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Home » News » More U.S. Banks Chose the SilverLake System Above Other Core Platforms in 2016

May 17 2017

More U.S. Banks Chose the SilverLake System Above Other Core Platforms in 2016

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Jack Henry & Associates continues to lead domestic market in new core sales

Jack Henry & Associates, Inc. is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today its Jack Henry Banking division announced the SilverLake System as the leader of new core system footprints for calendar year 2016, according to the IBS Intelligence Sales League Table 2017.

This annual ranking lists financial technology providers based on the previous year’s sales performance. The SilverLake System led the United States in completed contracts for sales to new core clients on a single platform, with 22 for the year.

The SilverLake System’s underlying technology and infrastructure is continuously updated to provide a modern, dynamic core environment that is responsive to how banks want to do business. More than one in four U.S. banks with assets $1 to $30 billion employ the SilverLake System as they serve their customers every day.

Stacey Zengel, president of Jack Henry Banking, explained, “The SilverLake System has proven to be the preferred option for both community and multi-billion dollar banks looking for a strong technology hub from which they can grow their business, meet customers’ expectations, and compete in a constantly changing banking environment. This acknowledgement is a testament to how we continue to grow our client base in a challenging regulatory era and provide the solutions that enable our customers to thrive.”

Overall, Jack Henry & Associates continues to dominate the core systems market; the company secured four of the top seven spots on this year’s IBS Sales League Table, with more banks and credit unions converting to Jack Henry Banking and Symitar^® platforms in 2016 above any other domestic supplier.

The IBS Sales League Table presents the sales and performance activity compiled over the year, based on submissions from each supplier. IBS Intelligence divides this listing into universal banking, retail, lending, private banking, and wholesale banking categories. Each technology vendor is invited to submit an account of deals closed and IBS verifies each submission; license renewals and extensions to the systems within a bank are excluded. The winners are based on their sales performance in the respective system categories and geographies.

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