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Jack Henry & Associates, Inc.® (Nasdaq: JKHY) is a prominent financial technology company that has been empowering financial institutions for over 47 years. Known for its commitment to openness, collaboration, and user-centric solutions, Jack Henry provides core processing and complementary services to nearly 7,500 clients, including banks and credit unions, primarily in the United States. The company's robust suite of products and services includes core banking platforms like SilverLake, CIF 20/20, and Core Director, as well as credit union platforms such as Episys and Cruise.
Jack Henry's integrated computer systems support in-house and outsourced data processing, covering crucial aspects like deposit, loan, and general ledger transactions. The company's offerings extend to business intelligence and management solutions, internet banking, EFT solutions, risk management, item and document imaging, payment processing solutions, and professional services.
Recent achievements highlight Jack Henry's continuous innovation. The company's digital banking platform Banno recently integrated with Bits of Stock, allowing community financial institutions to offer stock rewards to customers. This integration enhances Jack Henry's ecosystem of over 950 fintechs, bringing modern financial products to approximately 7,500 financial institutions.
In fiscal second quarter 2024, Jack Henry reported deconversion revenue of $4.9 million, with full-year guidance maintaining estimates at $16 million. Deconversion revenue, typically arising from customer acquisitions by other institutions, is not reflective of Jack Henry's core operations but is significant for financial reporting.
Notable partnerships include Legacy Bank & Trust, which doubled its asset size by leveraging Jack Henry's scalable hosted core processing solution, and United Bank, which selected Jack Henry to modernize operations and improve customer experience through tools like the Banno Digital Platform™ and LoanVantage®. Additionally, the successful merger of UniWyo Credit Union and Reliant Federal Credit Union was facilitated by Jack Henry's seamless data conversion and integration capabilities, showcasing the company's ability to support significant transformation projects.
As an S&P 500 company, Jack Henry remains dedicated to helping clients innovate, differentiate, and compete effectively in the evolving financial landscape. The company's people-inspired innovation and personal service continue to reduce barriers to financial health, fostering strong connections between financial institutions and the communities they serve. For more information, visit the official website at www.jackhenry.com.
Jack Henry & Associates (NASDAQ: JKHY) has announced a 6% increase in its quarterly dividend to $0.58 per share. The dividend will be paid on March 25, 2025, to stockholders of record as of March 6, 2025. This marks the company's 21st consecutive year of dividend increases, with JKHY maintaining an unbroken streak of quarterly dividend payments since 1991.
Jack Henry (JKHY) announced that Azura Credit Union has selected its Symitar® open technology platform to modernize services and drive growth. Azura, founded in 1939, manages over $822 million in assets, operates 12 offices in Northeast Kansas, and serves more than 62,000 members.
The credit union chose Jack Henry's platform for its open and flexible architecture, enabling seamless fintech integration and broader service delivery. The technology will support Azura's data and AI strategies, helping enhance operational efficiencies and gain deeper community insights. The platform's single enterprise approach and continuous evolution were key factors in the selection decision.
Jack Henry & Associates (JKHY) reported strong Q2 FY2025 results with GAAP revenue increasing 5.2% to $573.8 million and non-GAAP adjusted revenue growing 6.1%. GAAP operating income rose 3.4% to $123 million, while non-GAAP adjusted operating income increased 7.3%.
Key financial highlights include:
- GAAP EPS of $1.34 per diluted share, up from $1.26 in prior year quarter
- Services and Support revenue grew 3.5% to $323 million
- Processing revenue increased 7.3% to $250.8 million
- Operating margin was 21.4%
The company maintained its full-year FY2025 guidance with GAAP revenue expected between $2,369-$2,391 million and GAAP EPS projected at $5.78-$5.87. Management reported record Q2 sales attainment for the second consecutive year while maintaining a robust sales pipeline.
Jack Henry (JKHY) has announced a strategic collaboration with Visa to integrate Visa Direct into Jack Henry Rapid Transfers™. This partnership, part of Jack Henry's alliance with Moov, aims to enhance digital payment services for community and regional financial institutions.
