Border Bank Chooses Jack Henry for Technology Modernization
Rhea-AI Summary
Border Bank has selected Jack Henry (Nasdaq: JKHY) to modernize its technology infrastructure, marking a significant step in the bank's growth strategy as it approaches $1 billion in assets.
Key highlights of the partnership include:
- Implementation of Jack Henry's core processing system to improve operational efficiency
- Access to digital banking solutions through Banno Digital Platform, Banno Business, and JHA Treasury Management
- Integration with over 950 API-connected fintech partners
- Migration to public cloud services
Founded in 1935 to serve agricultural needs along Minnesota's Canadian border, Border Bank has expanded to serve various industries in North Dakota and metro Minneapolis, including manufacturing, hospitality, and commercial real estate. The bank's COO, Tammy Stanton, cited Jack Henry's commitment to innovation, transparency, and customer service as key factors in their decision.
This technology upgrade positions Border Bank to enhance customer experience, streamline operations, and support long-term growth while maintaining its community-focused banking approach.
Positive
- Bank approaching $1B in assets milestone, showing significant growth
- Technology upgrade to improve operational efficiency through modern core processing
- Access to 950+ API-integrated fintech solutions enabling business differentiation
- Implementation of new digital platforms (Banno Digital, Business, Treasury Management) to enhance customer experience
- Strategic move to public cloud infrastructure improving long-term technological capabilities
Negative
- Current infrastructure relies on dated processes requiring complete overhaul
- Need to manage increasing demands with existing resources indicates potential staffing constraints
- Significant technology investment and transition costs likely to impact short-term financials
News Market Reaction
On the day this news was published, JKHY gained 2.25%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
New core and digital products will allow bank to focus on innovation, efficiency, and long-term growth
Border Bank was founded in 1935 to meet agricultural needs along
Jack Henry's core processing system will replace dated processes, improving operational efficiency and streamlining workflows. Retail, business, and enterprise commercial clients will have access to a digital front door to manage their financial needs through Banno Digital Platform™, Banno Business™, and JHA Treasury Management™.
"Jack Henry won our business because of their commitment to innovation, transparency, and customer service," said Tammy Stanton, Chief Operating Officer at Border Bank. "Their clear vision for the future, openness, and strong reputation for delivering on commitments gave us confidence that they were the right long-term fit for us. Their modern technology and plug-and-play philosophy will help us better meet the needs of our growing customer base and differentiate ourselves from competitors."
With access to over 950 API-integrated, third-party fintechs through Jack Henry's open ecosystem, Border Bank can easily differentiate according to their unique business strategy. Moreover, Jack Henry's technology modernization strategy will provide a steady stream of modern service components in the public cloud, maintaining a strategic edge going forward.
Jonathan Baltzell, President of Bank Solutions at Jack Henry, said, "Border Bank is a great example of a community bank that has been integral to the development in its region, providing businesses and families with the reliable financial support they need. At Jack Henry, we are proud to equip them with modern technology to enhance their services while also laying the foundation for a long-term technology strategy to serve their communities for many generations to come."
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 48 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.
FAQ
What new technology is Border Bank getting from Jack Henry (JKHY) in 2025?
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