The Newburyport, Mass., community banking company Institution for Savings has agreed to outsource its core processing operations to Jack Henry and Associates Inc. as part of an expansion effort.
Jack Henry, a Monett, Mo., vendor, said Wednesday that the $980 million-asset banking company would use its hosted SilverLake core processing application, as well as its Vertex Teller Automation, Vertex Teller Capture, NetTeller Online Banking, InTouch Voice Response, and several other branch automation, debit managment and compliance applications.
Michael Jones, the banking company's chief financial officer and chief operating officer, said in a press release from the vendor that shifting to Jack Henry's systems "can materially increase our operating efficiency and support our ongoing growth without staff additions."
Institution for Savings currently outsources its core processing operations to a different technology provider that it did not name.
