Merchant’s PACT Collaborates with Jack Henry to Integrate Merchant Processing into Digital Banking, Modernizing Merchant Services Programs for Regional and Community Financial Institutions

Rhea-AI Summary

Merchant’s PACT announces the integration of MPACT Offers with Jack Henry's Banno Digital Platform, enhancing merchant processing for nearly 7.9 million accountholders. Utilizing the Banno Digital Toolkit, this partnership streamlines communications and offers targeted content to commercial and SMB clients. MPACT Hub, Merchant’s PACT's open platform, supports this initiative by providing SaaS solutions that modernize banking integrations, leading to increased deposits and reduced disintermediation risks.

Positive

• Integration of MPACT Offers with Banno Digital Platform enhances merchant processing capabilities for accountholders.
• Provides targeted merchant processing content to 7.9 million users, improving user experience.
• SaaS solutions from MPACT Hub offer insights that strengthen financial institutions' competitiveness.

Negative

• None.

Accountholders are empowered with a digital platform for instant merchant processing offers, streamlined communication, and insightful analytics to manage their merchant processing accounts.

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Merchant’s PACT, a fintech payments company that analyzes and streamlines merchant services and accountholder data through core and digital platform integrations, announced MPACT Offers is now accessible through Jack Henry’s Banno Digital Platform.

Merchant’s PACT leveraged the Banno Digital Toolkit^SM, the same set of APIs the Banno Digital Banking Platform is built on, to embed their technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry’s API, design, and authenticated frameworks has enabled Merchant’s PACT to directly integrate into the digital banking platform and core, providing a seamless banking experience for financial institutions and their commercial and SMB accountholders. This integration contributes to Jack Henry’s growing ecosystem of over 850 fintechs, providing approximately 8,000 financial institutions with relevant financial products and services for their accountholders.

Interweaving merchant services into digital and business banking like never before, MPACT Offers provides seamless communications and better functionality for the nearly 7.9 million accountholders with the Banno Digital Platform by delivering dynamic and targeted merchant processing content directly to accountholders.

“MPACT Offers expands our digital banking usability and furthers our capacity to be a 'one stop shop' for our business customers,” said Patsy Templeton, Senior Vice President of Group Operations at Craft Bank a 2020 Denovo Bank.

MPACT Offers is powered by Merchant’s PACT open platform, MPACT Hub, which houses a suite of SaaS solutions to streamline Core and Digital Banking integrations, portfolio data, lead generation insights, marketing assets, and training tools for financial institutions.

“These SaaS solutions provide powerful insights and competitive advantages to financial institutions interested in serving and growing their commercial and SMB accountholder base,” said Ashley Noland, Chief Commercial Officer at Merchant’s PACT.

Modernize commercial and SMB client payment offerings, grow deposits and non-interest income, and reduce disintermediation by accessing Merchant’s PACT turnkey solutions. Click here to learn more or schedule a demo today.

About Jack Henry^™

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.

Merchant’s PACT

Merchant’s PACT is a fintech, payments program management and consulting firm that analyzes and streamlines merchant services and accountholder data through core and digital platform integrations. Merchant’s PACT provides software and payment solutions to financial institutions through an open platform to modernize their SMB and commercial client payment offerings, prevent disintermediation by fintech payment providers and Tier 1 competitors, and interweave merchant services into digital and business banking like never before in the financial services industry. For additional information, visit: https://www.merchantspact.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907005337/en/

Ashley Noland

info@merchantspact.com

502-964-6030

Source: Merchant’s PACT

FAQ

What is MPACT Offers by Merchant's PACT?

MPACT Offers is a service that enhances merchant processing for financial institutions, now integrated with Jack Henry's Banno Digital Platform.

How does the integration with Jack Henry's platform benefit users?

The integration provides streamlined communication and targeted merchant processing content to nearly 7.9 million accountholders.

What does the MPACT Hub offer for financial institutions?

The MPACT Hub provides a suite of SaaS solutions that modernize core and digital banking integrations, enhancing operational efficiency.

How many financial institutions are part of Jack Henry's ecosystem?

Jack Henry's ecosystem includes approximately 8,000 financial institutions.

What is the significance of the Banno Digital Toolkit in this integration?

The Banno Digital Toolkit allows Merchant’s PACT to seamlessly embed their technology into digital banking experiences offered by financial institutions.