Craft Bank picks Jack Henry’s SilverLake after 2020 launch
Craft Bank, an Atlanta-based de novo bank, has selected Jack Henry & Associates’ SilverLake core banking system.
Craft Bank, launched in October 2020, operates through a single physical location, but has plans to grow by “meeting customers where they are”.
The bank has deployed SilverLake in Jack Henry’s private cloud environment. It has added Gladiator Hosted Network Solutions to manage its IT infrastructure.
Ross Mynatt, president and CEO of Craft Bank, says it’s “based around better banking.” He adds: “it is vital for us to have nimble, modern and evolving technology.
“We liked the flexibility and performance of Jack Henry’s platform as well as their focus on innovation and strategic partnerships.
“Our visions and beliefs align; we’re also appreciative of their user groups and communities of forward-looking institutions.”
Jack Henry has had some success with newly established banks in the US. The vendor claims that 42% of de novo institutions launched since 2017 use its solutions.
Stacey Zengel, senior vice president of Jack Henry, says Craft Bank’s entrance into the market comes at a challenging time.
Despite this, she adds it is also “a time of great benefit to their local businesses”.
“We share Craft Bank’s vision of providing better personal banking through digital services. It’s a theme that Jack Henry has made a top priority for years.”