MONETT, Mo., July 10, 2018 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced that 66 financial institutions have migrated to JHA Card Processing Solutions™ (CPS), its full service and in-house transaction processing platform. The platform offers a comprehensive suite of card tools for fraud mitigation, digital payments, plastics manufacturing and personalization, loyalty programs, and data analytics.
Scott S. McQueen, vice president of operations at First National Bank of Michigan, commented, "Migrating to the enhanced CPS platform was a success. The transition equips First National Bank of Michigan to improve cardholder services and boost interchange earnings by driving further usage. The suite of comprehensive tools, provided with the service that we trust from a partner like Jack Henry & Associates, positions our card portfolio for continued growth and success."
New CPS fraud mitigation tools deploy neural network transaction tracking technology along with cardholder and merchant profiling to identify fraud patterns as they occur. Diana M. Sundy, IT officer at Indiana-based State Bank of Burnettsville, explained, "Fraud is a major challenge for card issuers, and the advanced CPS fraud monitoring and mitigation tools have lifted a weight off my shoulders. The migration went smoothly, and adding proactive fraud detection and alerts saves me hours, if not days."
Jack Henry & Associates has provided competitive card processing products and services for more than 25 years; currently, close to 1,100 financial institutions leverage its card processing solutions. Greg Adelson, vice president of Jack Henry & Associates and general manager of JHA Payment Solutions, added, "CPS provides a single platform for debit, credit, and ATM processing for both bank and credit union portfolios. The solution is tightly integrated to JHA cores and complementary solutions. This offering, combined with JHA's exemplary service, creates a compelling option for financial institutions to evaluate. We are thrilled with the success of our 66 migrations and the excitement that this has created from both our clients and other industry influencers."
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve more than 9,000 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® 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 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.