May 11, 2021
Washington, D.C. (May 11, 2021) — The Independent Community Bankers of America (ICBA) today announced it has extended its Preferred Service Provider agreement with ProfitStars, a division of Jack Henry & Associates Inc., to include several risk management solutions. The new services are designed to help community banks manage threats, secure mission-critical data and systems, support IT regulatory compliance, and safeguard against reputational risk.
“As cyber threats and natural disasters increase, community banks need to augment their internal resources to be as prepared as possible for unforeseen events,” ICBA Senior Executive Vice President of Community Bank Solutions Kevin Tweddle said. “ICBA is proud to offer these proven solutions, from a leading industry pioneer that understands community banks and empowers them with technology that responds to information security risks.”
Jack Henry’s private cloud environment positions institutions to keep pace with technological advancements, better manage compliance and costs, improve their cybersecurity posture and strengthen disaster recovery models. The new Gladiator services additions to the program include managed cybersecurity services, managed IT services, private cloud computing, data backup and recovery services, and governance risk and compliance services, including virtual Information Security Officer services.
“The pandemic reminded us that the financial ecosystem can shift abruptly and when it does, fraudsters are never slow to capitalize on changes,” said Matt Riley, president of ProfitStars. “We can help community banks facilitate a strategic view of risk management across their entire organization. Our solutions and experts are available to alleviate the IT burden while providing community banks with predictable, cost-effective, and scalable network solutions.”
“Outsourcing our IT risk and compliance to Jack Henry’s experts has lifted a burden off our IT department and gives us the bandwidth to emphasize more strategic priorities such as customer experiences and driving revenue,” said Kathy H. Grasty, senior vice president and chief financial officer of New Horizon Bank. “It’s the most feasible way of maintaining a consistent pulse on compliance and ensuring customer safety for our business. We recently added the Gladiator private cloud computing solution to our product suite and have been pleased with how it has simplified our disaster recovery process.”
Jack Henry offers more than 20 core-agnostic solutions for community banks through its ICBA relationship, including lending, payments, remittance, digital banking, CECL compliance, financial performance, data conversion solutions and profitability services.
The Independent Community Bankers of America creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, over $4.4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.
ProfitStars®, a division of Jack Henry & Associates, Inc.®, helps financial institutions of every asset size and charter, and diverse corporate entities, proactively identify and prepare for risks and market changes that could negatively impact their business. ProfitStars' industry-leading solutions and services include JHA Payment SolutionsTM, Information Security & Risk Management, Online & Mobile, Lending, Financial Performance, and Imaging/Data Management. These solutions help approximately 9,000 clients mitigate and control risks, optimize revenue and growth opportunities, contain costs, and drive future success. Additional information is available at www.profitstars.com.
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks. 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 cloud-based 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.