Jack Henry & Associates buys division of SER Solutions Inc.

Jack Henry & Associates buys division of SER Solutions Inc.
Tags: Bank / Credit Union, Cash Dispenser / Recycler / Acceptor, Debit / Credit, Other, Public Companies, Software, Transaction Processing
December 20, 2004

MONETT, Mo. - Jack Henry & Associates Inc., a leading provider of integrated computer systems and ATM/debit card/ACH transaction processing, announced its purchase of the SERsynergy division of Virginia-based SER Solutions Inc., according to a news release. Terms of the transaction were not disclosed.

SERsynergy, the division's flagship product, is an intelligent document-management solution that is enabling more than 1,600 domestic and international financial institutions to further automate their processes by capturing, archiving and immediately retrieving images of all forms of paper-based and electronic documents. The IDM solution empowers bank and credit union personnel to make better informed and timelier decisions by consolidating enterprise-wide information into one system and providing immediate desktop access to the archived information.

The system supports all forms of document content including COLD data, check images, signature cards, loan files, deposit agreements, emails, correspondence and photo IDs.

SERsynergy accommodates report data, statements and customer documents, regardless of system origin, format or layout; and content searches can be conducted without using indexes, keywords or Boolean operators.

SERsynergy ensures data integrity and security by protecting the original data from being changed or manipulated in any way, and the system enforces compliance with regulatory requirements related to the ID storage and list-checking provisions of the USA Patriot Act and the data security, integrity, and confidentiality provisions of the Gramm-Leach-Bliley Act.

"With the click of a button, SERsynergy delivers the business information needed to provide the service levels that bank customers and credit union members now expect," said Tony L. Wormington, president of Jack Henry & Associates, in the release.

"The acquisition of the SERsynergy division of SER marks the eighth consecutive acquisition that will expand our offering of market-leading solutions that benefit our existing bank and credit union clients, while providing additional sales opportunities outside our client base," said Jack F. Prim, chief executive officer of Jack Henry & Associates. "We believe SERsynergy is a competitively distinct solution that will further differentiate our product and service offerings, and support our clients' growth, service, operational, and profit goals."