Jack Henry & Associates, Inc. Announces Strategic Alliance With Lifelock

PRLog (Press Release) – Sep 21, 2007 – Monett, MO  - 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.