Town Square Bank in core banking tech revamp with Jack Henry
Town Square Bank, a $457 million financial institution in the US state of Kentucky, is implementing a new core banking system, Silverlake, provided by US banking tech heavyweight Jack Henry & Associates.
The new platform will support retail and commercial banking operations, and will provide a unified core processing solution for Town Square and the Home Federal Savings and Loan business that the bank acquired in 2014.
According to Jack Henry, the bank was looking for “a core technology partner that would prepare them to offer an enhanced digital platform, a modern branch experience, and additional operational efficiencies”.
Town Square will also implement Silverlake Xperience, a customisable interface for back office support “that’s more intuitive for bank employees”, and jhaEnterprise Workflow to streamline and standardise multi-step business processes with enterprise-wide automation.
Call centre operations will be outsourced with jhaCall Center, while disaster recovery and business continuity will be outsourced through Jack Henry’s data centre, the Mountain. The latter is “securely located 165 feet below ground”, the vendor says.
“Our bank has been a local community staple for more than 125 years,” says Cathy Groves, COO of Town Square Bank. “As we embark on providing customers with the latest features and conveniences, it is important that we have a technology partner who will support our growth goals.” She adds that Jack Henry offers “scale and efficiency”.