Jack Henry Closes 15 Deals for Opening Act
February 20, 2007 Alex Woodie
Banks and credit unions are snapping up Opening Act, a new program for banks that allows customers to set up accounts and apply for loans over the Internet, says Jack Henry & Associates, a Missouri developer of banking software.
“Today’s convenience-driven consumers expect their financial institutions to host Internet banking sites that allow them to securely access their accounts, initiate transactions, and conduct research 24-hours-a-day, seven-days-a-week,” says Tony Wormington, president of Jack Henry. “Opening Act, a production-proven addition to our Internet banking platform, is a Web-based origination system that enables consumers to seamlessly originate deposit accounts, consumer and mortgage loans, and credit cards.”
According to Jack Henry, more than 15 of its customers have signed contracts to buy Opening Act since the software became available last year. The technology behind Opening Act was developed by a company called Meridian Link, with whom Jack Henry has a remarketing agreement to sell Opening Act through its Symitar and ProfitStars organizations.
One of the companies implementing Opening Act is Farmers & Merchants Bank of Long Beach, California. The fact that Opening Act integrates with Silverlake, the i5/OS-based core processing system from Jack Henry, was important to F&M, says Robert Graham, senior vice president of information systems at F&M.
“After being introduced to Opening Act at the most recent Jack Henry users group meeting, we were convinced that it will effectively and efficiently support this initiative by enhancing our Internet presence with a distinct online service,” Graham says. “We expect Opening Act will become a strategic component of our dynamic e-commerce strategy.”