FRANKLIN, Mass. - (Business Wire) Saylent Technologies, Inc., a pioneering provider of payment intelligence software, today announced a strategic alliance with Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, to deliver a fully integrated customer rewards solution for Jack Henry & Associates’ core clients.
BIG Rewards can increase profitability by attracting and retaining customers and deposits by offering high-interest checking, cash-back, and merchandise incentives that reward customers based on their banking relationships and posted account transaction activity during existing statement cycles. This Web-based solution is being integrated with Jack Henry & Associates’ core processing systems and will be offered in an ASP environment managed by Jack Henry & Associates.
According to Tony Wormington, president of Jack Henry & Associates, “BIG Rewards will enable our financial institution clients to accurately report on and analyze customer data, transaction behavior, and payment patterns. This deeper insight can then be used to build stronger, more profitable relationships by developing customer segmentation strategies and by defining and implementing customer loyalty and incentive programs. Powerful analytics capabilities allow the impact of unique rewards programs and changes in customer behavior to be objectively and accurately measured.”
Debbie Wood, general manager of Marketing and Strategic Initiatives for Jack Henry & Associates, reported, “BIG Rewards is an ideal example of our commitment to offer contemporary solutions that can generate competitive advantages for our clients and positively impact their growth strategies. Integrating Saylent’s state-of-the-art solution with our information processing platforms will provide our clients with a powerful customer acquisition and retention tool. Our delivery of this solution in a hosted environment also provides a low cost of ownership and allows our financial institution clients to focus on program results rather than implementation.”
Tyson Nargassans, president of Saylent Technologies, said, “In a challenging economic climate, financial institutions of all sizes are under intense pressure to increase deposits, attract and retain customers and accounts, and cement customer loyalty. This alliance will allow financial institutions to develop targeted, customized rewards programs that work. During its 32-year history, Jack Henry & Associates has consistently offered industry-leading, competitively distinct solutions to its customers and we are pleased to support that mission and help its valued clients succeed and prosper in today’s highly competitive marketplace.”
BIG Rewards utilizes Saylent’s Account360TM solution as the software platform. Saylent will also deliver consulting and optimization services to help Jack Henry & Associates’ clients maximize the potential of the payment intelligence by effectively capturing, analyzing, and understanding payment activity and using that business information to make customer relationships more profitable. Saylent will help financial institutions segment their customer bases and design the right loyalty and rewards program for each targeted segment.
Jack Henry & Associates also licenses and offers Saylent’s Card360TM solution (formerly known as Y-Debit) which automates debit card program segmentation and trend analysis to its customers. Card360 enables financial institutions to generate detailed network and merchant-level reporting, accurately segment cardholders, and produce greater insight into debit cardholder buying behavior and profitability metrics. With Card360, financial institutions can develop, implement, and track targeted marketing strategies and programs to drive interchange revenue and increase wallet share.
About Saylent Technologies, Inc.
Saylent Technologies, based in Franklin, Mass., develops payment intelligence solutions to help financial institutions attract and retain accounts. Employing innovative analytics and segmentation techniques, Saylent’s Card360 solution (formerly known as Y-Debit) identifies card usage patterns by cardholder, targets underperforming or at-risk segments and enables corresponding marketing programs and metrics. Saylent’s Account360 solution provides a holistic perspective on customers across all payment types, enabling financial institutions to understand and shift customer behaviors and increase share-of-wallet. For more information, please visit www.saylent.com or call (508) 570-2161.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 8,800 customers nationwide and are marketed and supported through three primary brands. Jack Henry BankingTM supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. SymitarTM is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company’s financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company’s SEC filings that may cause actual results to differ materially from any forward-looking information.
For Saylent Technologies
Jessica Mularczyk, 508-498-9300
mularczykpr@verizon.net
