Atomic collaborates with Jack Henry to unlock a digital banking evolution for banks and credit unions

Rhea-AI Summary

Atomic, a leader in payroll connectivity, has integrated its direct deposit setup solution, Deposit, into Jack Henry’s digital banking platform. This collaboration offers financial institutions a streamlined method for customers to manage direct deposits effortlessly. Soft launched in July 2022, the solution enables users of Jack Henry's Banno platform to activate the Deposit plugin quickly. Atomic aims to assist marginalized consumers and help institutions enhance their offerings.

Positive

• Integration of Atomic's Deposit solution into Jack Henry's platform enhances user experience for over 8,000 financial institutions.
• Atomic's technology allows quick activation of direct deposit services for Banno users, improving service delivery.
• Partnership focuses on serving underrepresented populations, fostering a more competitive financial landscape.

Negative

• None.

Community and regional financial institutions can offer account holders a quick, convenient way to set-up and switch direct deposits with the Deposit solution plugin

SALT LAKE CITY--(BUSINESS WIRE)-- Atomic, the market-leading provider of payroll connectivity, announced today that its direct deposit setup and switching solution, Deposit, is now accessible through Jack Henry’s digital banking platform.

Atomic collaborates with Jack Henry to unlock a digital banking evolution for banks and credit unions (Graphic: Business Wire)

Atomic leveraged the Digital Toolkit^TM, the same set of APIs on which the Banno Digital Platform^TM is built, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry’s API, design, and authenticated frameworks has enabled Atomic to directly integrate into the digital banking platform, providing a seamless banking experience. This integration contributes to Jack Henry’s growing ecosystem of over 850 fintech firms, providing approximately 8,000 financial institutions with relevant financial products and services for their account holders.

Atomic rolled out a soft launch for its Deposit plugin on the Jack Henry digital banking platform in July 2022, giving Banno users access to its first-to-market direct deposit switch and set-up solution. Using Atomic’s Deposit solution, financial institutions can enable their customers to digitally set up and switch direct deposits to fund accounts held with them.

With Atomic’s Deposit solution active on the Jack Henry digital banking platform, existing Banno customers can install and activate the Deposit plugin to their bank’s mobile app or online banking platform within hours.

This collaboration is a great example of conjoined fintech that creates stronger wins and greater opportunities for financial institutions of all sizes, fostering a more competitive landscape.

"We aim to help marginalized and underserved consumers,” said Jordan Wright, Co-founder and CEO at Atomic. “In the same way, we strive to help financial institutions of every asset size differentiate and excel–often the regional and community banks are among the hardest to serve underrepresented populations. By partnering, customers are empowered to unlock direct access to account funding streams without needing to invest in modern technological infrastructure or build in-house APIs and integrations required to launch competitive, cutting-edge financial solutions. We’re thrilled about this integration with Jack Henry and the Banno digital banking platform.”

About Jack Henry & Associates, Inc.

Jack Henry^TM (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 45 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 8,000 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.

About Atomic:

Atomic is the market-leading provider of payroll connectivity, trusted by over 160 financial institutions, fintech firms, and partners, including 13 of the largest fintech apps, as well as financial firms offering digital-first neobanks, alternative lending, crypto exchanges, and digital brokerages.

Atomic provides the infrastructure to connect consumers to their financial data, automate set-up and updates to direct deposits, digitize income and employment verifications (VOI/VOE), repay financial obligations from their paycheck, access earned but unpaid wages, and tap tax filing advantages, as well as supporting financial wellness benefits through its EmployerLink solutions. Atomic’s suite of API solutions simplifies complicated payroll and human resource platform integrations that cover over 480 unique payroll connections, including incumbent payroll providers, bespoke enterprise solutions, modern HR tech providers, gig-economy platforms and government systems.

Atomic is ranked by CB Insights as a Fintech 250, selected by Fintech Breakthrough Awards as a Best Banking Transaction Solution, and is recognized as a Top Work Places 2022. Atomic has raised $78.6 million from investors, including Greylock, Mercato Partners, Core Innovation Capital, Portage, and ATX Venture Partners. For more insights on the intersection of fintech and payroll, you can subscribe to Atomic's Intelligence newsletter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221201005373/en/

Jack Henry Press Contact:

Mark Folk Sr. Corporate Communications Manager

(704) 890-5323

Atomic Press Contact:

Lindsay Davis Head of Markets

954-529-3995

Lindsay@atomicfi.com

Source: Atomic

FAQ

What is the Deposit solution by Atomic?

The Deposit solution by Atomic allows users to set up and switch direct deposits quickly and conveniently.

When was the Deposit plugin launched on Jack Henry's platform?

The Deposit plugin was soft launched in July 2022.

How many financial institutions benefit from the partnership between Atomic and Jack Henry?

Over 8,000 financial institutions can utilize the services thanks to the partnership.

What is the goal of Atomic's collaboration with Jack Henry?

The goal is to help marginalized and underserved consumers while enhancing service offerings for financial institutions.

What technology did Atomic use to integrate with Jack Henry's platform?

Atomic used the Digital Toolkit, a set of APIs from the Banno Digital Platform, to integrate its technology.