Putnam Greene Financial Corporation, a bank holding company based in Georgia, US, has partnered with banking technology provider Jack Henry for its core processing platform.
The collaboration will see Putnam Greene Financial Corporation utilise Jack Henry’s core banking tech to standardise operations across its four subsidiary banks: Farmers & Merchants Bank, The Farmers Bank, First Bank of Coastal Georgia, and The Citizens Bank of Cochran.
Established in 1998, Putnam Greene Financial Corporation manages roughly $1 billion in assets across its four community-focused banks.
Though each bank operates independently, the new partnership will see them all adopt Jack Henry’s tech as they each look to scale.
David McAfee, chief technology officer at Putnam Greene Financial Corporation, says that Jack Henry’s “cloud-based platform, with open infrastructure and a single-interface design, will streamline workflows and enable consistent service across all four banks”.
Putnam Greene Financial Corporation becomes the latest in a long line of US financial institutions to adopt Jack Henry’s tech, following the likes of Baltimore-based CFG Bank, Michigan’s $6.2 billion-asset Mercantile Bank, and First Mid Bank & Trust, an Illinois-based financial institution with nearly $8 billion in assets.
Source: https://www.fintechfutures.com/
