JHA’s Core Platforms


JHA offers five core processing systems through their Jack Henry Banking and Symitar brands which support community banks and credit unions, respectively. SilverLake System, CIF 20/20, and Core Director offered by Jack Henry Banking serves banks ranging from zero (de novos) to $50 billion in assets. Symitar’s Episys and CruiseNet core platforms serve credit unions of all sizes.


SilverLake System SilverLake System provides customizable, enterprise- wide automation to around 400 banks from community banks to multi-billion-dollar institutions, more than 30 percent of domestic banks exceeding $1 billion in assets. There have also been occasions when SilverLake has been applied to credit unions, typically when a credit union has moved increasingly into an area such as commercial lending and might implement this portion of SilverLake on an outsourced basis. Banks have the option to fully customize the system as per operational requirements or the system can be implemented for OutLink customers as an “off-the-shelf” solution. SilverLake generates one of the highest client retention rate among IBM Power system- based solutions.


CIF 20/20 CIF 20/20 is a parameter-driven banking platform and


is targeted at community banks with under $500 million in assets. Also running on iSeries, CIF 20/20 is more of a turnkey system and caters to approximately 500 banks ranging from community banks to multi-billion-dollar institutions. With the tier sizes, there is flexibility, so CIF 20/20 has some banks with assets in excess of $1 billion but these are an exception. Conversely, SilverLake has some banks considerably below the $500 million mark but, again, these are relatively few.


Core Director Core Director is a Windows-based banking platform that supports progressive community banks – ranging from de novo banks to institutions with assets approaching $1 billion. Used by approximately 200 banks, the core processing solution provides intuitive point-and-click operation to ensure ease-of-use and expedite initial and ongoing training. There is demographic overlap between CIF 20/20 and Core Director. However, there is a significant technology difference as Core Director is Windows-based. Its target sector is again banks of up to $500 million in assets. A relatively small number of customers move from


Core Director or CIF 20/20 to Silverlake and even between Core Director and CIF 20/20, with Jack Henry having programmes in place for such migrations. This is typically


US Financial Services Technology Market Report | www.ibsintelligence.com 97


because a bank wants to compete in new markets or has particular growth plans, said


integrated complementary


Mark Forbis, Chief


Technology Officer of JHA. There is a single development team across the two Power-i-based systems (formerly iSeries) and a separate one for Core Director. Additionally,


products


and services enhance the functionality of these core systems in the areas of Retail Delivery, Online & Mobile, Imaging, Payment Solutions, Information Security & Risk Management, Business Intelligence & Financial Performance, and Training & Consulting. Through internal product development, acquisitions, and alliances with companies offering niche solutions that complement the company’s proprietary solutions, the division frequently introduces new products and services. JHA maintains an overall API-driven strategy to


the marketplace of third-party providers (TPP). Core clients can leverage existing technology investments through interface platforms such as jXchange™ (banks) and SymXchange™ (credit unions) which provide open connectivity between the core systems, complementary solutions, and third-party niche solutions delivering online and mobile banking alternatives as well as voice banking with Amazon’s Alexa, to name a few. Instead of delivering a generalized API to the marketplace, JHA engages directly with the TPP by the client financial institution, adding a cost associated with TPP integration. Once established, it can then be licensed by other core clients. Jack Henry Banking and Symitar have established connectivity with several TPPs through their respective interface platforms. Its core platforms have earned notable industry recognition.


Outsourcing JHA’s core platforms can be installed in-house or implemented through JHA OutLink Processing Services™ (JHA OPS) or Symitar® EASE™ for the Episys core. However, there has been a trend among financial institutions to shift from in-house deployments to outsourcing due to benefits such as ongoing hardware upgrades, fast go-to-market delivery of products and services, access to industry, and regulatory compliance. JHA OPS and Symitar EASE have a national presence that includes an extensive network of data centers, image-enabled item processing centers, training centers, and disaster recovery hot sites.


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