First Mid Bank Enhances Services With Jack Henry's Innovative Technology Solutions

First Mid Bank Enhances Services with Jack Henry's Innovative Technology Solutions

Overview

First Mid Bank & Trust, a reputable financial institution founded in 1865, has made a significant move in its quest for growth by partnering with Jack Henry, a leading provider of technology solutions for financial services. This collaboration marks a pivotal moment for the bank, as it seeks to modernize its technology infrastructure and enhance its operational efficiency across various regions.

With nearly $8 billion in assets, First Mid has transitioned from a small-town bank into a robust financial entity with over 80 branches spread throughout Illinois, Missouri, Texas, and Wisconsin. The bank has maintained its commitment to community banking while simultaneously expanding into urban centers such as St. Louis, employing an aggressive growth strategy that has involved multiple acquisitions over the past decade.

The Need for Modernization

The constantly evolving financial landscape necessitates that institutions like First Mid innovate continuously to remain competitive. As Chief Information Officer Jeremy Frieburg highlighted, the bank's rapid growth revealed gaps in their existing technology stack that could hinder future advancements. The bank required a flexible and scalable solution to better service its customers and streamline internal processes.

Recognizing this need, First Mid decided to engage with Jack Henry, known for its configurable technology and strong commitment to customer support. They aim to reduce manual tasks, improve workflow efficiency, and enhance data management capabilities, all crucial for a bank of their size and ambition.

Technology Solutions and Benefits

Jack Henry’s core processing platform provides a robust framework that allows First Mid Bank to capture, access, and manage customer data more effectively. The platform not only enhances operational efficiency but also integrates seamlessly with a variety of third-party fintech solutions – boasting access to over 950 API-integrated partners. This flexibility enables First Mid to tailor its technology stack to meet the specific needs of its diverse clientele.

Frieburg emphasized how this partnership would foster innovation and experimentation within First Mid’s teams, ultimately improving customer service. The ability to automate processes alleviates some of the burdens on staff, allowing them to focus on what truly matters: their clients.

The Path Ahead

As First Mid Bank continues to pursue an aggressive growth trajectory and strategically acquire new assets, the partnership with Jack Henry represents a forward-thinking approach to financial technology. Jack Henry is not merely an outsourcing partner; they embody a commitment to modernization and innovation that aligns perfectly with the aspirations of First Mid.

Jonathan Baltzell, President of Bank Solutions at Jack Henry, stated that institutions like First Mid require adaptable technologies to thrive in a fast-changing environment. This partnership empowers First Mid to continue providing exceptional service while fostering a sense of community and reliability that has been its hallmark for over 160 years.

Conclusion

The collaboration between First Mid Bank & Trust and Jack Henry demonstrates a significant step forward in financial services technology. By leveraging modern solutions and fostering efficient operations, First Mid is well-positioned to enhance its services and remain competitive in an ever-evolving financial landscape. As they celebrate their 160th anniversary, this partnership undoubtedly sets the stage for the next chapter in their storied history of dedication and service to the community.

For more information about First Mid Bank & Trust and their services, please visit First Mid Bank's website.