Central Bancshares moves to Jack Henry’s Silverlake core banking system
Implement new tech.
Two US banks, CBI Bank and F&M Bank, have implemented Jack Henry’s Silverlake core banking system. The banks’ parent, Central Bancshares Inc (CBI), initiated the project.
The goal, says Jack Henry, is “to empower the banks with a competitive and scalable technology infrastructure”.
Having conducted “a formal business analysis”, CBI “decided to replace its previous core provider of 20 years with a new partner that could better support their plans for aggressive growth and M&A activity”, according to Jack Henry.
The two banks are operating under separate charters in Iowa and Illinois, and have consolidated assets of around $900 million.
In addition to the new core, CBI has also equipped its subsidiaries with Jack Henry’s Banno Mobile solution for online and mobile banking, jhaEnterprise Workflow for business process automation and Silverlake Xperience for user interface for Silverlake and auxiliary systems.
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