Business
Saco & Biddeford Savings Institution Selects Jack Henry for Service and Innovation
Maine's oldest bank plans to improve customer and employee experiences with added efficiency and modern solutions MONETT, Mo., June 5, 2023 /PRNewswire/ --
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"Maine's oldest bank plans to improve customer and employee experiences with added efficiency and modern solutions \nMONETT, Mo., June 5, 2023 /PRNewswire/ -- Jack Henry™ (Nasdaq: JHKY) announced today that Saco & Biddeford Savings Institution (SBSI), a mutual savings bank founded in 1827, selected Jack Henry to modernize its technology infrastructure and grow small business banking.\n\n \n \n \n \n \n \n\n \nThe $1.3 billion-asset bank was looking for a forward-looking technology provider that offered best-in-class solutions for all areas of the bank; it wanted to improve integration and automation, while providing customers with a wide array of banking services. To reach their goals, SBSI invested in a full suite of Jack Henry products including core processing, digital banking, lending, payments, and cash management solutions. The bank appreciates Jack Henry's technology modernization strategy, which redefines traditional core processing by unbundling services and making them easily available as standalone modules in a public cloud.\nBob Quentin, CEO at SBSI, said, \"As a mutual organization, we are keenly focused on providing financial services that meet the ever-changing needs of our customers and communities, while also facilitating a rewarding work environment for our employees. We knew Jack Henry was the right choice for our technology plans after hearing accolades from peers, seeing their open and scalable platform in action and learning about their commitment to bringing their solutions to the public cloud. What they are building is different from other vendors; they will drive our efficiencies while celebrating our high-touch approach. This puts us in the best position to take on the future.\"\nSBSI's strong retail practice is complemented by a steadily growing small businesses market, with a particular focus in the hospitality sector. The bank is focused on growing small business banking capabilities and expanding their commercial loan portfolio. Quentin adds, \"Jack Henry's flexible cash management and lending solutions will equip our business customers with the tools they need to thrive, while improving efficiency, customer service, regulatory compliance, and keeping us competitive in the marketplace for future growth.\"\nStacey Zengel, senior vice president of Jack Henry and president of Bank Solutions, said, \"His...