High Plains Bank, Jack Henry Support Growing Latino Community

Rhea-AI Summary

Jack Henry (Nasdaq: JHKY) partners with High Plains Bank to enhance financial services for Spanish-speaking customers using open banking technology. The collaboration aims to improve financial health opportunities for the underserved market, resulting in higher customer acquisition and engagement.

Open banking infrastructure helps bank offer a full suite of services and improve financial health opportunities for underserved market

MONETT, Mo., March 6, 2024 /PRNewswire/ -- Jack Henry™ (Nasdaq: JHKY) announced today that High Plains Bank is leveraging the company's open technology to create a user experience that caters to Spanish-speaking customers.

Headquartered in Colorado, where the Latino population has grown 72% since 2000, the bank recognized the importance of helping this traditionally underserved market better manage its finances. "We believe everyone deserves the financial services and support to make healthier financial decisions," explained Brian Otteman, chief experience officer of High Plains Bank. "By taking this approach, we can create a more inclusive financial experience that serves our entire community."

The bank worked with Jack Henry to enrich its website and digital banking platform with Spanish-language options, making services more accessible for customers in Spanish. These inclusive technology features are complemented by personal bilingual support through the secure, authenticated chat service available on their banking app, HPBGO. This translation capability has significantly increased the usage of the banking app, ultimately contributing to higher levels of customer acquisition and engagement.

"Jack Henry continues to provide the technology we need to customize and build solutions for this growing yet largely underserved population," Otteman said. "And the results speak loudly. It's common to find that about 1/3 of our customers at any given branch self-identify as Latinx and/or Spanish speaking – sometimes more. We knew it was time to double down on our efforts to support these communities, which is why we've worked closely with providers like Jack Henry to help."

Jack Henry's open banking platform also enables the bank's customers to view all their financial relationships in one place in a secure, well-connected manner – and without screen scraping. Transactions and expenses are enriched and categorized, providing easy visibility into spending habits and patterns. By gaining a better understanding of money flow, customers will further improve their financial health.

To solidify its commitment to creating a safe and comfortable banking environment, High Plains Bank added  comprehensive technology to proactively prevent and detect fraud and financial crimes.

"We're proud to work alongside High Plains Bank. It's rewarding to see a bank intentional and committed to filling the gaps and making a real impact in underserved markets," said Stacey Zengel, senior vice president of Jack Henry and president of Bank Solutions. "These efforts differentiate community financial institutions and reinforce their commitment to financial health."

About High Plains Bank
High Plains Bank, a family and employee-owned community bank founded in 1908 in Flagler, Colorado, is committed to supporting the vitality of communities. With physical branches in Flagler, Bennett, Wiggins, Longmont and Keenesburg, as well as digital banking services through HPBGO.com, High Plains Bank empowers people to manage their financial moments of need and life events. High Plains Bank is FDIC insured.

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 47 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 7,500 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. 

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SOURCE Jack Henry & Associates, Inc.

FAQ

How is Jack Henry (JHKY) collaborating with High Plains Bank?

Jack Henry is providing open technology to help High Plains Bank create a user experience catering to Spanish-speaking customers.

What is the goal of the collaboration between Jack Henry and High Plains Bank?

The goal is to offer a full suite of services and improve financial health opportunities for the underserved market.

How has the Latino population growth in Colorado influenced this collaboration?

The 72% growth in the Latino population in Colorado since 2000 has highlighted the importance of serving this traditionally underserved market.

What technology features have been added to High Plains Bank's website and digital platform?

Spanish-language options and personal bilingual support through the HPBGO app have been implemented to make services more accessible for Spanish-speaking customers.

What impact has the translation capability had on the usage of the HPBGO app?

The translation capability has significantly increased the usage of the app, leading to higher levels of customer acquisition and engagement.