Jack Henry & Associates

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For the football coach, see Jack Henry.
Jack Henry & Associates, Inc.
Public
Traded as NASDAQJKHY
Founded Monett (1976)
Headquarters Monett, Missouri, United States
Key people
John F. “Jack” Prim, Chairman and CEO
David B. Foss, President
Website www.jackhenry.com

Jack Henry & Associates is an S&P 400 company[1] that supports more than 11,300 financial institutions with core processing services. JHA was ranked the 18th largest provider of information technology services to the financial services industry worldwide in the 2009 FinTech 100 surveys.[2] Headquartered in Monett, Missouri, JHA made $1.129 billion in annual revenue during fiscal 2013 (ended June 30).[3]

History[edit]

Jack Henry & Associates (commonly referred to as JHA) was formed in 1976 by Jack Henry and Jerry Hall in Verona, MO. In 1977, Jack Henry & Associates was incorporated and generated $9,360 in revenue.[4]

The company went public October 29, 1985 with an IPO of 1.5 million primary shares. JHA started acquiring other companies in 1992. It acquired Symitar in 2000. In 2004, JHA’s focused diversification acquisition strategy resulted in the acquisition of a number of companies and products that can be sold outside JHA’s core client base to all financial services organizations regardless of charter, asset size, core processing platform. In 2006, JHA launched its third primary brand – ProfitStars – to encompass the specialized products and services assembled through its focused diversification acquisition strategy. In 2010 the company acquired iPay Technologies, which operated as the largest independent provider of electronic bill pay services in the United States.[5]

Corporate structure[edit]

JHA is a company that provides hardware and software for financial institutions, primarily through their core processing. The company’s solutions are supporting more than 11,300 customers and are delivered through three primary brands.

Jack Henry Banking[edit]

Jack Henry Banking is a provider of the core and complementary solutions banks need to process financial transactions, automate business processes, and manage information. Its original business line supports approximately 1,300 banks—ranging from community banks to multi-billion dollar mid-tier banks—with three functionally distinct core processing systems and more than 100 integrated complementary products and services.[citation needed] Its services include NetTeller Online Banking.[6]

Symitar[edit]

Symitar provides core systems to credit unions. It was founded in 1984 and acquired by JHA in 2000. Symitar's flagship product is Episys, a core processing software application used by about 600 credit unions to manage its member base and process transactions. It has its own PowerOn scripting language (most refer to it as RepGen, short for its original name of Report Generator) and its own SymConnect interface which allows access to the core database by Symitar and JHA add-on modules, as well as by third-party add-on providers. In 2002 JHA acquired South Carolina-based CU Solutions, adding the Cruise core processing system to its credit union offering in the Symitar division. This is a Windows-based system for smaller credit unions.[citation needed]

ProfitStars[edit]

As a diverse[citation needed], global division of Jack Henry & Associates, ProfitStars combines JHA’s solid technology background with the latest breakthroughs in five performance-boosting[citation needed] solution groups – Financial Performance, Imaging and Payments Processing, Information Security and Risk, Online and Mobile, and Retail Delivery. ProfitStars provides approximately 65 products and services that have been implemented by more than 11,000 customers and enable Jack Henry & Associates to serve large nontraditional markets.[citation needed]

Acquisitions and divestitures[edit]

2014[edit]

2010[edit]

  • Goldleaf Financial Solutions, Inc.
  • Pemco Technologies
  • iPay Technologies

2007[edit]

  • AudioTel Corporation
  • Gladiator Technology Services

2006[edit]

  • ProfitStars Inc.(In November 2005, Jack Henry & Associates, Inc. announced its acquisition of Profitstar, Inc., which was in a series of acquisitions that support Jack Henry's focused diversification strategy.[8] )
  • US Banking Alliance

2005[edit]

  • Select Payment Processing, Inc.
  • Verinex Technologies, Inc.
  • Optinfo, Inc.
  • TWS, Inc.
  • Synergy
  • Stratika
  • Tangent Analytics, LLC

References[edit]

External links[edit]