Bank builds strategy to streamline processes,
enhance retail and small business customer experience
MONETT,
Mo., April 11, 2024 /PRNewswire/ -- Jack
Henry™ (Nasdaq: JKHY) announced today that United Bank selected
Jack Henry to support its growth,
modernize operations, and gain a competitive edge.
United Bank, headquartered in Atmore,
Alabama, has been serving agricultural communities since
1904. The creation of its holding company, United Bancorp of
Alabama, Inc., more than 40 years
ago began a geographic expansion that attracted small business and
retail clients, as well as a recent acquisition. Staying true to
its mission to make its communities better for everyone, the bank
earned a Community Development Financial Institution
(CDFI) certification and has introduced unique lending
programs to benefit distressed areas. Today, the bank operates 20
branches across Alabama and
Florida and has close to
$1.2 billion in assets.
United Bank needed a well-rounded and open technology provider
to meet the needs of retail and small business customers and
improve its lending and CFDI reporting. Jack Henry's robust
and scalable hosted core processing solution and commercial loan
origination platform, LoanVantage®, will streamline operations
and boost efficiency, while the Banno Digital Platform™ will
elevate the customer experience.
"After evaluating the market, Jack
Henry was the obvious choice. Their open and customizable
tools will fill in our current technology gaps, streamline our
processes, and help us stand out in our communities by elevating
our customer experience," says Mike
Vincent, CEO of United Bank. "And the company's reputation
was a clear indicator of their commitment, as we heard rave reviews
from peer banks as well as our staff that had prior experience with
the platform."
The bank plans to continue its growth through a diversified
approach, including organic growth, acquisitions, and geographic
expansion. A flexible technology partner that can scale with them
and guide their modernization was key. Vincent adds, "It was
crucial for us to invest in a nimble company that can support us
both now and in the future. Jack
Henry is ahead of the curve in terms of innovation. We'll be
able to rely on them for guidance through our technology
journey."
"Regions like southwest Alabama
and northwest Florida need
resilient banks that are community minded and can bring the power
of modern banking technology to people and businesses that are in
need," says Stacey Zengel, senior
vice president of Jack Henry and
president of Bank Solutions. "At Jack Henry, we take pride in
helping banks like United Bank continue to serve their communities,
especially amidst growing industry consolidation, and stay
competitive and agile in the face of increasing consumer
expectations and regulatory pressures."
About Jack Henry &
Associates, Inc.®
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial
technology company that strengthens connections between financial
institutions and the people and businesses they serve. We are an
S&P 500 company that prioritizes openness, collaboration, and
user centricity – offering banks and credit unions a vibrant
ecosystem of internally developed modern capabilities as well as
the ability to integrate with leading fintechs. For more than 47
years, Jack Henry has provided
technology solutions to enable clients to innovate faster,
strategically differentiate, and successfully compete while serving
the evolving needs of their accountholders. We empower
approximately 7,500 clients with people-inspired innovation,
personal service, and insight-driven solutions that help reduce the
barriers to financial health. Additional information is available
at www.jackhenry.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/united-bank-modernizes-technology-stack-drives-growth-with-jack-henry-302112864.html
SOURCE Jack Henry &
Associates, Inc.