Jack Henry & Associates Strengths, Domain Expertise, and Key Differentiators
Jack Henry & Associates (JHA) provides financial technology solutions and payment processing services primarily to community banks and credit unions. Their offerings include transaction processing, business process automation, and information management solutions. JHA helps regional banks and credit unions manage risk, fulfill regulatory requirements, and enhance their online banking services.
Jack Henry & Associates operates under three main brands:
Jack Henry Banking offers integrated computer systems for banks, catering to institutions ranging from newly established to established entities.
Symitar is a provider of integrated computer systems tailored for credit unions of all sizes. Its flagship product, Quest, is a software application designed to manage member bases and facilitate transactions.
ProfitStars is a provider of core-agnostic solutions for banks and credit unions, based in Allen, TX.
Jack Henry & Associates Recent Developments
In May 2023, Jack Henry announced the replacement of inbound screen scraping on its Banno Digital Banking Platform with API connections to major data exchange platforms. This shift provides accountholders with greater control over their financial data and enhances security for financial institutions. By eliminating screen scraping, Jack Henry aims to mitigate security risks and improve customer experience. This transition marks a significant step towards a more secure era of financial data exchange, empowering accountholders to manage their data permissions within their bank or credit union's digital banking experience.
In August 2022, Jack Henry unveiled a refreshed brand, consolidating its three distinct brands - Jack Henry Banking, Symitar, and ProfitStars - into a singular Jack Henry brand. This move reflects the company's commitment to providing modern technology and services to community and regional financial institutions. Jack Henry aims to strengthen connections with accountholders and reduce barriers to financial health. The company also announced its next-generation technology strategy, centered on the development of a single, cloud-native open-banking platform. This initiative builds on Jack Henry's industry-leading digital banking platform, offering easy access to a wide ecosystem of solutions and third-party fintechs. Jack Henry has integrated over 850 fintechs into its ecosystem and maintains relationships with all major financial-data aggregators.
In July 2021, Jack Henry broadened its collaboration with Autobooks to integrate payment and invoicing features into the Banno Digital Platform. This enhancement provides over 500 community banks and credit unions, along with more than 5 million registered users, with access to upgraded tools. These tools empower businesses within their communities with local support and comprehensive digital solutions.
In March 2020, Jack Henry & Associates announced the full integration of BusinessManager into the SilverLake System core platform, simplifying accounts receivable (A/R) financing. This integration enables financial institutions to offer funding to their business customers more quickly, efficiently, and accurately.
Jack Henry & Associates Mergers and Acquisitions (M&A) Activities
In September 2022, Jack Henry finalized its acquisition of Payrailz, incorporating its advanced digital payment capabilities into Jack Henry's payment ecosystem. This move supports Jack Henry's modernization strategy, empowering banks and credit unions to compete effectively, innovate quickly, and meet evolving consumer and commercial needs. The acquisition strengthens Jack Henry's payments-as-a-service strategy, aligning with its commitment to open banking and facilitating embedded finance and fintech. This reinforces Jack Henry's mission to enhance connections between people and financial institutions, promoting financial health through technology and services.
In May 2021, Jack Henry acquired a suite of tools and analytics from Stackfolio, integrating them into its cloud-based infrastructure. This move enables the banks and credit unions supported by Jack Henry to access proprietary research and analytics on lending trends and activity. By leveraging Jack Henry Lending, institutions of all sizes can make more informed trading decisions nationally, increasing efficiency. This unified system facilitates both commercial and consumer lending needs, streamlining operations for financial institutions
In July 2019, Jack Henry & Associates acquired Geezeo, originally a white label PFM provider. Geezeo has since evolved into a crucial partner for financial institutions, offering flexible integration through its open API for online and mobile banking environments. By processing and enhancing millions of transactions, Geezeo facilitates seamless and discreet integration, maintaining institutions' brand identity and enhancing customer engagement for increased revenue opportunities.
In October 2018, Jack Henry & Associates completed the acquisition of BOLTS Technologies. The financial sector is increasingly prioritizing the transformation of traditional services through digital platforms. With businesses and consumers alike preferring digital transactions, the demand for online and mobile account opening services is steadily rising. Meeting this demand requires a cutting-edge solution that effectively blends user experience, robust security measures, and self-service capabilities for administration and customization.
Jack Henry & Associates Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Jack Henry & Associates applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Jack Henry & Associates and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified ProfitStars, Jack Henry Banking, Symitar customers.
Jack Henry & Associates Overview
663 W Hwy 60
Monett, MO, 65708, United States
1 417-235-6652
https://www.jackhenry.com/
Ownership: - NASDAQ : JKHY
Number of Employees: 7120
Functional Markets: Analytics and BI, Content Management, CRM, eCommerce, ERP Financial, ERP Services and Operations, TRM,
Key Verticals: Banking and Financial Services,
Jack Henry & Associates Key Enterprise and Cloud Applications
ProfitStars, Jack Henry Banking, Symitar
Jack Henry & Associates Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Jack Henry & Associates Revenue Breakdown By Type, $M:
Jack Henry & Associates Enterprise Applications Revenues By Functional Markets, $M:
Jack Henry & Associates Enterprise Applications Revenues By Verticals, $M:
Jack Henry & Associates Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
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| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Jack Henry & Associates Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
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| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Jack Henry & Associates Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Jack Henry & Associates Customers
No. of Jack Henry & Associates Customers: 7500
No. of Jack Henry & Associates Enterprise Applications Customers: 7500
No. of Jack Henry & Associates Cloud Customers: x
No. of Jack Henry & Associates Cloud Subscribers: x
Jack Henry serves a customer base exceeding 7,500, with over 1,650 being core customers within the bank and credit union sectors, and close to 5,880 being non-core customers. Their products and services are primarily tailored for community and regional financial institutions.
