Washington, D.C. (June 11, 2020) —The Independent Community Bankers of America® (ICBA) today announced that it has extended its Preferred Service Provider agreement with ProfitStars®, a division of Jack Henry & Associates Inc.®, to include Forecasting and Financial Reporting (FFR) to support community bank strategic planning.
“Community banks are looking for ways to apply technology to create more efficient and accurate forecasting,” ICBA Senior Executive Vice President of Community Bank Solutions Kevin Tweddle said. “With ProfitStars’ flexible, customizable solution, community banks can accomplish both, allowing them to meet budgetary goals while serving the needs of their customers.”
FFR is a comprehensive and flexible budgeting system that allows community banks to be nimble and modify budgets easily. It provides community bankers with tools and data for effective strategic and tactical planning, beginning with meaningful standard, customized, and graphic reports that update automatically. Bankers can apply files from any core system, create a budget, build what-if models, view budget versus actual variances, and compare test cases.
Russ Bernthal, vice president of Jack Henry & Associates and president of ProfitStars, said, “Accurately monitoring and fully understanding financial health and activity are top priorities for many community banks today. With our robust forecasting and financial reporting solution, institutions can simplify and modernize the strategic planning process, generate more accurate financial forecasts, and easily view discrepancies between monthly budgets and actuals. The forecasting model can easily be shifted to reflect various economic conditions, helping ICBA member banks better prepare to serve their customers during good times and bad.”
For more information about ICBA’s Preferred Service Provider program, visit www.icba.org/psp.
About ICBA
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. With more than 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ nearly 750,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, nearly $4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ:JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 9,000 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.
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