Functionality


There has been a move over the last few years to standardize a common look and feel across the company’s solutions, called Xperience™. Dubbed Enterprise Users Xperience, it was applied to Silverlake, with around 200 users having adopted it by August 2014. Next in line to receive Xperience was CIF 20/20 customers. By this stage, a number of Jack Henry’s other applications were within the Xperience layer (CRM, document imaging, internet banking, teller). “A lot of the design and heavy-lifting has been about the user interface,” said Mark Forbis, Chief Technology Officer of JHA, “but it is more about separation of layers, providing flexibility for the future and new ways of integration.” It provides a single look and feel so users aren’t concerned if there are multiple systems behind it, he added. After CIF 20/20, the intention is to apply Xperience to Core Director. This wouldn’t be such a change for these users, apparently, as Core Director already had an advanced user interface and, indeed, some of the features were used as the basis for the Xperience design. In July 2016, Jack Henry announced a refreshed SilverLake System, designed to provide a modern, dynamic core environment. The new system enables real-time transaction processing, facilitates better visibility of branch banking via an enterprise mobile strategy with its Branch Anywhere™ module, provides additional layers of core customization with PowerOn® functionality, and streamlines multi-step business processes with enterprise-wide automation through jhaEnterprise Workflow™.


Besides this, with respect to the overall product suite: ProfitStars


As mentioned previously, in 2004, JHA began its


targeted acquisition strategy. This strategy, dubbed the “focused diversification acquisition strategy” resulted in the acquisition of a number of companies and products that can be sold outside JHA’s core client base. ProfitStars’ solutions and services include JHA Payment Solutions™, Information Security & Risk Management, Online & Mobile, Lending, Financial


Performance, and Imaging/Data


Management. JHA Payment Solutions™: Payments is one of JHA’s


fastest growing business lines. From debit card and online bill payments to emerging payment channels like person- to-person (P2P) and mobile remote deposit capture, they offer a suite of solutions that support a range of payment channels and remittance types. In March 2016, the group announced a partnership with The Clearing House (TCH) which is building a new real-time payment system that they will own and operate. JHA is also building a payments hub that provides payment capabilities for sending and receiving transactions in real time and around-the-clock. In November 2016, JHA also announced a partnership with


98


Early Warning to resell their ZelleSM Network and enable JHA’s financial institution customers to send faster P2P payments. In May 2017, JHA entered into a strategic services agreement with First Data® and PSCU® − a credit union service organization − to provide full-service credit and debit card processing to all existing core bank and credit union customers on a single platform, as well as expand their card processing platform to financial institutions outside the JHA core customer base. Digital Strategy: JHA has been gradually moving to common components across its banking and credit union businesses. It has clear offerings for areas such as CRM, document imaging, internet banking (NetTeller®), teller, and bill payment (iPay, which JHA acquired in 2010). In March 2014, JHA announced that they completed the acquisition of Banno, an Iowa-based company that provided data-enriched Web and transaction marketing services with a focus on the mobile medium as its principal means of delivery. The Banno™ Platform is a fully integrated digital platform that integrates with JHA’s suite of online and mobile solutions to provide digital marketing and services and support. With the Banno Platform, financial institutions can launch mobile-first functionality in 120 days or less. Information Security and Risk Management: JHA offers


Information Security and Risk Mitigation suite of solutions which include its Centurion disaster recovery and business continuity solutions and its Gladiator® suite. Gladiator® Hosted Network Solutions™ is one of the more recent strategic additions to the Gladiator suite. This service provides a hosted IT infrastructure that delivers network essentials – including servers, storage, network, and operating systems – as an on-demand service and enables financial institutions to move their IT infrastructures to JHA’s secure cloud computing environment. The most notable recent enhancement to JHA’s fraud suite was the addition of JHA Enterprise Risk Mitigation Solutions™. Announced in October 2017, this solution is fully hosted anti-money laundering (AML), fraud identification, and analysis solution for regional and community financial institutions.


Uptake


Jack Henry has been increasingly successful in promoting the hosted version of Silverlake. A number of takers in 2013 were for this, including Vermont-based Merchants Bank ($1.67 billion in assets), to replace its 23-year-old deployed Fiserv Signature platform, and Bank of the Sierra in California, with $1.4 billion in assets. Maine-based Northeast Bank ($720 million in assets) also took Silverlake on an outsourced basis during the year. Other banks to move to Silverlake in 2013 included Univest Corporation of Pennsylvania (one of the larger ones, at $2.2 billion in assets); North Carolina-based NewDominion Bank; Georgia-based First National Bank of Coffee County; Athens


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


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