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Overview of Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. is a well-established financial technology company that provides integrated core processing and digital banking solutions to commercial banks, credit unions, and other financial institutions. Its industry-specific software systems offer comprehensive support for deposit, loan, and general ledger processing, while also ensuring centralized customer data management. The company operates within the competitive digital banking and fintech sectors, positioning itself as a major provider for the small to midsize financial institution market.
Core Business and Platforms
At the heart of Jack Henry's operations is a suite of robust, scalable platforms designed to streamline banking operations. These include three prominent banking platforms tailored for different types of financial institutions and two specialized credit union platforms. By offering diversified software solutions such as integrated applications for transactional processing alongside complementary technologies, Jack Henry addresses the operational needs of its clients while enhancing efficiency and security.
Complementary Services and Solutions
In addition to core system processing, Jack Henry extends its service offering with a range of value-added products. Its portfolio includes business intelligence and management solutions, retail delivery capabilities, EFT services, internet banking solutions, risk management systems, document imaging, and payment processing modules. These services are crafted to support banks and credit unions by reducing operational risks, mitigating costs, and expanding service capabilities through an open, modern, and customizable technology ecosystem.
Operational Excellence and Customer Focus
Jack Henry places a strong emphasis on the user centricity and openness of its solutions, ensuring that even community-based financial institutions can leverage modern technology to remain competitive. Known for its collaborative approach, the company integrates well with leading fintech partners, fostering innovation and continuous improvement within its service offerings. This strategy is supported through both on-premise and cloud-hosted solutions, which drive operational efficiency and streamline processes across the board.
Market Position and Strategic Importance
Serving a diverse client base that includes hundreds of banks and credit unions, Jack Henry holds a significant position in the financial technology space. It is renowned for its ability to deliver high-quality, user-friendly, and secure solutions that are crucial for routine banking operations and regulatory compliance. The company has consistently demonstrated its expertise by supporting institutional mergers, facilitating data conversion during acquisitions, and offering modern digital payment solutions. This robust ecosystem not only helps banks and credit unions manage their daily operations but also positions them to address emerging market challenges through advanced technological integration.
Technological Integration and Industry Impact
Through its vibrant ecosystem of internally developed capabilities and open architecture, Jack Henry empowers financial institutions to innovate rapidly. The company’s technology enables seamless integration with third-party fintech services, providing flexibility and scalability required for dynamic market conditions. Its emphasis on a customizable platform means that clients enjoy tailored solutions that address specific operational needs, from improving customer interactions to enhancing back-end processing and risk management.
Overall, Jack Henry & Associates, Inc. is distinguished by its expert handling of complex financial processes, its comprehensive suite of integrated solutions, and a commitment to empowering financial institutions through innovative technology. Its multi-faceted approach addresses operational challenges head-on, thereby facilitating faster innovation, efficient service delivery, and enhanced customer experience without compromising on security or reliability.
Jack Henry (JKHY) has announced a strategic collaboration with Visa to integrate Visa Direct into Jack Henry Rapid Transfers™. This partnership, part of Jack Henry's alliance with Moov, aims to enhance digital payment services for community and regional financial institutions.
The integration will enable real-time account-to-account money transfers through the Visa Direct network, allowing customers to move funds between different bank accounts instantly. The service will provide emergency access to funds for unexpected expenses and urgent payments.
This implementation marks the first phase of Jack Henry's collaboration with Moov, with a cloud-native merchant acquiring solution to follow. The initiative is designed to help financial institutions modernize their payment offerings, strengthen customer relationships, and increase deposits.
Jack Henry & Associates (NASDAQ: JKHY) reported deconversion revenue of $0.1 million for the fiscal second quarter ended December 31, 2024. The company maintains its full-year fiscal 2025 deconversion revenue guidance at $16 million.
Deconversion revenue primarily occurs when a Jack Henry client is acquired by another financial institution, leading to contract termination. Since these revenues are driven by external factors and don't reflect the company's core operations, Jack Henry excludes deconversion revenue from its non-GAAP revenue reporting in quarterly and annual earnings releases.
Jack Henry (JKHY) highlights its successful partnership with Corpay for international wire transfers since September 2023. The collaboration integrates Corpay's Cross-Border Solutions with Jack Henry's platform through jXchange™, ensuring secure data exchange and maintaining data integrity.
