BIG Rewards is a customer acquisition and retention solution that enables banks to offer high-interest checking, cash-back, and merchandise incentives based on customer relationships and account activity. Interest-based rewards offer customers high-interest checking products, cash-back rewards provide monetary rewards, and merchandise incentives offer bank-defined gift programs. The targeted, customizable rewards programs driven by BIG Rewards enable banks to increase deposits and profitability, improve customer retention, and enhance competitive positioning. Powerful analytics capabilities enable banks to objectively measure the impact of unique rewards programs, and accurately report on and analyze customer data, transaction behavior, and payment patterns. This online solution is offered in a hosted ASP environment managed by Jack Henry Banking(TM) and supported with a series of promotional materials that are provided to banks free-of-charge.
According to Carl Pollard, senior vice president of operations for Burke & Herbert Bank & Trust Company, “We constantly look for specific opportunities to enhance customer loyalty and acquisition and to strengthen our competitive position in the markets we serve. And we believe the ability to reward our valued customers for their entire relationship with Burke & Herbert with rewards programs that include high yield checking, cash back, ATM fee and surcharge refunds, and points toward merchandise programs will be an important near- and long-term component of our overall strategy to build stronger, more profitable customer relationships. The ability to fully customize our initial rewards programs and continually modify them in response to evolving customer, market, and competitive demands means BIG Rewards is a viable rewards solution for our dynamic and emerging market segments. BIG Rewards also provides some distinct operational advantages including full integration with our core system, the ability to support our existing statement cycles, and a low cost of ownership since it is delivered through Jack Henry Banking’s hosted environment.”
Tony Wormington, president of Jack Henry & Associates, said, “Integrating Saylent’s state-of-the-art solution with our core platforms provides our clients with a powerful new business tool. With BIG Rewards, banks can develop highly targeted, fully customized rewards programs that can increase their deposits and attract and retain loyal customers and accounts. The ability to analyze customer data, transaction behavior, and payment patterns with BIG Rewards generates the insight banks need to develop effective segmentation strategies and incentive programs for each segment. And the powerful analytics capabilities allow banks to objectively measure the impact of their unique rewards programs and changes in customer behavior. BIG Rewards is another example of our commitment to offer the integrated complementary solutions our clients need to support their business strategies and enhance their competitive positioning.”
BIG Rewards utilizes Saylent’s Account360(TM) solution as its software platform. Saylent also provides consulting and optimization services to help banks segment and analyze their customers and design the most effective loyalty and rewards program for targeted segments. These consulting services help banks maximize program potential by enabling them to truly understand their customers’ payment behaviors and activities and use that business intelligence to create more profitable, loyal customer relationships.
About Saylent Technologies, Inc.
Saylent Technologies, based in Franklin, Mass., develops payment intelligence solutions to help financial institutions attract and retain accounts. Employing innovative analytics and segmentation techniques, Saylent’s Card360(TM) solution (formerly known as Y-Debit) identifies card usage patterns by cardholder, targets underperforming or at-risk segments and enables corresponding marketing programs and metrics. Saylent’s Account360 solution provides a holistic perspective on customers across all payment types, enabling financial institutions to understand and shift customer behaviors and increase share-of-wallet. For more information, please visit www.saylent.com or call (508) 570-2161.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 8,800 customers nationwide and are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar(TM) is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars((R)) provides highly specialized products and services that enable financial institutions of every asset size and charter and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company’s financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company’s SEC filings that may cause actual results to differ materially from any forward-looking information.