Jack Henry & Associates Inc. has made two image processing acquisitions, picking up TWS Systems Inc. and the SERsynergy division of SER Solutions Inc.
TWS Systems, an image-based item processing vendor based in Clearwater, Fla., serves credit unions. The addition should help the Monett, Mo., outsourcer serve customers preparing to clear and settle paper checks electronically.
TWS' Imagecenter item processing software was designed specifically for credit unions. TWS says that more than half of the top 100 credit unions use its technology.
Kevin D. Williams, Jack Henry's chief financial officer, said in a press release Monday that the TWS acquisition "can generate new market opportunities" and that his company plans to adapt Imagecenter "to support remittance check and cash payment processing for credit card and mortgage companies, government entities that collect taxes, and utilities."
Jack Henry plans to integrate TWS technology with its own Episys credit union core processing system, which is offered through its Symitar subsidiary in San Diego.
The acquisition of SERsynergy from SER Solutions, of Dulles, Va., was also announced Monday. SERsynergy sells image archiving software.
Jack Henry did not give the price of either of its latest acquisitions.
In November the company bought Optinfo Inc. of Charlotte, which sells reconciliation and exception processing software typically used by large banks.
Jack Henry's customers are predominantly in the small-bank and credit union markets. Its chief executive, Jack Prim, said at the time of the Optinfo acquisition that it would not allow Jack Henry to do more cross-selling but could help it start new lines of business.
Other new-market acquisitions this year by Jack Henry were Verinex Technologies Inc. of Lake Forest, Calif., which sells biometric technology, and e-ClassicSystems Inc., a Norwood, Mass., vendor of software for the management of automated teller machines.
