Business
Jack Henry Reaches Milestone of 150 Banks and Credit Unions Moving Network Infrastructure to Its Hosted Network Solutions Environment
FirstBank and Innovations Credit Union among those moving to the private cloud to reduce costs, boost efficiencies and better navigate security, compliance
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"FirstBank and Innovations Credit Union among those moving to the private cloud to reduce costs, boost efficiencies and better navigate security, compliance and changing market demands\n\n\nMONETT, Mo., Jan. 5, 2021 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its ProfitStars® division announced that 150 banks and credit unions have selected Gladiator Hosted Network Solutions™ (HNS) to manage IT infrastructure in Jack Henry's private cloud environment. \nOutsourcing IT infrastructure and transferring management responsibilities to the certified experts and engineers at ProfitStars empowers banks and credit unions to free their internal IT resources to focus on more strategic initiatives, like customer relationships, growth strategies, and new business efforts. Moving to Jack Henry's private cloud environment enables institutions to keep pace with technological advancements, better manage compliance and costs, improve their cybersecurity posture, and strengthen disaster recovery models. \nThe pandemic reaffirmed Nashville, Tenn.-based FirstBank's decision to outsource its IT infrastructure with Jack Henry. Dan Moore, chief information officer for FirstBank, commented, \"During the pandemic when more than 1,000 associates worked remotely, we were able to complete two acquisitions, process approximately 3,000 PPP loans totaling more than $310 million, and migrate our digital banking platform to Banno. This was made possible by leveraging Jack Henry's private cloud, which allowed us to maintain uninterrupted access to all our critical banking systems. Partnering with Jack Henry has been integral to our bank, allowing us to continue normal operations without a hitch and accomplish major initiatives during challenging times as well.\"\nPanama City Beach, Fla.-based Innovations Credit Union decided to move away from its on-premise IT infrastructure after Hurricane Michael hit two years ago, which caused severe outages and service interruptions in the area. The credit union wanted the peace of mind and strengthened business continuity that comes with an outsourced model and ultimately selected Jack Henry's private cloud environment for its robust capabilities, seamless integration and control...