Local, family-owned $1 billion-asset bank benefits from core-integrated services, modern digital tools, increased automation and efficiencies
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 announced today that it partnered with Dallas-based United Texas Bank (UTB) to provide the bank with its SilverLake System® core along with several additional Jack Henry digital, payments and complementary services.
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James Huggins was named president of the bank eight years ago, when it held $170 million in assets. Today, with $1 billion in assets, the bank’s previous systems were too manual and fragmented to meet its needs. “Our goal was to select a core provider that would deliver the efficiencies and automation needed to grow with our existing resources while providing the advanced digital solutions and strategy to help carry us far into the future. Jack Henry had the suite of solutions we needed, coupled with the open infrastructure to easily work with third parties. We’re moving away from manual processes while providing a more intuitive, comprehensive customer experience.”
UTB will be able to continue to grow without adding resources due to the streamlined processes and efficiencies gained with Jack Henry. Furthermore, the bank completed its conversion in the midst of the pandemic, with 90% of its workforce remote. Huggins noted that it was a remarkably smooth conversion.
Features such as JHA OpenAnywhereTM digital account opening were an added benefit for the bank. Previously, it worked through a third-party account opening vendor and had to manually re-write all forms from the application site to match their back office. The Jack Henry digital services will save the bank multiple layers of labor and time, in addition to providing a better customer experience. And, Jack Henry’s customer-controlled card security features and fully automated wires will improve the bank’s payments services.
Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking, added, “UTB is growing rapidly and can maintain its personal connections while adding sophisticated services with our highly integrated and flexible core. This is an excellent example of a bank that can go toe-to-toe with competitors of all sizes while still maintaining personal service and a focus on relationships. We have similar visions for the future of community banking and look forward to a long and rewarding partnership.”
