Farm Credit Bank of Texas in Austin has agreed to use core processing software from Jack Henry and Associates Inc.
The Monett, Mo., banking technology vendor said Thursday that the $14.2 billion-asset bank would install its SilverLake application in-house. Farm Credit Bank said agricultural lending is a major portion of its business, and that SilverLake's lending capabilities were a key factor in its choice.
Jack Henry said that about 500 banks with assets of $1 billion to $20 billion are using SilverLake in-house or through the vendor's hosted version.
Farm Credit Bank will also use several other Jack Henry applications, including its Vertex teller automation system, its jhaKnow business intelligence platform, and its Synergy Enterprise Content Management software.
Corrected August 26, 2008 at 6:40PM: An earlier version of this story mischaracterized the roughly 500 banking companies using Jack Henry & Associates' SilverLake core banking software. Only some have assets of $1 billion to $30 billion.