Craft Financial institution, an Atlanta-based de novo financial institution, has chosen Jack Henry & Associates’ SilverLake core banking system.
Craft Financial institution, launched in October 2020, operates by a single bodily location, however has plans to develop by “assembly clients the place they’re”.
The financial institution has deployed SilverLake in Jack Henry’s non-public cloud surroundings. It has added Gladiator Hosted Community Options to handle its IT infrastructure.
Ross Mynatt, president and CEO of Craft Financial institution, says it’s “based mostly round higher banking.” He provides: “it is important for us to have nimble, trendy and evolving expertise.
“We preferred the flexibleness and efficiency of Jack Henry’s platform in addition to their deal with innovation and strategic partnerships.
“Our visions and beliefs align; we’re additionally appreciative of their person teams and communities of forward-looking establishments.”
Jack Henry has had some success with newly established banks within the US. The seller claims that 42% of de novo establishments launched since 2017 use its options.
Stacey Zengel, senior vice chairman of Jack Henry, says Craft Financial institution’s entrance into the market comes at a difficult time.
Regardless of this, she provides it’s also “a time of nice profit to their native companies”.
“We share Craft Financial institution’s imaginative and prescient of offering higher private banking by digital providers. It’s a theme that Jack Henry has made a high precedence for years.”