LifeLock is a Next-Generation Solution for Identity Theft Protection
Monett, MO - September 20, 2007 - Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, announced today that it has formed a strategic alliance and re-marketing relationship with LifeLock, the industry leader in identify theft protection.
LifeLock's services represent a next-generation solution that proactively protects consumers from identity theft. In sharp contrast to traditional identity theft services, LifeLock renders a consumer's personal information useless to thieves by maintaining active fraud alerts at the major credit reporting agencies,
prompting creditors to obtain authorization for new lines of credit or credit file changes that could lead to identity theft. A subscription to LifeLock includes comprehensive identity restoration services that cover any known type of financial or non-financial identity theft. LifeLock backs its restoration services with a unique $1 million service guarantee that will recover 100 percent of a victim's related losses. In addition, LifeLock removes its subscribers from junk mail lists and pre-approved credit card offers, viewed as one of the most common sources of information theft. LifeLock provides the nation's only identity theft prevention program for children.
Jack Henry & Associates will re-market LifeLock directly to its thousands of bank and credit union clients. Participating financial institutions will promote the service to their millions of consumers nationwide, and can purchase licenses to protect segments of their customer, member and employee populations. Financial institutions that experience any loss of consumer information will be able to deploy LifeLock's data breach protection service immediately to all individuals affected by the incident. As a result, their identities, now possibly more vulnerable to misuse, will be fully protected by LifeLock.
According to Debbie Wood, general manager of Marketing and Strategic Initiatives for Jack Henry & Associates, "We offer a strong suite of solutions that enable our financial institution clients to mitigate and manage operational and financial risks. LifeLock's proven solution that protects consumers from identify theft is a natural addition to our offering, especially when you consider that the Federal Trade Commission estimates that one identity is stolen every three seconds, and that victims will spend up to 300 hours to repair their credit once their identities have been stolen. LifeLock provides consumers with guaranteed protection against this crime, and as a result, peace-of-mind. LifeLock's service will generate recurring revenue for our bank and credit union clients, and will enhance goodwill among their customers and members. Our exclusive re-marketing relationship with LifeLock positions Jack Henry & Associates with another competitively distinct risk management solution."
"We are very excited about our association with Jack Henry & Associates," said Todd Davis, LifeLock CEO. "Together, we will provide an affordable, preventative tool for Jack Henry & Associates' financial institution clients, along with their customers and members who are concerned about the nation's fastest growing crime - identity theft."
In addition to this industry-leading identify theft protection solution, Jack Henry & Associates will provide professional marketing materials to assist its clients with the promotion of this unique service and to accelerate subscription rates.
About LifeLock
LifeLock (www.lifelock.com) helps consumers to render their personal information useless to thieves, backing up its service with a one million-dollar service guarantee. Famous for its CEO giving out his Social Security Number in advertising and national press, the company is experiencing astounding growth. Located in a secure facility in Tempe, Arizona, LifeLock is a private company backed by Kleiner Perkins Caufield and Byers as well as Bessemer Venture Partners. The company recently won an American Business Award for the Best Radio Advertising Campaign and was a finalist for 10 other awards, including Best New Company and Best New Product/Service. LifeLock will present the LifeLock 400, NASCAR NEXTEL Cup Series race at Kansas Speedway on Sunday, September 30, 2007.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services, primarily serving financial services organizations. Its technology solutions serve more than 8,700 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar™ is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars™ provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.