Jack Henry Partners with QCR Holdings to Revolutionize Banking Technology Across Four Institutions

Jack Henry Partners with QCR Holdings for Technological Upgrade

In a significant move towards digital transformation, QCR Holdings, Inc., a prominent player in the financial services sector, has chosen Jack Henry™ (Nasdaq: JKHY) to modernize its technology infrastructure across its four subsidiary banks. This partnership aims to standardize operations and enhance both client and employee experiences while maintaining the community-centric ethos of each bank.

Founded in 1993 and based in Moline, Illinois, QCR Holdings manages an impressive $9 billion in assets across five distinct brands: Cedar Rapids Bank & Trust, Community Bank & Trust, Quad City Bank & Trust, Community State Bank, and Guaranty Bank. Each of these banks is dedicated to serving their local markets in Iowa, Illinois, and Missouri, providing personalized banking services that bridge the gap between local decision-making and the scale of a larger financial institution.

Jack Henry, already a trusted service provider for one of QCR’s banks, has been recognized for its forward-thinking approach to relationship banking. The decision to transition all four banks to Jack Henry’s state-of-the-art core processing platform will significantly enhance the banks' operational efficiencies, thereby setting a benchmark for their technology framework while ensuring that each bank retains its unique local identity.

Among the features that QCR Holdings finds appealing are innovative products like Enterprise Workflow and Synergy. These tools promise to streamline internal processes, boost productivity, and allow the banks更 efficiently integrate best-in-class solutions tailored to their respective markets through over 950 API-integrated fintechs.

Reba Winter, COO at QCR Holdings, emphasizes that Jack Henry will play a pivotal role in delivering a technology strategy capable of elevating client and employee experiences alike. “Their modern, flexible platform will improve efficiency, reduce costs, and give our banks the independence to integrate solutions that precisely meet local needs,” she stated.

Additionally, QCR Holdings is attracted to Jack Henry’s data-exchange solution, Data Hub, which enables real-time access to critical data. This capability is further enhanced by the use of Google Cloud Platform, facilitating smoother integrations across various systems. The confidence in Jack Henry’s vision for a modern core infrastructure, centralized in the public cloud, assures QCR Holdings that they are on the right path for sustainable growth, aiming to reach the significant milestone of $10 billion in assets shortly.

Winter expressed her view clearly: “Jack Henry aligns seamlessly with where we stand today and where we aim to go. Their technology is versatile, meeting our immediate needs while offering scalability for future growth.”

Jonathan Baltzell, President of Bank Solutions at Jack Henry, highlighted QCR Holdings’ proactive stance in adopting a digital transformation strategy. “They are focused on enhancing customer relationships while preserving the personal service intrinsic to their Midwestern values,” he stated. “Our technology platform is designed to support the organization's current scale and anticipated growth while maintaining the essence of local communities.”

As QCR Holdings embarks on this exciting journey of transformation, the collaboration with Jack Henry exemplifies a strategic alignment between technology and community banking, ensuring that important local relationships thrive even amidst significant technological advancements. Their joint efforts aim to pave the way for future innovations while adhering to a steadfast commitment to providing exceptional service to their clients.

Through this partnership, QCR Holdings not only looks forward to modernizing its operations but also reinforces its commitment to being a driving force in community banking, blending technology with the personal touch that defines its longstanding service approach.

For more details about Jack Henry’s offerings or to explore how they are paving the way in financial technology, visit www.jackhenry.com.