MONETT, Mo., March 9 /PRNewswire-FirstCall/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced the continuation of record growth for the Remote Deposit Capture (RDC) solution provided by its ProfitStars division.
RDC is a Web-based electronic payment processing platform that enables businesses to make remote deposits by scanning the checks they receive as payment and converting them into electronic transactions that are processed through the ACH or Check 21 image exchange networks. Jack Henry & Associates sells its RDC solution to financial institutions and other businesses outside the financial services industry that in turn offer it to their merchant and business customers. RDC is an enterprise-wide solution for Jack Henry & Associates that is sold to the core bank clients supported by Jack Henry Banking(TM), to the core credit union clients supported by Symitar(TM), and to financial institutions outside the company's core client bases and to other diverse businesses by its ProfitStars division.
Strong industry demand for the best-of-breed solution drove record transaction volume. On January 4, 2010, an all-time daily high was achieved with more than 1.25 million transactions processed, and the overall volume continues to rise. In January, ProfitStars processed more than 14 million RDC transactions and moved approximately $13 billion in funds, representing an increase of 52 percent in transactions processed when compared to the same month in 2009. ProfitStars now supports more than 32,000 businesses in more than 100,000 locations with its RDC solution.
According to David Foss, president of ProfitStars, "The continued record growth that we are experiencing speaks to strong industry demand. ProfitStars is a definitive authority in RDC and we expect continued demand for our comprehensive, industry-leading solutions."
To support its RDC customers and future growth in the industry, ProfitStars will be hosting its 2010 ProfitStars Educational Conference in Las Vegas March 9-12. Industry professionals will convene for thought-leadership discussions and networking about best practices for payment processing, financial performance, retail delivery and more, all to help minimize challenges while maximizing opportunities.
ProfitStars also recently launched an online RDC Knowledge Center to assist customers and prospects with fulfilling aggressive, strategic RDC initiatives. The microsite - http://discover.profitstars.com/remotedepositexpert - is an educational resource for disseminating relevant and timely information to any financial institution wanting to begin, grow, or enhance its RDC offerings while also creating awareness of the breadth and depth of all ProfitStars RDC products and related solutions.
About ProfitStars
ProfitStars, a division of Jack Henry & Associates, Inc., provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.profitstars.com.
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 11,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar 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.
SOURCE Jack Henry & Associates, Inc.
