instead a distinct platform designed to facilitate growth’. Tanya Andreasyan


Jack Henry signs 31 new core software customers in fiscal 2015


Jack Henry’s Symitar division that focuses on the US credit union market has claimed 31 new core software wins in the course of 2015 fiscal year (ended 30th June 2015), bringing the total number of clients to around 850. The majority of these signings (25 to


be precise) were for the Episys core offer- ing, which – according to Symitar – ‘sup- ports more credit unions than any other single platform in the industry’. The system is aimed at small and mid- tier entities, and Symitar says that around


24


100 users today are the credit unions with over $1 billion in assets. Larger users include Trustone Financial


Federal Credit Union in Minnesota and CFE Federal Credit Union in Florida. Of the smaller takers, there is Shell Fed-


eral Credit Union in Texas and TEG Federal Credit Union in New York. TEG FCU’s president and CEO, Ron Fla-


herty, says that Episys provides the cred- it union with ‘the power and openness to react to member needs for the long term’. He adds: ‘Symitar’s culture is open too; we have


© IBS Intelligence 2015 www.ibsintelligence.com


access to executives when we want it and our implementation team has demonstrated a sincere interest to get the job done.’ The remaining six core wins in fiscal


2015 were for CruiseNet, Symitar’s core pro- cessing system for the lower-end market. The system is based on Microsoft .Net. The vendor says there is also an


increased demand in the outsourcing services. Today, over 125 Episys and 70 CruiseNet users are running their systems on a hosted basis.


Tanya Andreasyan


us round-up


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