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. (JKHY) delivers core banking technology and digital solutions to financial institutions nationwide. This news hub provides investors and industry professionals with essential updates about the company's strategic developments and market position.
Access timely press releases, earnings reports, and product innovation announcements in one centralized location. Our curated collection simplifies tracking regulatory filings, partnership disclosures, and operational milestones relevant to JKHY's role in financial technology infrastructure.
Key updates include system enhancements for credit unions, risk management tool deployments, and digital banking platform expansions. All content is sourced from official channels to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined monitoring of JKHY's technological advancements and industry contributions. Regular updates provide critical insights for evaluating the company's performance in the competitive fintech sector.
Jack Henry (NASDAQ: JKHY) has partnered with Finicity, a Mastercard company, to enhance open banking capabilities for community financial institutions. This integration into the Banno Digital Toolkit enables over 400 institutions to provide consumers with secure access to their financial data, facilitating better financial decisions. The partnership supports the FDX standard for consumer-permissioned data access, aiming to empower community banks and credit unions as central financial hubs. This collaboration aligns with Jack Henry's commitment to innovation in digital banking solutions.
On May 4, 2021, The Clearing House and Jack Henry joined forces to waive onboarding fees for minority depository institutions (MDIs) connecting to the RTP® network. This initiative aims to enhance access to real-time payments for underserved communities, helping prevent late fees and improve financial health. With over 115 institutions already on the JHA PayCenter, the program allows MDIs to provide 24/7 payment capabilities, thereby supporting local economies. The RTP network reaches approximately 60% of U.S. demand deposit accounts, facilitating immediate payment confirmations and reducing reliance on slower payment methods.
Jack Henry & Associates (NASDAQ: JKHY) announced a partnership with The Clearing House to facilitate real-time payments for minority-owned depository institutions (MDIs). This initiative will cover onboarding fees for MDIs using JHA PayCenter to access the RTP network. MDIs play a crucial role in underserved communities, often facing challenges like predatory lending. The program aims to improve cash flow and financial health for these institutions, enabling immediate payment processing, reducing reliance on slower methods. Jack Henry currently supports over 115 institutions on its payments hub.
Jack Henry & Associates (NASDAQ: JKHY) announced that chairman John F. Prim will retire on June 30, 2021, after 26 years with the company and nearly 12 years as CEO. His leadership has been pivotal in driving the company’s growth. David Foss, the current CEO, acknowledged Prim's contributions and noted that a search for a new board member is already underway. This leadership transition signals a shift but also highlights the strength of the existing management team as they continue to navigate the financial services technology landscape.
Jack Henry & Associates (NASDAQ: JKHY) reported third-quarter fiscal 2021 results with GAAP revenue increasing 1% to $433.8 million, while non-GAAP adjusted revenue rose 6% to $429.4 million. For the first nine months, GAAP revenue grew 2% to $1.3 billion, and GAAP EPS increased slightly to $3.08. Operating income decreased by 1% for the quarter but remained stable year-to-date. The company continues to face headwinds from reduced deconversion fees and decreased hardware revenues due to M&A activity decline. Cash on hand was $70.1 million, down from $109.5 million a year ago.
Jack Henry & Associates (NASDAQ: JKHY) announced that Stride Bank utilized its BusinessManager accounts receivable financing program to provide a $15 million credit facility to a pipeline inspection company. This financing aims to enhance cash flow and support business growth post-pandemic. Stride Bank emphasized the ease and speed of the financing process facilitated by Jack Henry's program, which allows for real-time visibility into borrowers' financial activity. The partnership aims to assist local businesses in their recovery while also creating new revenue sources for financial institutions.
Jack Henry & Associates (NASDAQ: JKHY) announced a virtual Analyst Conference on May 11, 2021, starting at 1:00 p.m. Central. The conference will last approximately 4½ hours, featuring presentations from senior leadership and a live Q&A session. Key agenda items include a financial overview for the fiscal third quarter, insights on operating segments, and updates on significant initiatives. A live broadcast and on-demand replay will be available post-event. For an invitation, contact Vance Sherard.
Jack Henry & Associates (NASDAQ: JKHY) has enhanced its Gladiator Virtual Information Security Officer (vISO) service by introducing a Governance, Risk, and Compliance (GRC) Software as a Service (SaaS) platform. This new service provides financial institutions with automated tools for managing risk assessments, assets, business continuity plans, and vendor management records. The enhancement aims to improve IT security compliance amidst increasing regulatory pressures, offering real-time risk data and unified risk management capabilities.
Jack Henry & Associates (NASDAQ: JKHY) announced it will host a live webcast for its third quarter fiscal year 2021 earnings call on May 4, 2021, starting at 7:45 a.m. Central (8:45 a.m. Eastern). The earnings press release will be issued after the market closes on May 3, 2021. This call can be accessed via the Jack Henry website with information available for dial-in participants. Jack Henry serves around 8,500 clients with services tailored for community banks, credit unions, and financial institutions through its various divisions.
Jack Henry & Associates (NASDAQ: JKHY) reported significant adoption of its digital banking solutions amid increasing demand from regional and community banks. Over 400 institutions have deployed the Banno Digital Platform, engaging 4.3 million users since January 2020. Additionally, 120 banks are digitizing lending via Jack Henry Lending, and over 115 institutions are utilizing the JHA PayCenter. The pandemic spurred a surge in digital service demand, with 87% of consumers planning to maintain increased digital usage, indicating a lasting shift in financial services.
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