CFG Bank Turns to Jack Henry to Modernize Technology and Scale Niche Services
Rhea-AI Summary
Jack Henry (Nasdaq: JKHY) was selected by CFG Bank to modernize core and digital technology as CFG expands past $5 billion in assets. CFG implemented Jack Henry's core processing platform, the Banno Digital Platform for retail channels, and Enterprise Workflow to replace manual processes. Jack Henry's public-cloud service components and an open ecosystem with access to more than 950 API-integrated fintech partners are intended to help CFG scale its healthcare bridge-to-HUD lending niche and support continued growth after expanding from $1 billion in assets at end-2019 to more than $5 billion today.
Positive
- Assets grew from $1B (end-2019) to >$5B today
- Implemented Jack Henry core processing platform
- Deployed Banno Digital Platform to enhance retail experience
- Access to 950+ API-integrated fintech partners to scale services
- Adopting Enterprise Workflow to replace manual processes
Negative
- None.
News Market Reaction
On the day this news was published, JKHY gained 2.69%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
JKHY was up 2.64% while peers were mixed: AUR +3.13%, CDW +0.85%, IT +0.78%, but CACI -2.09% and GIB -0.08%, indicating a more stock-specific move around this client announcement.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 09 | Workplace recognition | Positive | -0.5% | Named to 2026 Computerworld Best Places to Work in IT list. |
| Dec 04 | Client technology win | Positive | +2.7% | CFG Bank selected Jack Henry for core and digital modernization. |
| Dec 02 | Corporate ranking | Positive | -0.9% | Included in Forbes’ 2026 Best Companies in America ranking. |
| Dec 01 | Industry study release | Positive | -0.2% | Published 2025 Financial Sentiment Study highlighting consumer behaviors. |
| Nov 25 | Conference presentations | Positive | +0.2% | Announced CEO and CFO presentations at UBS and Nasdaq conferences. |
Recent company-specific positive news (client wins, awards, studies) often produced modest moves, with more divergences where shares slipped despite favorable headlines.
Over the last few weeks, Jack Henry issued a series of positive corporate updates. A major client win with CFG Bank on Dec 4, 2025 coincided with a +2.69% move, while reputation and workplace accolades on Dec 2 and Dec 9 saw small declines. A consumer financial sentiment study on Dec 1 and conference presentation notices on Nov 25 produced minimal price changes. The CFG Bank technology modernization deal fits this pattern of steady, operationally focused news flow.
Market Pulse Summary
This announcement details a significant technology modernization win with CFG Bank, which expanded from $1 billion to more than $5 billion in assets and adopted Jack Henry’s core, digital, and workflow solutions. It reinforces Jack Henry’s strategy around open ecosystems and 950+ API-integrated fintech partners. In context with recent awards and industry studies, investors may watch for additional client wins, product adoption metrics, and any changes in deal momentum over time.
Key Terms
core processing platform technical
enterprise workflow technical
public cloud technical
api-integrated fintech partners technical
AI-generated analysis. Not financial advice.
Founded in 2009, CFG Bank primarily serves commercial clients of all sizes, while also offering banking services to retail customers in-branch and through digital channels. The bank is unique in its private ownership model and an entrepreneurial approach grounded in a commitment to relationship banking. CFG is among the largest and most experienced healthcare bridge-to-HUD lenders in the country, a unique niche with a strong marketplace need. Combining healthcare lending expertise with a commitment to tailored financing solutions, and nimble decision-making, has led CFG to rapid growth, expanding from
To sustain this momentum, CFG implemented Jack Henry's core processing platform, a modern and flexible platform that is streamlining operations and giving the bank greater control over its data. Consumer-facing products like the Banno Digital Platform™ are enhancing the retail experience, which is important given the bank's small branch network. The bank will deploy Jack Henry's Enterprise Workflow solution to replace manual processes and boost efficiency. Jack Henry's open ecosystem and access to more than 950 API-integrated fintech partners will allow CFG to scale its niche services, introducing the right solutions to meet client needs.
"Our business has grown quickly, and we needed a modern technology foundation that would give us greater efficiency and better control over our data," said Deborah Kakaris, Executive Vice President, Chief Risk & Information Officer at CFG Bank.
"We don't think or operate like a traditional bank. Our approach is innovative and entrepreneurial, and we look for those same qualities in the companies with whom we work. We recognized that same mindset in Jack Henry, along with flexibility and responsiveness that stood out. Just as important, their relationship-focused culture mirrors our own, making them the right fit for CFG," added Erik Howard, President of CFG Bank.
Jack Henry will deliver a steady stream of modern service components in the public cloud, allowing CFG to adopt new capabilities as it continues to grow. Kakaris added, "Jack Henry's strategy reflects where core technology is heading. We explored implementing public cloud systems ourselves before deciding that it was not the right direction for us currently. Knowing their active and robust roadmap is focused around this constantly evolving approach was a key factor in our decision. With Jack Henry, we know our technology will grow with us as we expand in size and sophistication; there is still so much more to explore."
"CFG Bank has grown rapidly by combining an entrepreneurial mindset, a niche focus and a strong commitment to relationship banking," said Jonathan Baltzell, President of Bank Solutions at Jack Henry. "They needed a technology infrastructure that could match that pace of growth and innovation while preserving the culture that makes them unique. We're here to support their vision with modern and open solutions that streamline operations, meet client expectations, and a forward-looking roadmap that will keep them growing on their own terms."
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 7,400 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at jackhenry.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/cfg-bank-turns-to-jack-henry-to-modernize-technology-and-scale-niche-services-302631545.html
SOURCE Jack Henry & Associates, Inc.
FAQ
What did CFG Bank announce on December 4, 2025 regarding technology?
How large is CFG Bank after its recent growth and what is the timeline?
What digital platform will CFG Bank use to improve retail banking for JKHY shareholders?
How will Jack Henry help CFG Bank scale its niche healthcare lending services?
Will CFG Bank automate manual processes as part of the JKHY deal?
