Welcome to our dedicated page for Jack Henry & Associates news (Ticker: JKHY), a resource for investors and traders seeking the latest updates and insights on Jack Henry & Associates stock.
Jack Henry & Associates, Inc. reports developments for a financial technology company serving banks and credit unions with core processing, digital banking, payments, lending, fraud and anti-money-laundering, and data-integration capabilities. Company updates often cover client selections for outsourced core systems, the Banno Digital Platform, SilverLake, CIF 20/20, Core Director, Symitar, and third-party connections through the Jack Henry Fintech Integration Network.
Recurring news also includes quarterly earnings, deconversion revenue disclosures tied to client contract terminations after bank acquisitions, capital returns through dividends and share repurchases, credit-union and community-bank deployments, product recognition for Tap2Local, and executive participation in investor conferences.
Jack Henry & Associates (JKHY) reported robust financial results for the fiscal year and fourth quarter ended June 30, 2022. GAAP revenue grew by 11% year-over-year, reaching $1.94 billion, with GAAP EPS increasing to $4.94. Operating income rose 19% to $474.6 million. The company expects fiscal 2023 GAAP revenue between $2.08 billion and $2.09 billion, with EPS projected at $5.05 to $5.09. Additionally, the company secured 17 new core clients, indicating strong demand for its technology solutions.
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Jack Henry announced its acquisition of Payrailz, a cloud-native digital payment platform, enhancing its payments capabilities. The acquisition is expected to close on August 31, 2022, and aims to integrate advanced payment solutions, including real-time P2P transactions, into Jack Henry's ecosystem. This strategic move supports Jack Henry’s modernization efforts for banks and credit unions, utilizing AI-driven technology to improve financial health and streamline payment processes, thereby positioning the company against industry disruptors.
Jack Henry & Associates (Nasdaq: JKHY) appointed Mimi Carsley as Chief Financial Officer and Treasurer, effective September 1, 2022. Carsley brings over 30 years of experience in financial technology and corporate finance, having previously worked as Interim CFO at Blucora and held key positions at LPL Financial and Microsoft. She succeeds Kevin Williams, who is retiring after nearly 25 years with the company. Board Chair and CEO David Foss expressed confidence in Carsley's leadership and expertise to advance the company's customer-focused strategies.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) will host a live Webcast for its fourth quarter and fiscal year 2022 earnings call on August 17, 2022. The earnings report will be released after market close on August 16, 2022. The call starts at 7:45 a.m. Central and can be accessed via the company's website. Dial-in numbers are provided for U.S. and international participants. An archived replay will also be available approximately one hour after the live event.
Jack Henry has launched a unified brand, consolidating its three distinct brands into the singular Jack Henry brand. This initiative aims to enhance client experiences by streamlining operations and modernizing technology for community financial institutions. The company emphasizes reducing barriers to financial health, with a mission statement targeting the 66% of Americans deemed financially unhealthy. Additionally, Jack Henry's next-generation strategy focuses on a cloud-native open-banking platform and has integrated over 850 fintechs to provide comprehensive solutions.
Jack Henry & Associates (NASDAQ: JKHY) announced collaboration with Victor Technologies and MVB Bank to enhance its instant payments strategy. MVB Bank is the first to implement RTP Send capabilities via The Clearing House's RTP® network, allowing real-time payments. Victor, a subsidiary of MVB Edge Ventures, is instrumental in managing fintech partnerships. The addition of RTP functionality aims to meet consumer and business payment needs while providing competitive advantages in sectors like gaming and crypto. This partnership underlines Jack Henry's commitment to innovative financial solutions.
Jack Henry (NASDAQ: JKHY) announced that over 200 banks and credit unions are utilizing its new Forecasting and Financial Reporting tool. This solution helps automate financial forecasting and reporting, allowing institutions to create efficient models in a fluctuating economic landscape. The tool enables users to analyze standardized data, generate budgets, and conduct 'what-if' scenarios effortlessly. Executives emphasize its importance for strategic operational planning and enhancing financial health.
Jack Henry & Associates announced that LINKBANCORP selected them to enhance banking services in Central and Southeastern Pennsylvania. Founded in 2018, LINKBANCORP has achieved over $1 billion in assets following a merger. The partnership will utilize Jack Henry's digital banking solutions, including the Banno Digital Platform and LoanVantage. LINKBANCORP aims to improve operational efficiency and customer service through technology, leveraging industry partnerships to remain competitive. This collaboration emphasizes relationship-based banking for both commercial and retail clients.
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