MONETT, Mo., Feb. 25, 2020 /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 that Arkansas-based Simmons
Bank has selected the Banno Digital Platform™ as part of its
strategy to build a digital presence that supports an aggressive
growth trajectory.
The $21.2 billion-asset bank has
been growing rapidly and, to continue the pace, wanted a digital
experience that customers could enjoy while maximizing the
channel's potential for cross sales, account origination, and
selling in the context of service. The Banno Digital Platform
offered the experience the bank was looking for along with tight
integrations into its Jack Henry
core, the SilverLake
System®.
Simmons took a customer-first approach to launching the mobile
app, inviting customers to try the new version while leaving its
previous app fully functional. Customers were eager to make the
change; within the first 30 days, 80 percent of digital users
logged onto the Banno Mobile app. Within 45 days, 93 percent
voluntarily logged on. The simple, streamlined interface also
fostered adoption across other services. For instance, Simmons
experienced more mobile remote deposit capture enrollments in one
week than it realized in the previous two months.
Alejandro "Alex" Carriles, executive vice president and chief
digital officer at Simmons, commented, "It's not often that
customers say they love their banking experience, but with the
Banno Digital Platform, we have proudly encountered that time and
again. Our customers are logging in an average of 1.43 times a day,
they're having fun exploring all that's available. This response
validates that we are meeting – even exceeding – our customers'
expectations and positioning for growth in a competitive
market."
Carriles noted that the bank is experiencing a lot of activity
around the Banno Conversations℠ feature, a unique and secure way to
facilitate authenticated chat messaging with a local bank
representative in real-time. He added, "Our digital experience is
not about deferring customers to self-service channels; instead,
we're offering greater access to banking services and to our
representatives. We are dedicated to being available to customers
during their moments of need, which in turn will empower us to
better monetize the digital channel."
Simmons will soon add the Banno Online™ counterpart of its app,
which will mirror Banno Mobile with the identical functionality,
along with a suite of Jack Henry
payment solutions to complete its transition to more accessible
digital services. The deep integration will enable the bank to more
easily manage digital content, security, data-driven marketing, and
more.
Greg Adelson, chief operating
officer of Jack Henry, commented,
"Simmons is standing out with its digital experience, not just in
comparison with peers, but financial institutions of all sizes.
KPIs, such as app-launch-to-app-usable times, stand out to
customers – the Banno Digital Platform's apps launch and are usable
in less than a second. The platform's ability to offer service
without delays and lag time, combined with real-time personal
assistance, is a combination that surpasses what big techs and
mega-banks are doing today. It's this kind of service that will
enable a bank like Simmons to continue to win business and truly
please customers."
About Simmons Bank
Simmons Bank is an Arkansas state-chartered community banking
organization that began in 1903. Through the decades, Simmons has
developed a full suite of financial products and services designed
to meet the needs of individual consumers and business customers
alike. Simmons has grown steadily and today operates more than 200
branch locations throughout Arkansas, Colorado, Illinois, Kansas, Missouri, Oklahoma, Tennessee and Texas. Simmons is the subsidiary bank for
Simmons First National Corporation (NASDAQ: SFNC), a publicly
traded bank holding company headquartered in Pine Bluff, Arkansas, with total consolidated
assets of $21.3 billion as of
Dec. 31, 2019. For more information,
visit https://simmonsbank.com/.
About Jack Henry &
Associates, Inc.
Jack Henry (NASDAQ:JKHY) is a
leading provider of technology solutions primarily for the
financial services industry. We are an S&P 500 company that
serves approximately 9,000 clients nationwide through three
divisions: Jack Henry Banking® supports banks
ranging from community banks to multi-billion-dollar institutions;
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.
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.
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SOURCE Jack Henry &
Associates, Inc.