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Bar Harbor Bank & Trust Converts to Jack Henry Banking's SilverLake System

$3.4 billion bank opts for greater flexibility and processing power, entrusts Jack Henry Banking to move digital initiatives forward

MONETT, Mo., Nov. 2, 2017 /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 Jack Henry Banking® division today announced that Bar Harbor Bank & Trust has implemented the SilverLake System® for its robust processing power and mastered flexibility.

With 14 branches along the coast of Maine, the $3.4 billion-asset institution recently acquired a 34-branch bank that was already partnered with Jack Henry Banking. Bar Harbor was running a competitive platform in-house and was simultaneously facing an imminent investment to its IT infrastructure. The bank chose to deploy the SilverLake System in an outsourced environment, via JHA OutLink Processing Services™ (JHA OPS).

Rick Maltz, COO and executive vice president of Bar Harbor Bank & Trust, stated, "SilverLake is clearly a superior platform, and moving to an outsourced model has also presented its own immediate value. Outsourcing provides us a simplified model without sacrificing the quality and the support of our core, helping us efficiently drive business forward in a modern, integrated environment."

Bar Harbor selected additional services from Jack Henry Banking to run in an outsourced environment, including Branch Anywhere™, an enterprise mobility solution; jhaEnterprise Workflow™ to automate multi-step business processes; and iTalk™ for a next-generation interactive voice response solution.

The bank is trusting Jack Henry Banking to quickly advance its digital initiatives overall. Bar Harbor is the latest financial institution to move forward with Banno Mobile. The native iOS and Android app provides a quick, cost effective way to deploy mobile services; Maltz referred to it as "the best mobile product available." Bar Harbor is also implementing Jack Henry Banking solutions across bill pay, online banking, and remote deposit services, among others.

Stacey Zengel, president of Jack Henry Banking, added, "The initiatives underway at Bar Harbor are transforming the way the bank operates, interacts with customers, and takes new services to market. Jack Henry Banking is excited to support the bank's vision and provide the necessary tools to carry out its plans for the future."

About Jack Henry Banking
Jack Henry Banking, a division of Jack Henry & Associates, Inc., is a leading provider of integrated computer systems for banks ranging from de novo to multi-billion dollar institutions. Jack Henry Banking currently serves more than 1,100 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.

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 approximately 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.

JKHY-BA

 

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SOURCE Jack Henry & Associates, Inc.

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