Jack Henry & Associates Stock Price, News & Analysis

Jack Henry & Associates (NASDAQ: JKHY) announces that Craft Bank, the first de novo in the Atlanta perimeter in over a decade, has partnered with them to enhance business banking. Craft Bank aims to combine digital experiences with personal service, featuring faster payments and lending through the Banno Digital Platform. Launching on October 15, Craft Bank noted a significant reliance on Jack Henry's expertise, as 42% of recent de novos are Jack Henry clients. The collaboration focuses on evolving technology, emphasizing security, efficiency, and customer-centric services.

On January 20, 2021, Jack Henry & Associates (NASDAQ: JKHY) announced an increase in the adoption of its EMV contactless cards by financial institutions in response to the COVID-19 pandemic. These cards offer a secure, efficient, and touch-free transaction option, appealing to consumer demand. Notable clients like Commonwealth Bank & Trust Co. and Goldenwest Federal Credit Union have transitioned to Jack Henry for their card programs. A.T. Kearney estimates that 56% of all cards will be contactless by the end of 2022, highlighting a significant market shift towards this technology.

Jack Henry & Associates (NASDAQ: JKHY) has enhanced its AlertCenter solution, now integrating seamlessly with SilverLake Teller Capture, to strengthen check fraud protection amid rising payment scams. The company reported a 35% increase in deposit hold recommendations and an 11% rise in transaction denies due to fraud during 2020. The integration allows banks to detect fraud effectively while improving customer service with quicker transaction times. Citizens National Bank experienced operational efficiency improvements post-integration, which minimized fraud losses and enhanced customer satisfaction.

Jack Henry & Associates (NASDAQ: JKHY) has enhanced its Paycheck Protection Program (PPP) loan solution with a borrower-friendly digital interface to facilitate loan applications and documentation. This new feature is strategically timed with an additional $284 billion in PPP funding aimed at supporting small businesses affected by the pandemic. The upgraded solution streamlines data processing, offering built-in fraud controls. In the previous year, Jack Henry assisted over 400 banks, facilitating 70,000 loan applications totaling $6.5 billion.

Jack Henry & Associates (NASDAQ: JKHY) has announced that 150 banks and credit unions have transitioned their IT infrastructure to its Gladiator Hosted Network Solutions (HNS) within its private cloud. This shift allows financial institutions to focus on strategic initiatives while enhancing cybersecurity, compliance, and disaster recovery. FirstBank's CIO highlighted the benefits during the pandemic, facilitating operations during remote work. Innovations Credit Union also chose HNS for improved business continuity after Hurricane Michael. Jack Henry continues to support financial institutions in adopting cloud banking for operational efficiency.

Jack Henry & Associates (NASDAQ: JKHY) announced that Texans Credit Union has selected its Episys core in a private cloud environment to enhance member services and operational efficiency. The credit union aims to reduce the number of staff needed for core maintenance from 7-12, allowing them to focus on improving workflows and customization. Texans looks forward to leveraging Jack Henry's technology for better member experiences and data-driven decisions. This partnership highlights the growing importance of technology in enhancing member service capabilities in the financial services sector.

Jack Henry & Associates (NASDAQ: JKHY) announced that 800 financial institutions have migrated to its advanced JHA Card Processing Solutions™ platform. In addition, 137 new debit and credit clients have transitioned to this service. The CPS platform offers a comprehensive solution for processing needs, enhancing fraud mitigation, and providing modern tools for banks and credit unions. FirstBank praised its partnership with Jack Henry for reducing fraud losses by over 50% year-over-year. Jack Henry continues to innovate, ensuring clients can adapt to evolving payment expectations in the financial services industry.

Jack Henry & Associates (NASDAQ: JKHY) announced that Georgia United Credit Union has transitioned its Episys core platform to Jack Henry's private cloud environment. This $1.6 billion-asset credit union aims to enhance oversight, efficiency, and stability through this move. Over 60% of Jack Henry's core credit union customers have adopted the private cloud due to its security and data resiliency, allowing credit unions to focus on IT differentiation. The migration supports rapid technological advancement and positions Georgia United for continued growth.

Jack Henry & Associates declared a regular quarterly cash dividend of $.43 per share. This dividend will be payable on December 22, 2020, to stockholders of record by December 2, 2020. As of November 12, 2020, there were 76,317,581 shares outstanding. The company, known for its technology solutions in the financial services sector, serves approximately 8,700 clients across three divisions, supporting various financial institutions with innovative digital solutions.