Jack Henry Enables Faster Payments for More than 250 Financial Institutions
Jack Henry & Associates (NASDAQ: JKHY) is enhancing faster payment solutions for over 250 regional and community financial institutions through its JHA PayCenter™. This proprietary hub connects to the RTP® network and Zelle Network®, streamlining access to faster payment options. Since its 2018 launch, JHA PayCenter has processed over $2 billion in transactions. Currently, more than 170 clients are live on RTP, and Zelle is projected to process over $3 billion by year-end 2022. Jack Henry is also collaborating with the Federal Reserve on the FedNow network.
- Over 250 financial institutions using JHA PayCenter for faster payments.
- Processed over $2 billion in faster payments since 2018.
- 170 clients live on the RTP network, handling over $800 million in transactions.
- Anticipated processing of over $3 billion on the Zelle Network by end of 2022.
- None.
Consumers and businesses gain faster, secure payment options integrated into digital banking experiences
MONETT, Mo., June 22, 2022 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is supporting the faster payments strategies of hundreds of regional and community financial institutions with JHA PayCenter™, its proprietary payments hub that provides seamless connections to The Clearing House's RTP® network and the Zelle Network®, provided by Early Warning Services, LLC. More than 250 financial institutions are leveraging one or both networks today.
JHA PayCenter provides a quicker, more cost effective, more efficient conduit to the faster payments' networks. The proprietary hub also enables financial institutions to accelerate time to market with proven faster payment solutions that expedite funds availability, improve cash flow, and ultimately improve the financial health of consumers and businesses. Since launching in 2018, JHA PayCenter has already processed more than
- More than 170 Jack Henry clients are live on the RTP network, representing over
$800 million in processed transactions, with approximately 60 more scheduled for implementation. RTP Send capabilities were recently added, allowing financial institutions to support accountholders with the ability to seamlessly request payments. - Financial institutions are expected to process over
$3 billion via the Zelle Network® by the end of 2022. Jack Henry is supporting over 200 clients live with Zelle® with another 134 in various stages of the implementation process. Third-party digital platform providers can also take advantage of JHA PayCenter's seamless integration with the faster payment networks. - Jack Henry is also working closely with the Federal Reserve's FedNowSM team on the network's development and will participate in the depository integration test environment.
Tede Forman, vice president, payment solutions at Jack Henry & Associates said, "Faster payments are quickly becoming competitive necessities for financial institutions and as practical uses cases continue to emerge, we expect demand will materially increase. We strategically built JHA PayCenter to support the diverse faster payments strategies of Jack Henry clients, financial institutions using third-party core and digital platforms, as well as other fintechs. The payments hub virtually eliminates the inherent technology and staffing challenges experienced by financial institutions that elect to build and maintain direct connections to one or multiple faster payments networks."
About The Clearing House
The Clearing House operates U.S-based payments networks that clear and settle more than
About Zelle®
Brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions, Zelle® makes it fast, safe, and easy for money to move. The Zelle Network® connects financial institutions of all sizes, enabling consumers and businesses to send fast digital payments to people and businesses they know and trust with a bank account in the U.S. Funds are available directly in bank accounts generally within minutes when the recipient is already enrolled with Zelle®. To learn more about Zelle® and its participating financial institutions, visit www.zellepay.com.
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves more than 8,000 clients nationwide and goes to market through three distinct brands: 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 45 years, we are well-positioned as a driving market force in cloud-based 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 https://www.jackhenry.com/pages/default.aspx.
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SOURCE Jack Henry & Associates, Inc.
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