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 (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.
Jack Henry & Associates (NASDAQ: JKHY) announced that Univest Bank and Trust Co, with $6.3 billion in assets, has expanded its partnership to utilize the Banno Digital Platform. This suite of digital solutions will enhance customer experience with features like Banno Conversations, which allows real-time support from local representatives. Additional tools, JHA PayCenter and JHA OpenAnywhere, aim to increase customer engagement and streamline account opening. Univest aims to maintain human connection alongside digital transformation, positioning itself for future growth.
Jack Henry & Associates (NASDAQ: JKHY) has confirmed participation in the FedNow pilot program, aimed at enhancing instant payment solutions. This collaboration allows banks and credit unions using JHA PayCenter™ to connect seamlessly with emerging payment networks. Early involvement enables Jack Henry to influence the FedNow Service's development, projected for broader availability in 2023. By partnering with Jack Henry, financial institutions can reduce costs and implementation time compared to independent methods. The FedNow Service is designed to achieve real-time payment processing for financial entities across the U.S.
Jack Henry & Associates (NASDAQ:JKHY) announced that the State Department Federal Credit Union (SDFCU) has migrated its core and IT infrastructure to Jack Henry's private cloud. This strategic move aims to enhance operational flexibility and improve service offerings, especially allowing for remote work capabilities. By outsourcing IT services, SDFCU can now focus on innovation and reduce IT-related operational costs, while benefiting from Jack Henry's security and compliance expertise. This collaboration exemplifies the efficiency and adaptability of Jack Henry's cloud solutions.
Jack Henry & Associates (NASDAQ:JKHY) has introduced agricultural industry spreading models within its digital lending solution, enhancing efficiency for financial institutions processing agricultural loans. This initiative supports community banks and credit unions as they navigate challenges faced by the agricultural sector, which contributes over $1 trillion annually to the U.S. economy. The new models automate lending processes, reducing errors and offering flexibility in analyzing farmer income. With these advancements, Jack Henry aims to bolster the competitiveness of community institutions in a rapidly evolving lending landscape.
Jack Henry & Associates (NASDAQ: JKHY) announced that President & CEO David Foss will present with Simmons Bank's Alex Carriles at Wells Fargo's Bank and Tech Pop Up Virtual Conference on March 4, 2021. They will discuss how regional banks compete with larger institutions through technology. Simmons Bank experienced a 30% increase in digital users in 2020, underscoring the effectiveness of its tech strategy. Simmons is a subsidiary of Simmons First National Corporation (NASDAQ: SFNC) and operates over 200 branches across multiple states.