Expanded relationship will deliver greater
efficiencies, new digital capabilities, and stronger
connections
MONETT,
Mo., April 19, 2022 /PRNewswire/ --
Jack Henry & Associates,
Inc.® (NASDAQ: JKHY) announced today that Old Second
National Bank has expanded its collaboration with Jack Henry to support the bank's digital and
growth strategy.
Among the largest locally headquartered banks in the
Chicago area, Old Second benefited
from a seven-year modernization journey, improving its technology
infrastructure to support organic growth and acquisitions. In 2015,
the bank began by migrating its Jack
Henry core to the private cloud and shifting a historically
retail-focused offering to include commercial banking capabilities.
Over the last two years, Old Second has expanded its relationship
with Jack Henry, resulting in:
- Improved operational efficiencies through automating with scale
using jhaEnterprise Workflow™;
- Access to leading Jack Henry
banking services such as card processing solutions;
- New digital capabilities through the Banno Digital Platform™;
and
- Stronger connections with third-party solutions using
Jack Henry's open API
infrastructure.
Andrew Maychruk, executive vice
president and chief technology officer at Old Second National Bank,
commented, "We needed an open, progressive technology architecture
in order to differentiate and meet the demands of our account
holders. Jack Henry understands our
mindset that past industry practices are no longer sustainable, as
is evidenced in Jack Henry's
recently announced technology modernization strategy. They take
time to listen, understand our unique challenges, and work with us
to develop a strategy that meets the needs of our company and
account holders."
Old Second is dedicated to providing its account holders with
all of the conveniences of a digital self-service model while
providing personal support in the moment of need. Embedding modern
fintech solutions into its digital platform through Jack Henry's ecosystem – Jack Henry provides connectivity to more than
850 fintechs – is expected to enable the bank to continue to meet
the needs of account holders in the future.
Stacey Zengel, senior vice president of Jack Henry & Associates and president
of Jack Henry Banking, said, "Old Second National Bank has
been on a growth trajectory and its technology plan positions the
bank to differentiate and serve account holders in its
markets. The bank shares in our vision to keep evolving so
that community-based financial institutions are the focal point of
financial experiences. This open, embedded experience is how we win
at banking-as-a-service."
About Jack Henry &
Associates, Inc.
Jack Henry
(NASDAQ:JKHY) is a leading SaaS provider of technology solutions
primarily for the financial services industry. We are an S&P
500 company that serves more than 8,000 clients
nationwide through three divisions: Jack Henry
Banking® provides innovative solutions to
community and regional
banks; Symitar® provides
industry-leading solutions to credit unions of all sizes;
and ProfitStars® offers highly
specialized solutions to financial institutions of every asset
size, as well as diverse corporate entities outside of the
financial services industry. With a heritage that has been
dedicated to openness, partnership, and user centricity for more
than 40 years, we are well-positioned as a driving market force in
future-ready digital solutions and payment processing services. We
empower our clients and consumers with the human-centered,
tech-forward, and insights-driven solutions that will get them
where they want to go. Are you future ready? Additional information
is available at www.jackhenry.com.
About Old Second Bancorp, Inc.
Old Second Bancorp,
Inc. is a corporation organized under the laws of the State of Delaware in 1981 that serves as the
bank holding company for its wholly-owned subsidiary bank, Old
Second National Bank. Old Second National Bank (the "Bank") is a
national banking association headquartered in Aurora, Illinois, that operates through 63
banking centers located in Cook,
DeKalb, DuPage, Kane,
Kendall, LaSalle and Will counties in Illinois.
Old Second National Bank is a full-service banking business
offering a broad range of deposit products, trust and wealth
management services, and lending services, including demand, NOW,
money market, savings, time deposit and individual retirement
accounts; commercial, industrial, consumer and real estate lending,
including installment loans, agricultural loans, lines of credit,
lease financing receivables and overdraft checking; safe deposit
operations, and an extensive variety of additional services
tailored to the needs of individual customers, such as the
acquisition of U.S. Treasury notes and bonds, money orders,
cashiers' checks and foreign currency, direct deposit, discount
brokerage, debit cards, credit cards, and other special services.
Our lending activities include making commercial and consumer
loans, primarily on a secured basis. Commercial lending focuses on
business, capital, construction, inventory, health care and real
estate lending, as well as lease financing. Installment lending
includes direct loans to consumers and commercial customers.
Cautionary Note Regarding Forward-Looking
Statements
Statements made in this news release that are
not historical facts are forward-looking information and can be
identified by words such as "will," expected to," "positions," and
"plans," or similar statements that indicate future periods. Actual
results may differ materially from those projected in any
forward-looking information. There are a number of important
factors that could cause actual results to differ materially from
those anticipated by any forward-looking information, including,
but not limited to changes in customer expectations and
preferences. Additional information on these and other factors,
which could affect Jack Henry's or
Old Second Bancorp, Inc.'s results, are included in their
respective 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 Jack Henry's or Old Second'
Bancorp, Inc.'s SEC filings that may cause actual results to differ
materially from any forward-looking information.
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SOURCE Jack Henry &
Associates, Inc.