Business
Jack Henry Adds New Policy Management Solution to Governance, Risk, and Compliance Suite
Community financial institutions can now automate policy management to gain efficiency and transparency MONETT, Mo., Dec. 15, 2022 /PRNewswire/ -- Jack Henry™
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"Community financial institutions can now automate policy management to gain efficiency and transparency\nMONETT, Mo., Dec. 15, 2022 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) today launched a new policy management solution to its Governance, Risk and Compliance (GRC) Suite. It will streamline policy creation, review, approvals, attestations and exceptions with workflows, documentation, and storage within a single platform. As a result, financial institutions can maintain compliance with improved ease, consistency and accuracy.\n\n \n \n \n \n \n \n\n \nFinancial institutions will have a heightened need for secure, convenient and flexible policy management practices as new policies are employed to maintain compliance with regulatory standards. Jack Henry's policy management solution makes it easier to manage all policies throughout their lifecycle by streamlining the annual review and update process to appropriately reflect regulation and control changes. Users can also use the interactive dashboard analytic capabilities for further insight into policy status, reviews, exceptions, and approvals. The solution also serves as a document repository for all financial institution polices as well as providing policy attestation functionality.\nFriendship, Ind.-based Friendship State Bank is already seeing improved consistencies across the organization with Jack Henry's new policy management solution. Rebecca Boyce, Data Processing Manager at the bank, said, \"Jack Henry's entire GRC Suite helps boost efficiencies and reduce stress on our internal operations, while mitigating risk. The addition of GRC Policy Management will help us create and manage financial policies and procedures that align with our organization's overall mission. It also equips us with the necessary information to pass upcoming examinations, allowing our employees to focus on building and nurturing client relationships.\"\nThe new solution is fully integrated with Jack Henry's other GRC solutions, including risk management, business continuity management, and vendor management, to offer community and regional financial institutions a holistic view of risk and allow for greater efficiency in managing security, operations, and controls.\nAllen Eaves, managing director of information security and technology at Jack Henry, said, \"Improving operational efficiencies is a ...