Greenpenny Powers Green Energy Transition with Jack Henry

Rhea-AI Summary

Jack Henry (Nasdaq: JKHY) recently announced a partnership with greenpenny, a digital bank focused on sustainable energy lending. This collaboration aims to enhance automation and boost efficiencies at greenpenny, enabling personalized customer experiences through digital channels. Greenpenny has financed around 1,100 solar projects, offsetting nearly 33,000 tons of CO2 annually since its launch in 2021. The agreement will provide greenpenny with access to Jack Henry's comprehensive technology suite, supporting its growth in the renewable energy sector. This partnership aligns with greenpenny's mission to facilitate the green energy transition in the Midwest.

Positive

• Partnership with greenpenny enhances automation and efficiency.
• Access to Jack Henry's comprehensive technology suite supports growth.
• greenpenny financed around 1,100 solar projects, offsetting nearly 33,000 tons of CO2 annually.

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• None.

New relationship will help digital bank boost automation, increase efficiencies, and continue growth

MONETT, Mo., Jan. 23, 2023 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today that greenpenny has selected Jack Henry to empower its mission of facilitating the green energy transition in the Midwest.

Greenpenny is a virtual bank focused on sustainable energy lending and powered by Decorah Bank & Trust Co., an employee and family-owned bank located in Decorah, Iowa, with a long history of financing renewable energy projects. Launched in 2021, greenpenny offers consumers and businesses a full suite of banking products and dedicates its deposits to financing renewable energy and/or carbon-reducing projects. In only two years, the bank financed approximately 1,100 solar projects offsetting just under 33,000 tons of CO2 annually.

Greenpenny chose Jack Henry to increase automation and boost efficiencies, enabling employees to spend more time with customers, delivering a high-touch, personalized experience using digital channels. With Jack Henry, the bank will gain access to an open and comprehensive technology suite, including core processing, real-time payments, bill payment capabilities, fraud detection and more, which will help power growth beyond its current footprint.

Jason MacDuff, president at greenpenny, said, "At greenpenny, our aim is to inspire the use of clean energy regionally and nationally, and teach consumers that where they keep their money matters. Our focus on renewable energy has enabled us to grow significantly over the last couple of years and our customers expect a modern and frictionless virtual banking experience. Jack Henry's open and flexible technology will help us meet customers' demands and further automate processes, enabling us to scale while continuing to deliver community bank customer service."

Stacey Zengel, senior vice president of Jack Henry and president of Bank Solutions, said, "Jack Henry's open, modern infrastructure enables niche banks like greenpenny to develop what they need for highly specialized communities. We are proud to help them achieve this vision with a digital-first community and scale that brings convenience to financing and a deeper sense of purpose to banking relationships."

About greenpenny

Greenpenny, powered by Decorah Bank and Trust, is a virtual, carbon-neutral bank dedicated to financing a sustainable tomorrow. Headquartered in Decorah, Iowa, a community with one of the highest solar adoption rates, per capita, in the nation, greenpenny is working to be a catalyst for greater adoption of renewable energy by financing projects that help protect Mother Earth and make economic sense. After financing hundreds of solar projects across the Midwest, greenpenny is known for expertise, flexibility and transparency. The bank currently offers residential and commercial renewable energy financing in Iowa, Illinois, Minnesota, Missouri and Wisconsin; deposit products are available nationally. Money deposited in greenpenny is only used to fund clean energy and/or carbon-reducing projects. More information can be found at www.greenpenny.bank . Greenpenny is member of FDIC and an Equal Housing Lender.

About Jack Henry & Associates, Inc.^® 

Jack Henry™ (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.   

Statements made in this news release that are not historical facts are "forward-looking statements." Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the Company's Securities and Exchange Commission filings, including the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Any forward-looking statement made in this news release speaks only as of the date of the news release, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.

 

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SOURCE Jack Henry & Associates, Inc.

FAQ

What is the significance of the partnership between Jack Henry and greenpenny?

The partnership aims to enhance automation and efficiency at greenpenny, aiding its growth in the sustainable energy sector.

How many solar projects has greenpenny financed?

greenpenny has financed approximately 1,100 solar projects since its launch in 2021.

What are Jack Henry's offerings to greenpenny?

Jack Henry provides a comprehensive technology suite, including core processing and fraud detection capabilities.

How does greenpenny contribute to sustainability?

greenpenny focuses on financing renewable energy and carbon-reducing projects, promoting a green energy transition.