Jack Henry offers integrated core bank data processing systems to 940 banks, spanning from newly established to multi-billion-dollar institutions with assets of up to $50 billion. While the number of served banks decreased due to industry mergers and acquisitions, their solutions support both on-premise and private cloud environments with distinct core processing platforms and integrated complementary offerings.
Jack Henry provides core credit union data processing solutions to credit unions of all sizes, serving over 710 clients. Their offerings include a flagship core processing platform and integrated complementary solutions for both on-premise and private cloud environments.
In addition to core offerings, Jack Henry provides specialized, core-agnostic products and services to financial institutions. These include financial performance, imaging, payments processing, information security, risk management, retail delivery, and online/mobile functionality. These offerings enhance the performance of traditional financial organizations and diverse corporate entities.
Jack Henry serves a diverse range of customers, including First PREMIER Bank, Pacific National Bank, Rock Valley Credit Union, Freedom Credit Union, Shell Federal Credit Union, Florida Credit Union, Nassau Financial Federal Credit Union, First National Bank of Bastrop, Libertyville Savings Bank, DHCU Community Credit Union, The Summit Federal Credit Union, LowellBank, Northwest Federal Credit Union, Andrews Federal Credit Union, First Command Bank, Peach State Bank & Trust, Farmers State Bank, Community Choice Credit Union, American Airlines Federal Credit Union, and First Community Bank.
Jack Henry & Associates Market Opportunities, M&A and Geo Expansions
In October 2023, Jack Henry introduced Jack Henry Financial Crimes Defenderâ„¢, a cloud-native fraud and anti-money laundering solution prioritizing real-time capabilities. This platform empowers community and regional financial institutions to proactively combat financial crimes across channels. It aligns with Jack Henry's technology modernization strategy, offering cloud-native solutions to accelerate innovation, strategic differentiation, and meet evolving customer needs. Built on the public cloud, the platform enables real-time data, accurate reporting, open integrations, and enhanced agility.
In June 2023, Jack Henry introduced the Payrailz Fraud Monitor, a cloud-native, AI-driven feature of the Payrailz Digital Payments Platform. This tool offers real-time fraud detection during payment transactions by leveraging AI and machine learning to assess multiple fraud indicators. Financial institutions can customize score ranges and thresholds based on their risk tolerance, while the AI-powered engine continuously learns to detect evolving fraud patterns.
In October 2022, Jack Henry launched its standalone person-to-person (P2P) payments solution, powered by the Payrailz Digital Payments Platform. This solution offers flexible, real-time payments, allowing users to send money using mobile numbers or email addresses. It operates as an open-loop system, enabling transactions across different payment networks. The solution includes fraud mitigation features like one-time passwords and real-time fraud monitoring. It can be seamlessly integrated into existing digital banking platforms.
At the start of 2021, over 150 banks and credit unions chose Gladiator Hosted Network Solutions (HNS) to oversee their IT infrastructure within Jack Henry's private cloud environment.
Jack Henry & Associates Risks and Challenges
Market risk encompasses the possibility of losses stemming from fluctuations in market prices, interest rates, indices, volatilities, correlations, or liquidity, affecting specific financial instruments or groups of instruments. Currently, the company faces credit risk from customer credit extensions and interest risk from outstanding debt.
Jack Henry & Associates Ecosystem, Partners, Resellers and SI
In October 2022, Jack Henry expanded its partnership with Mastercard to enable banks and credit unions to offer their customers the secure ability to view all their financial accounts, both within and outside their primary institution, in a single platform. This collaboration establishes an affordable, API-based data-gathering solution for community and regional financial institutions.
In September 2022, Jack Henry announced a partnership with Google Cloud to advance its multi-year next-generation technology strategy, aimed at empowering community and regional financial institutions to innovate rapidly and meet the changing needs of their customers. This collaboration involves leveraging the public cloud to complement Jack Henry's existing core systems. It aligns with Jack Henry's mission to enhance connections between people and financial institutions by reducing barriers to financial health through technology and services. Through this partnership, Jack Henry aims to centralize financial institutions' access to a wide range of solutions, including its own and leading fintechs, via a single, secure, and scalable cloud-first platform.
In October 2021, Jack Henry announced the integration of Finicity, Akoya, and Plaid as pioneers in open banking to the Banno Digital Platform via the Banno Digital Toolkit. This toolkit enables financial institutions to utilize the same API layer as the Banno Digital Platform for creating and customizing integrated fintech solutions. Jack Henry offers a growing library of popular financial services apps fully integrated into the Banno Platform, providing fast, secure access to fintech solutions. The Banno Digital Toolkit surpasses traditional SDKs by offering endless innovation possibilities and complete efficiency through integrated back-office support, driving deeper customer engagement and loyalty with a seamless, branded digital banking experience.
In June 2020, Jack Henry & Associates collaborated with NuData Security, a Mastercard company, to bolster the Banno Digital Platform with behavioral security. As banks and credit unions transition to digital experiences, the imperative to mitigate risk by distinguishing genuine users from fraudulent ones grows. The Banno Digital Platform now integrates behavioral technology to detect high-risk users in real-time during login. This technology, powered by NuData Security, is accessible to any financial institution using the Banno Digital Platform, regardless of their card brand affiliations.
In August 2020, Lakeside Bank partnered with Jack Henry & Associates to uphold its community-centric approach and drive growth via digital banking and expanded services. "
Jack Henry & Associates Cloud Infrastructure Insights
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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