Rego Payment Architectures, Inc. Collaborates with Jack Henry to Offer White-Labeled Youth Banking to Financial Institutions
Rhea-AI Summary
Rego Payment Architectures (OTCQB: RPMT) has announced its integration with the Jack Henry digital banking platform, making its white-label youth banking solution accessible to approximately 7,500 financial institutions. The integration leverages the Banno Digital Toolkit to embed REGO's technology into digital banking experiences.
The collaboration aims to provide financial institutions with a secure platform for children aged 5-17 to earn, spend, save, donate, and invest under parental supervision. REGO's platform is certified for child data privacy compliance at both state and federal levels, including COPPA and GDPR certifications.
Positive
- Integration with Jack Henry platform expands reach to 7,500 financial institutions
- Platform is COPPA and GDPR certified for child data privacy compliance
- Multiple patents awarded for parent and child data safety features
Negative
- None.
News Market Reaction
On the day this news was published, RPMT gained 9.93%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Community and regional financial institutions can now offer the ability for kids to earn, spend, save, donate and invest with full parental control and oversight.
BLUE BELL, Pa., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Rego Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT) announced today that its leading white-label youth banking solution is now accessible through the Jack Henry™ digital banking platform.
REGO leveraged the Banno Digital Toolkit™, the same set of APIs the Banno Digital Platform™ is built on, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry’s API, design, and authenticated frameworks has enabled REGO to directly integrate into the digital banking platform providing a seamless banking experience. This integration contributes to Jack Henry’s growing ecosystem of over 1,000 fintechs, providing approximately 7,500 financial institutions with relevant financial products and services for their accountholders.
As Generations Z and Alpha (youth aged five to 17) continue to grow rapidly and engage with finances earlier than ever, parents are seeking reliable tools to build their children’s financial literacy. For banks and credit unions, providing these resources presents a powerful way to attract deposits and build lasting customer loyalty. Through REGO, financial institutions can now deliver a secure, future-focused youth banking solution that supports the next generation's financial growth.
"We’re excited to collaborate with Jack Henry, a company equally committed to providing financial institutions with cutting-edge technology," said Peter S. Pelullo, CEO of REGO. "Our platform, rigorously certified to meet the highest standards of child data privacy at both state and federal levels, ensures peace of mind for financial institutions and families as they nurture the next generation of financially informed youth."
REGO Media Contact
Pawan Murthy
Chief Marketing Officer
pawan@regopayments.com
About Jack Henry
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 more than 48 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 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at http://www.jackhenry.com
About REGO
Rego Payment Architectures, Inc. ("REGO") is a family digital wallet platform that empowers financial institutions to let their customers’ children spend, save, donate and invest in a safe, parent-controlled environment. Founded in 2008, REGO is the only family digital wallet platform to be certified COPPA (Children's Online Privacy Protection Act) and third-party GDPR (General Data Privacy Regulation) compliant. REGO has also been awarded multiple patents related to the safety of parent and child data, including age verification of users. Built from the ground-up to protect the privacy of children's data, REGO offers financial literacy tools for parents to teach their kids to be smarter shoppers, savers, givers and investors. Financial institutions of all sizes can offer a family digital wallet product through REGO as a white-labeled stand-alone application or fully integrated into their existing app.
Safe Harbor Statement:
The information in this press release may contain forward-looking statements on REGO’s current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about REGO that may cause the actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from REGO’s expectations include, but are not limited to: REGO’s ability to raise additional capital, the absence of any material operating history or revenue, REGO’s ability to attract and retain qualified personnel, the ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of REGO’s services and products, REGO’s limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by REGO in Item 1.A “Risk Factors” in REGO’s most recent Form 10-K; other risks to which REGO is subject; other factors beyond REGO’s control.
All subsequent written and oral forward-looking statements attributable to REGO, or persons acting on REGO’s behalf, are expressly qualified in their entirety by the foregoing. REGO has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.
FAQ
What is the partnership between Rego Payment Architectures (RPMT) and Jack Henry?
What certifications does Rego Payment Architectures (RPMT) have for child data privacy?
What features does Rego Payment Architectures (RPMT) youth banking platform offer?
