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Jack Henry & Associates Establishes Strategic Alliance With Saylent Technologies to Offer Rewards Solution for Financial Institutions
Thursday, November 20, 2008
- Customizable BIG Rewards Programs Enable Financial Institutions to Increase Deposits and Strengthen Customer Loyalty -
MONETT, Mo., Nov. 20 /PRNewswire-FirstCall/ -- Jack Henry & Associates,
Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and
data processing services for financial institutions, today announced it has
established a strategic alliance with Saylent Technologies, Inc., a pioneering
provider of payment intelligence software, that will deliver a fully
integrated customer rewards solution for Jack Henry & Associates' core
clients.
BIG Rewards can increase profitability by attracting and retaining
customers and deposits by offering high-interest checking, cash-back, and
merchandise incentives that reward customers based on their banking
relationships and posted account transaction activity during existing
statement cycles. This Web-based solution is being integrated with Jack Henry
& Associates' core processing systems and will be offered in an ASP
environment managed by Jack Henry & Associates.
According to Tony Wormington, president of Jack Henry & Associates, "BIG
Rewards will enable our financial institution clients to accurately report on
and analyze customer data, transaction behavior, and payment patterns. This
deeper insight can then be used to build stronger, more profitable
relationships by developing customer segmentation strategies and by defining
and implementing customer loyalty and incentive programs. Powerful analytics
capabilities allow the impact of unique rewards programs and changes in
customer behavior to be objectively and accurately measured."
Debbie Wood, general manager of Marketing and Strategic Initiatives for
Jack Henry & Associates, reported, "BIG Rewards is an ideal example of our
commitment to offer contemporary solutions that can generate competitive
advantages for our clients and positively impact their growth strategies.
Integrating Saylent's state-of-the-art solution with our information
processing platforms will provide our clients with a powerful customer
acquisition and retention tool. Our delivery of this solution in a hosted
environment also provides a low cost of ownership and allows our financial
institution clients to focus on program results rather than implementation."
Tyson Nargassans, president of Saylent Technologies, said, "In a
challenging economic climate, financial institutions of all sizes are under
intense pressure to increase deposits, attract and retain customers and
accounts, and cement customer loyalty. This alliance will allow financial
institutions to develop targeted, customized rewards programs that work.
During its 32-year history, Jack Henry & Associates has consistently offered
industry-leading, competitively distinct solutions to its customers and we are
pleased to support that mission and help its valued clients succeed and
prosper in today's highly competitive marketplace."
BIG Rewards utilizes Saylent's Account360(TM) solution as the software
platform. Saylent will also deliver consulting and optimization services to
help Jack Henry & Associates' clients maximize the potential of the payment
intelligence by effectively capturing, analyzing, and understanding payment
activity and using that business information to make customer relationships
more profitable. Saylent will help financial institutions segment their
customer bases and design the right loyalty and rewards program for each
targeted segment.
Jack Henry & Associates also licenses and offers Saylent's Card360(TM)
solution (formerly known as Y-Debit) which automates debit card program
segmentation and trend analysis to its customers. Card360 enables financial
institutions to generate detailed network and merchant-level reporting,
accurately segment cardholders, and produce greater insight into debit
cardholder buying behavior and profitability metrics. With Card360, financial
institutions can develop, implement, and track targeted marketing strategies
and programs to drive interchange revenue and increase wallet share.
About Saylent Technologies, Inc.
Saylent Technologies, based in Franklin, Mass., develops payment
intelligence solutions to help financial institutions attract and retain
accounts. Employing innovative analytics and segmentation techniques,
Saylent's Card360 solution (formerly known as Y-Debit) identifies card usage
patterns by cardholder, targets underperforming or at-risk segments and
enables corresponding marketing programs and metrics. Saylent's Account360
solution provides a holistic perspective on customers across all payment
types, enabling financial institutions to understand and shift customer
behaviors and increase share-of-wallet. For more information, please visit
http://www.saylent.com or call (508) 570-2161.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of
computer systems and ATM/debit card/ACH transaction processing services
primarily for financial services organizations. Its technology solutions serve
more than 8,800 customers nationwide and are marketed and supported through
three primary brands. Jack Henry Banking(TM) supports banks ranging from de
novo to mid-tier institutions with information and transaction processing
solutions. Symitar(TM) is the leading provider of information and transaction
processing solutions for credit unions of all sizes. ProfitStars(R) provides
highly specialized products and services that enable financial institutions of
every asset size and charter, and diverse corporate entities to mitigate and
control risks, optimize revenue and growth opportunities, and contain costs.
Additional information is available at http://www.jackhenry.com.
Statements made in this news release that are not historical facts are
forward-looking information. Actual results may differ materially from those
projected in any forward-looking information. Specifically, there are a
number of important factors that could cause actual results to differ
materially from those anticipated by any forward-looking information.
Additional information on these and other factors, which could affect the
Company's financial results, are included in its Securities and Exchange
Commission (SEC) filings on Form 10-K, and potential investors should review
these statements. Finally, there may be other factors not mentioned above or
included in the Company's SEC filings that may cause actual results to differ
materially from any forward-looking information.
SOURCE Jack Henry & Associates, Inc.
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