The integration will enable real-time account-to-account money transfers through the Visa Direct network, allowing customers to move funds between different bank accounts instantly. The service will provide emergency access to funds for unexpected expenses and urgent payments.
This implementation marks the first phase of Jack Henry's collaboration with Moov, with a cloud-native merchant acquiring solution to follow. The initiative is designed to help financial institutions modernize their payment offerings, strengthen customer relationships, and increase deposits.
Jack Henry & Associates (NASDAQ: JKHY) reported deconversion revenue of $0.1 million for the fiscal second quarter ended December 31, 2024. The company maintains its full-year fiscal 2025 deconversion revenue guidance at $16 million.
Deconversion revenue primarily occurs when a Jack Henry client is acquired by another financial institution, leading to contract termination. Since these revenues are driven by external factors and don't reflect the company's core operations, Jack Henry excludes deconversion revenue from its non-GAAP revenue reporting in quarterly and annual earnings releases.
Jack Henry (JKHY) highlights its successful partnership with Corpay for international wire transfers since September 2023. The collaboration integrates Corpay's Cross-Border Solutions with Jack Henry's platform through jXchange™, ensuring secure data exchange and maintaining data integrity.
Peapack Private Bank & Trust reports successful onboarding of over 200 clients to Corpay's platform, praising their communication and service quality. Corpay is developing a new user interface and digital wallet capabilities to enhance services for Jack Henry Wires customers.
The partnership combines core banking technology with cross-border payment processing to streamline operations and improve global payment experiences. Corpay will also serve as the provider for international wire transfers via the Jack Henry Wires™ platform, which offers next-generation capabilities for creating, sending, and receiving wire transfers for community and regional financial institutions.
Jack Henry & Associates (NASDAQ: JKHY) has announced its upcoming second quarter 2025 earnings communication schedule. The company will release its Q2 2025 earnings press release after market close on February 4, 2025, followed by a live webcast earnings conference call on February 5, 2025 at 7:45 a.m. Central time.
Investors can access the webcast through www.jackhenry.com, with login recommended 10 minutes before the call. For direct dial-in, US participants can call 833-630-0605, while international participants should dial +1 412-317-1830. An archived replay will be available approximately one hour after the live call on the company's website or via phone at 877-344-7529 (conference ID: 4886307).
Additionally, JKHY will separately announce its Q2 2025 deconversion revenue results after market close on January 27, 2025, prior to the full earnings release.
Jack Henry's Symitar has maintained its position as the leading platform for credit unions, according to Callahan & Associates' annual report. The platform serves over 700 credit unions across three providers and achieved the most significant growth among 28 core platforms serving credit unions with $400M+ in assets.
Symitar leads in serving credit unions with over $1B in assets, now supporting 212 credit unions - an increase of 19 from last year. It has also become the leader in the $250M to $1B asset segment. The report highlighted credit union membership growth of 2.4%, adding 3.3 million new members.
Jack Henry (JKHY) has been recognized in Forbes' 2025 Most Trusted Companies in America list, securing the 82nd position among U.S. public companies with over 1,000 employees. The ranking was developed in partnership with Glassdoor, HundredX, and Signal AI, evaluating companies across four key categories: employee trust, customer trust, investor trust, and media sentiment.
President and CEO Greg Adelson emphasized that this recognition validates the company's founding principle of doing the right thing and demonstrates the importance of integrity and trustworthiness to all stakeholders. The ranking process evaluated 2,000 companies, with the top 300 making the final list.
CommonWealth Central Credit Union has selected Jack Henry (Nasdaq: JKHY) to modernize its technology infrastructure and support future growth. The credit union, which has grown from 10 members and $104 in assets in 1958 to nearly 40,000 members and $632 million in assets today, chose Jack Henry for its open approach and commitment to technology modernization. The partnership aims to help CommonWealth facilitate innovation, modernize operations, and enhance member service to better compete with larger financial institutions. The new platform will provide improved functionality, flexibility, and third-party integration capabilities, enabling the credit union to develop new products and services while improving operational efficiencies.
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