Jack Henry and NYDIG to Offer Bitcoin Services to Financial Institutions
Jack Henry & Associates (NASDAQ: JKHY) is partnering with NYDIG to enhance access to bitcoin services for financial institutions. This collaboration allows consumers and businesses to utilize NYDIG's buy-hold-sell capabilities through the Banno Digital Platform and facilitates transactions via JHA PayCenter over the RTP network. This initiative aims to address growing demand for bitcoin services and create non-interest income opportunities for banks and credit unions, ultimately improving their competitive edge.
- Partnership with NYDIG expands bitcoin service offerings for financial institutions.
- Access to NYDIG's capabilities via Banno Digital Platform enhances customer experience.
- Opportunity for banks to generate non-interest income through cryptocurrency services.
- None.
Arrangement will expand accountholders access to bitcoin capabilities
MONETT, Mo., May 10, 2022 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ:JKHY) announced today that it's working with NYDIG, a leader in bitcoin technology and financial services solutions, to enable financial institutions to make bitcoin more accessible to accountholders.
Many consumers and businesses are looking to their financial institutions to provide bitcoin services, which this relationship will solve. Consumer and business accounts will be able to access NYDIG's buy-hold-sell capabilities through the Banno Digital Platform™, with JHA PayCenter™ facilitating payments to and from NYDIG over the RTP® network. Jack Henry's digital banking platform currently supports regional and community financial institutions in the U.S., offering leading capabilities and access to popular third-party apps to more than 7.1 million consumers.
Rahm McDaniel, Head of Banking Solutions at NYDIG, said, "Jack Henry is a key access point to community financial institutions and Main Street America. Together, we are bridging access to broader financial tools for Jack Henry customers. This relationship marks an important step toward making bitcoin services more obtainable for both financial institutions and their accountholders. "
Banks and credit unions can benefit from the opportunities cryptocurrency presents, such as opening a new and significant non-interest income opportunity, as well as enabling automated savings, wealth-tech, and fractional-investing options for accountholders. This relationship enables financial institutions to offer competitive services that meet the needs of today's consumers and businesses and improve their financial health, further establishing their place as trusted providers in their financial lives.
Julie Morlan, senior managing director of digital solutions at Jack Henry, said, "It's important for financial institutions to be at the center of financial transactions, and our work with NYDIG is a great example of how we can collaborate to make this a reality. Our relationship with NYDIG helps more banks and credit unions meet today's modern payment demands. It supports our mission of equipping financial institutions with optionality and access to a broader financial ecosystem, maintaining first-app status for consumers' financial needs."
About NYDIG
NYDIG is a bitcoin company powering a more inclusive economic system. Delivering technology and financial services to businesses in a broad range of industries, its full-stack bitcoin platform is built to the highest security, regulatory, and operational standards. NYDIG is the gateway to a new era of financial products that make bitcoin more accessible for all. Learn more at nydig.com, or connect on LinkedIn and Twitter.
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ:JKHY) is a leading SaaS provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 8,000 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
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SOURCE Jack Henry & Associates, Inc.
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