Abound Credit Union Invests in Technology Modernization with Jack Henry
Jack Henry (NASDAQ:JKHY) announced that Abound Credit Union has selected its Symitar® core platform and cloud-based solutions for technology modernization. Abound Credit Union, with $2.4 billion in assets and serving over 130,000 members across Kentucky, will implement Jack Henry's open, cloud-native platform to enhance its banking services.
The credit union will utilize several integrated solutions including Jack Henry Data Hub™, Banno Digital Platform™, and Banno Digital Toolkit™ to provide personalized experiences and seamless third-party integration. The implementation aims to modernize member services and attract younger generations while maintaining the credit union's personal touch.
Jack Henry (NASDAQ:JKHY) ha annunciato che Abound Credit Union ha scelto la sua piattaforma core Symitar® e soluzioni basate sul cloud per la modernizzazione tecnologica. Abound Credit Union, con 2,4 miliardi di dollari in attività e oltre 130.000 membri in tutto il Kentucky, implementerà la piattaforma open e cloud-native di Jack Henry per migliorare i suoi servizi bancari.
La credit union utilizzerà diverse soluzioni integrate, tra cui Jack Henry Data Hub™, Banno Digital Platform™ e Banno Digital Toolkit™, per offrire esperienze personalizzate e un’integrazione fluida con terze parti. L’implementazione mira a modernizzare i servizi ai membri e ad attrarre le generazioni più giovani, mantenendo al contempo il tocco personale della credit union.
Jack Henry (NASDAQ:JKHY) anunció que Abound Credit Union ha seleccionado su plataforma central Symitar® y soluciones basadas en la nube para la modernización tecnológica. Abound Credit Union, con $2.4 mil millones en activos y sirviendo a más de 130,000 miembros en todo Kentucky, implementará la plataforma abierta y nativa en la nube de Jack Henry para mejorar sus servicios bancarios.
La cooperativa de crédito utilizará varias soluciones integradas, incluyendo Jack Henry Data Hub™, Banno Digital Platform™ y Banno Digital Toolkit™, para ofrecer experiencias personalizadas e integración fluida con terceros. La implementación busca modernizar los servicios para los miembros y atraer a generaciones más jóvenes, manteniendo al mismo tiempo el toque personal de la cooperativa.
Jack Henry (NASDAQ:JKHY)는 Abound Credit Union이 기술 현대화를 위해 자사의 Symitar® 코어 플랫폼과 클라우드 기반 솔루션을 선택했다고 발표했습니다. 켄터키 전역에 걸쳐 24억 달러의 자산과 13만 명 이상의 회원을 보유한 Abound Credit Union은 Jack Henry의 오픈 클라우드 네이티브 플랫폼을 도입해 은행 서비스를 향상시킬 예정입니다.
이 신용조합은 Jack Henry Data Hub™, Banno Digital Platform™, Banno Digital Toolkit™ 등 여러 통합 솔루션을 활용해 개인 맞춤형 경험과 원활한 제3자 통합을 제공할 계획입니다. 이번 도입은 회원 서비스를 현대화하고 젊은 세대를 유치하는 동시에 신용조합의 개인적인 서비스를 유지하는 것을 목표로 합니다.
Jack Henry (NASDAQ:JKHY) a annoncé qu'Abound Credit Union a choisi sa plateforme cœur Symitar® et ses solutions basées sur le cloud pour moderniser sa technologie. Abound Credit Union, avec 2,4 milliards de dollars d'actifs et plus de 130 000 membres à travers le Kentucky, va déployer la plateforme ouverte et cloud-native de Jack Henry afin d'améliorer ses services bancaires.
La coopérative de crédit utilisera plusieurs solutions intégrées, notamment Jack Henry Data Hub™, Banno Digital Platform™ et Banno Digital Toolkit™, pour offrir des expériences personnalisées et une intégration fluide avec des tiers. Cette mise en œuvre vise à moderniser les services aux membres et à attirer les jeunes générations tout en conservant la touche personnelle de la coopérative.
