Jack Henry & Associates, Inc.® (NASDAQ: JKHY) announced today that Old Second National Bank has expanded its collaboration with Jack Henry to support the bank’s digital and growth strategy.
Among the largest locally headquartered banks in the Chicago area, Old Second benefited from a seven-year modernization journey, improving its technology infrastructure to support organic growth and acquisitions. In 2015, the bank began by migrating its Jack Henry core to the private cloud and shifting a historically retail-focused offering to include commercial banking capabilities. Over the last two years, Old Second has expanded its relationship with Jack Henry, resulting in:
• Improved operational efficiencies through automating with scale using jhaEnterprise Workflow™;
• Access to leading Jack Henry banking services such as card processing solutions;
• New digital capabilities through the Banno Digital PlatformTM; and
• Stronger connections with third-party solutions using Jack Henry’s open API infrastructure.
Andrew Maychruk, executive vice president and chief technology officer at Old Second National Bank, commented, “We needed an open, progressive technology architecture in order to differentiate and meet the demands of our account holders. Jack Henry understands our mindset that past industry practices are no longer sustainable, as is evidenced in Jack Henry’s recently announced technology modernization strategy. They take time to listen, understand our unique challenges, and work with us to develop a strategy that meets the needs of our company and account holders.”
Old Second is dedicated to providing its account holders with all of the conveniences of a digital self-service model while providing personal support in the moment of need. Embedding modern fintech solutions into its digital platform through Jack Henry’s ecosystem – Jack Henry provides connectivity to more than 850 fintechs – is expected to enable the bank to continue to meet the needs of account holders in the future.
Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking, said, “Old Second National Bank has been on a growth trajectory and its technology plan positions the bank to differentiate and serve account holders in its markets. The bank shares in our vision to keep evolving so that community-based financial institutions are the focal point of financial experiences. This open, embedded experience is how we win at banking-as-a-service.”