Jack Henry Introduces Refreshed Brand Focused on Strengthening Connections

Rhea-AI Summary

Jack Henry has launched a unified brand, consolidating its three distinct brands into the singular Jack Henry brand. This initiative aims to enhance client experiences by streamlining operations and modernizing technology for community financial institutions. The company emphasizes reducing barriers to financial health, with a mission statement targeting the 66% of Americans deemed financially unhealthy. Additionally, Jack Henry's next-generation strategy focuses on a cloud-native open-banking platform and has integrated over 850 fintechs to provide comprehensive solutions.

Positive

• Rebranding to a single Jack Henry brand enhances client experience and operational efficiency.
• Focus on reducing financial health barriers aligns with pressing consumer needs, particularly 66% of Americans lacking financial health.
• Development of a cloud-native open-banking platform positions the company for future growth.
• Integration with over 850 fintechs enhances service offerings.

Negative

• None.

Unified Jack Henry brand reinforces company's mission to improve financial health for consumers and businesses

MONETT, Mo., Aug. 2, 2022 /PRNewswire/ -- Jack Henry & Associates, Inc.^® (Nasdaq: JKHY) announced today the launch of a refreshed brand that reinforces Jack Henry's 46-year history of providing modern technology and services to community and regional financial institutions that enable them to strengthen connections with accountholders. The company is consolidating its three distinct brands – Jack Henry Banking^®, Symitar^®, and ProfitStars^® – to a singular Jack Henry™ brand.

Uniting the brands reflects Jack Henry's role as a well-rounded financial technology provider and an advocate for community and regional financial institutions – with a mission to help reduce barriers to financial health. Over the years, the company has continued to evolve and build its capabilities while staying true to its founding philosophy.

"Our rebrand is the outcome of the work we've done to modernize our technology, streamline operations, and operate as one company, resulting in a better client experience," said Jack Henry Board Chair and CEO David Foss. "We now have a platform to speak from a single, consistent voice as we continue to help community and regional financial institutions strengthen connections with accountholders by offering a full array of solutions and access to a wide network of fintech partners." 

Jack Henry recognizes that approximately 166 million Americans, or 66% of the population, are not considered financially healthy, according to the Financial Health Network's 2021 U.S. Trends Report. To that end, the company recently developed a new mission statement focused on strengthening connections between people and financial institutions through technology and services that help reduce the barriers to financial health. Jack Henry also became a member of the Financial Health Network and joined its efforts to unite industries, business leaders, policymakers, innovators, and visionaries to improve financial health.

"We believe that community and regional financial institutions are uniquely positioned to help consumers and businesses achieve financial health," Foss said. "As a well-rounded financial technology provider, it's our role to provide technology and services that help them better serve their accountholders."

As part of its mission, Jack Henry announced its next-generation technology strategy, centered on the company's ongoing development of a single, cloud-native open-banking platform. This initiative builds on Jack Henry's industry leading, open-API digital banking platform, which enables easy access to a broad ecosystem of Jack Henry solutions and high-grade, third-party fintechs. The company has integrated more than 850 fintechs into its ecosystem and is the only platform provider with relationships with all four major financial-data aggregators.   

"It is not uncommon for consumers to use between 20 and 30 different financial applications and services, which makes it hard to keep track of their overall financial situation," Foss said. "We are providing modern technology that puts community and regional financial institutions at the center of their accountholders' financial lives to help reduce financial fragmentation and promote healthier financial decisions."

The rebrand also reflects the company's focus on corporate responsibility and being a force for good. Jack Henry is committed to environmentally friendly practices to support a strong future and was recognized as one of Newsweek's America's Most Responsible Companies in 2022.

As part of its rebranding, Jack Henry introduced a new external website that reflects its evolution and details how it is connecting possibilities for financial institutions and the people and businesses they serve. The company updated its visual identity to honor the company's past while bringing the business units together under one Jack Henry brand.

"The new site is more than just a reflection of our new visual identity," said Jeff Vandevelde, senior director of Jack Henry Marketing. "It explains who we are as a company and how we build relationships with our clients, listen to understand their needs and business challenges, and deliver solutions to help them achieve success and meet the evolving needs of their accountholders through people-inspired innovation."

For more information, visit www.jackhenry.com.

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 recent change has Jack Henry & Associates made regarding their brand?

Jack Henry has consolidated its three distinct brands into a singular Jack Henry brand to enhance client experience.

What is the mission statement of Jack Henry as of August 2022?

Jack Henry's mission statement focuses on strengthening connections between financial institutions and consumers to reduce barriers to financial health.

How many fintechs has Jack Henry integrated into its ecosystem?

Jack Henry has integrated over 850 fintechs into its ecosystem.

What percentage of Americans are considered financially unhealthy according to Jack Henry?

Approximately 66% of Americans are considered financially unhealthy.

What is the significance of the new cloud-native platform announced by Jack Henry?

The cloud-native open-banking platform is aimed at modernizing their technology and enhancing service offerings for community financial institutions.