Fidelity Bank & Trust goes live on Jack Henry’s SilverLake system
Fidelity Bank & Trust, an Iowa-based lender, has launched on Jack Henry & Associates’ Silverlake core banking system.
The bank wanted to provide new deposit and lending capabilities to its customers. It is launching Silverlake in a cloud-based configuration.
According to Jack Henry the bank wanted a “modern, automated core” for “increased support” and “robust capabilities”. Silverlake ended up replacing “several” legacy systems across the bank’s infrastructure.
Bryan Vander Lee, chief financial officer at Fidelity Bank, says it was previously an “in-house organisation”.
He adds that Jack Henry won the bank over with its “modern technology and compatible corporate culture”. The core has enabled the bank to replace “siloed systems” in favour of “solution suites”.
Fidelity Bank & Trust operates 33 branches across the Hawkeye State. The bank says it has experienced “significant growth” in recent years and has nearly $1.5 billion in assets today.
It is not to be confused with the Fidelity Bank in Georgia, which runs Fiserv’s DNA, or Fidelity Bank in Kansas.
“Growth-focused institutions like Fidelity understand that technology plays an important role in planning for the future,” says Jack Henry senior vice president Stacey Zengel.
“With our core, lending, and deposit solutions, Fidelity provides the comprehensive, intuitive service that customers need to seamlessly manage their finances.”