Accounts receivable financing solution added to Preferred Service Provider relationship -
MONETT, Mo., Aug. 18, 2011 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, today announced its ProfitStars® division has expanded its Preferred Service Provider relationship with the Independent Community Bankers of America (ICBA). The new agreement adds ProfitStars' BusinessManager® to the website design and hosting, remote deposit capture, and security services already provided to ICBA member banks at exclusive discounted rates.
BusinessManager is a Web–based accounts receivable financing solution that enables banks to maintain lasting, profitable relationships with small- and mid-sized business customers. Backed by more than 20 years of experience, BusinessManager has helped hundreds of community banks generate recurring fee income and supports creditworthy businesses with the management and funding of accounts receivable financing alternatives.
Dan Clancy, ICBA executive vice president of services, explained, "There is a great market opportunity for community banks to evolve their approach to traditional lending and capitalize on the possibilities available with small businesses. Providing BusinessManager to our members was a logical progression of our relationship with ProfitStars. Not only does the solution contribute to our members protecting and growing their margins, but it is also a significant risk mitigation tool, giving financial institutions more knowledge and control over their lending operations."
Select ProfitStars' solutions have been ICBA preferred services since 2005. The agreement was recently extended through 2015 to offer member banks exclusive discounts on remote deposit capture, security, and website design and hosting services as well as added discounts to specific complementary solutions, including ProfitStars' Enterprise Payments Remote Deposit Capture Processing Services and Gladiator Phishing and Defense Service.
According to David Foss, president of ProfitStars, "We are happy to once again expand our relationship with the ICBA and its member banks. The addition of BusinessManager to our Preferred Service Provider agreement provides an ideal and proven solution for community banks to further enhance their profitability."
ProfitStars maintains its Commercial Lending Online Knowledge Center to educate financial institutions on moving beyond traditional lending strategies, whether diversifying their portfolio or expanding their commercial business base by bringing in new deposits, growing earnings, and enhancing asset quality. Found at http://discover.profitstars.com/commercial-lending-knowledge-center, the microsite creates a central repository of best practices for financial institutions on how to lend efficiently without sacrificing quality or performance.
About ProfitStars
As a diverse, global division of Jack Henry & Associates, ProfitStars combines JHA's solid technology background with the latest breakthroughs in four performance-boosting solution groups – Financial Performance, Imaging and Payments Processing,Information Security and Risk Management, and Retail Delivery. Explore the power of ProfitStars-enhanced performance atwww.profitstars.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 financial services organizations. Its solutions serve more than 11,300 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar™ is the 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. iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. Additional information is available atwww.jackhenry.com.