Peapack Private Bank & Trust reports successful onboarding of over 200 clients to Corpay's platform, praising their communication and service quality. Corpay is developing a new user interface and digital wallet capabilities to enhance services for Jack Henry Wires customers.
The partnership combines core banking technology with cross-border payment processing to streamline operations and improve global payment experiences. Corpay will also serve as the provider for international wire transfers via the Jack Henry Wires™ platform, which offers next-generation capabilities for creating, sending, and receiving wire transfers for community and regional financial institutions.
Jack Henry & Associates (NASDAQ: JKHY) has announced its upcoming second quarter 2025 earnings communication schedule. The company will release its Q2 2025 earnings press release after market close on February 4, 2025, followed by a live webcast earnings conference call on February 5, 2025 at 7:45 a.m. Central time.
Investors can access the webcast through www.jackhenry.com, with login recommended 10 minutes before the call. For direct dial-in, US participants can call 833-630-0605, while international participants should dial +1 412-317-1830. An archived replay will be available approximately one hour after the live call on the company's website or via phone at 877-344-7529 (conference ID: 4886307).
Additionally, JKHY will separately announce its Q2 2025 deconversion revenue results after market close on January 27, 2025, prior to the full earnings release.
Jack Henry's Symitar has maintained its position as the leading platform for credit unions, according to Callahan & Associates' annual report. The platform serves over 700 credit unions across three providers and achieved the most significant growth among 28 core platforms serving credit unions with $400M+ in assets.
Symitar leads in serving credit unions with over $1B in assets, now supporting 212 credit unions - an increase of 19 from last year. It has also become the leader in the $250M to $1B asset segment. The report highlighted credit union membership growth of 2.4%, adding 3.3 million new members.
Jack Henry (JKHY) has been recognized in Forbes' 2025 Most Trusted Companies in America list, securing the 82nd position among U.S. public companies with over 1,000 employees. The ranking was developed in partnership with Glassdoor, HundredX, and Signal AI, evaluating companies across four key categories: employee trust, customer trust, investor trust, and media sentiment.
President and CEO Greg Adelson emphasized that this recognition validates the company's founding principle of doing the right thing and demonstrates the importance of integrity and trustworthiness to all stakeholders. The ranking process evaluated 2,000 companies, with the top 300 making the final list.
CommonWealth Central Credit Union has selected Jack Henry (Nasdaq: JKHY) to modernize its technology infrastructure and support future growth. The credit union, which has grown from 10 members and $104 in assets in 1958 to nearly 40,000 members and $632 million in assets today, chose Jack Henry for its open approach and commitment to technology modernization. The partnership aims to help CommonWealth facilitate innovation, modernize operations, and enhance member service to better compete with larger financial institutions. The new platform will provide improved functionality, flexibility, and third-party integration capabilities, enabling the credit union to develop new products and services while improving operational efficiencies.
Jack Henry & Associates (NASDAQ: JKHY) has announced that its Board of Directors has declared a regular quarterly cash dividend of $0.55 per share. The dividend will be paid on December 23, 2024, to stockholders of record as of December 2, 2024. The dividend applies to the company's common stock with a par value of $0.01 per share.
Jack Henry (Nasdaq: JKHY) announced that First Bank of Alabama has selected their technology solutions to modernize its operations and enhance customer experience. The Talladega-based community bank, established in 1848, focuses on serving rural markets with both commercial and retail banking services. Through two significant acquisitions in the past seven years, the bank has grown from $400 million in assets and three branches to over $1.1 billion in assets and 13 branches.
Jack Henry (Nasdaq: JKHY) announces upcoming conference presentations by President & CEO Greg Adelson and CFO & Treasurer Mimi Carsley. Adelson will present at three major events: the RBC Capital Markets Conference (Nov. 20), Stephens Annual Investment Conference (Nov. 21), and UBS Global Technology & AI Conference (Dec. 4). Carsley is scheduled for the KBW Fintech Conference (Nov. 14) and Nasdaq 51st Investor Conference (Dec. 10).
All presentations will be available via live webcast, with replays accessible on ir.jackhenry.com after the events.
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