Jack Henry (NASDAQ:JKHY) gab bekannt, dass die Abound Credit Union ihre Symitar® Core-Plattform und cloudbasierte Lösungen zur Technologiemodernisierung ausgewählt hat. Die Abound Credit Union, mit 2,4 Milliarden US-Dollar an Vermögenswerten und über 130.000 Mitgliedern in ganz Kentucky, wird die offene, cloud-native Plattform von Jack Henry implementieren, um ihre Bankdienstleistungen zu verbessern.
Die Kreditgenossenschaft wird mehrere integrierte Lösungen nutzen, darunter Jack Henry Data Hub™, Banno Digital Platform™ und Banno Digital Toolkit™, um personalisierte Erlebnisse und nahtlose Integration von Drittanbietern zu bieten. Die Umsetzung zielt darauf ab, die Mitgliederdienste zu modernisieren und jüngere Generationen anzusprechen, während der persönliche Charakter der Kreditgenossenschaft erhalten bleibt.
- Selection of Jack Henry's solutions by a significant credit union with $2.4B in assets
- Expansion of product offering through multiple integrated solutions
- Strategic positioning to attract younger generation customers
- None.
Insights
Jack Henry secures significant tech modernization deal with $2.4B Abound Credit Union, strengthening recurring revenue and competitive position.
This partnership represents a multi-faceted technology win for Jack Henry (JKHY), securing Abound Credit Union's core banking business along with numerous complementary solutions. The implementation of the Symitar platform at a $2.4 billion asset institution with 130,000 members demonstrates JKHY's continued competitiveness in the credit union technology market.
The comprehensive nature of this deal is particularly noteworthy. Beyond the core Symitar platform, Abound is implementing Jack Henry's Data Hub for analytics, the Banno Digital Platform for online/mobile banking, and solutions spanning business banking, payments, lending, and financial crimes. This suggests a substantial total contract value with multiple revenue streams across diverse product lines.
From a strategic perspective, this partnership validates Jack Henry's open banking approach. The press release specifically highlights how JKHY's platform allows for third-party integrations, positioning the company well in the increasingly fragmented financial technology ecosystem where institutions want both core stability and fintech flexibility.
For investors tracking JKHY's business momentum, this announcement represents exactly the type of full-stack deal that drives recurring revenue growth. The timing is also significant – with Abound citing challenges in serving younger generations with legacy technology, it illustrates the ongoing replacement cycle opportunity as financial institutions modernize aging infrastructure to meet changing consumer expectations.
Credit union prioritizes collaboration to prepare for the future and improve the lives of Kentuckians
Founded 75 years ago as a small institution serving 10 Fort Knox employees, Abound Credit Union has grown to
"Jack Henry understands our vision and what it takes to cater to our members' diverse financial situations," said Ray Springsteen, CEO at Abound Credit Union. "Its open platform seamlessly integrates third-party solutions, enabling members to have the financial services they rely on, while easily adding new capabilities as needs change. This empowers us to focus our resources on serving Kentuckians for the next 75 years and beyond."
Abound will leverage many of Jack Henry's complementary integrated solutions to deliver a more personalized, secure, and convenient experience. For example, Jack Henry Data Hub™ will provide real-time member insights, the Banno Digital Platform™ offers an intuitive digital experience, and the Banno Digital Toolkit™ allows for easy customization and smooth integration with third-party providers. Jack Henry's business banking, payments, lending, and financial crimes solutions also will enhance the credit union's offerings.
"Our technology modernization strategy is designed to empower institutions like Abound to embrace change, drive their own innovation, and deliver value to every member," said Brynn Ammon, President of Credit Union Solutions at Jack Henry. "The credit union is leveraging our foundation to create its own banking experience, one that rewards and brings value to a diverse member base. We're honored to help them build a resilient technology plan that will support their growth and further deepen their impact in
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 nearly 50 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 7,500 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.
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SOURCE Jack Henry & Associates, Inc.