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January 18, 2023

On the web

5 Companies at the Forefront of Real-time Payments in the US

IBS Intelligence

Real-time Payments (RTPs) are payments that settle and clear quickly with the use of an underlying platform or network called a ‘payment rail.’ RTPs are made between bank accounts. RTP solutions are built on the connection between payee and payer and can be used by merchants of any size, consumers, and financial institutions to carry out payments to settle bills or transfer money with peers or customers. Here are 5 companies at the forefront of Real-time Payments in the US...

November 28, 2022

On the web

Real-Time Payments In U.S. Marks Fifth Year — FedNow Coming In July

“To mark the fifth anniversary of real-time payments in the U.S. The Clearing House (TCH) and Jack Henry launched a flurry of statistics which cast a bit of an obscuring haze over the topic.   TCH says its RTP network reaches 62% of all demand deposit accounts in the U.S. and 85% of insured depository institutions have technical access to the network through more than 20 technology solutions providers, including Jack Henry & Associates, FIS, Fiserv, COCC, Finastra and Shazam. The Clearing House is eager to show that it provides services for small banks and credit unions and isn’t just a network for the major banks.”

October 25, 2022

On the web

Jack Henry™ Launches Standalone, Real-Time Person-to-Person (P2P) Payments

prnewswire

“Jack Henry™ announced today the launch of its standalone person-to-person (P2P) payments solution. Powered by the Payrailz® Digital Payments Platform, which Jack Henry acquired September 1, 2022, the P2P solution is now available for standalone implementation or as a strategic component of the full Payrailz payments platform.   Operating as the industry’s only financial institution-centric, open-loop, real-time P2P payments solution, Jack Henry’s offering provides a flexible, convenient way to send money to virtually anyone. Unlike closed-loop solutions, open-loop solutions do not require senders and receivers to belong to the same payment network. One-time and recurring payments can be made using the recipient’s mobile number or email address with flexible delivery options, split-pay functionality, good funds settlement, and the ability to credit funds to checking and savings accounts, debit cards, and Venmo accounts, with other options in development. Fraud mitigation is optimized with a multi-layered approach that includes one-time passwords (OTP) and the in-development Fraud Monitor, which will score 100% of P2P payments in real-time. This API-enabled solution can be seamlessly integrated into existing digital banking platforms.”

September 1, 2022

On the web

Jack Henry Teams Up with Google Cloud to Accelerate its Multi-year Modernization Strategy

PR Newswire

“Jack Henry™ , a leading provider of technology solutions for the financial services industry, announced today a collaboration with Google Cloud to further enable its multi-year next-generation technology strategy focused on helping community and regional financial institutions innovate faster and meet the evolving needs of their accountholders. Through its collaboration with Google Cloud, Jack Henry will build cloud-first technologies that modernize existing data, reporting, and integration systems while creating a new set of services that form a modern digital core for banks and credit unions. Google Cloud offers a number of technological benefits, including industry-leading scalability and operational uptime, leading security and compliance solutions, best-in-class data and artificial intelligence (AI) platforms, and the flexibility to integrate services with other cloud providers. Building capabilities on the public cloud is a strategy that complements Jack Henry’s existing core systems.”

August 25, 2022

On the web

Jack Henry Announces Plan for New Financial Crimes Platform

Jack Henry & Associates, Inc.

“Jack Henry™ (Nasdaq:JKHY) announced today the development of Jack Henry Financial Crimes Defender™, the company’s next-generation financial crimes platform. The comprehensive platform, planned to launch in early 2023, will deliver community and regional financial institutions the enhanced capabilities they need, including AI/ML, to gain visibility into fraud across all channels to better protect their institutions and accountholders’ financial health.”

August 9, 2022

On the web

Jack Henry & Associates to Acquire Payrailz

PR Newswire

“Jack Henry & Associates, Inc.® announced today that it has entered into a definitive agreement to acquire Payrailz, adding the company’s next-generation digital payment capabilities, including real-time person-to-person (P2P) payments, to Jack Henry’s payments ecosystem.   Based in Glastonbury, Conn., Payrailz provides cloud-native, API-first, AI-enabled consumer and commercial digital payment solutions and experiences that enable money to be moved in the moment of need, and banks and credit unions to successfully compete with industry disruptors…This acquisition enhances Jack Henry’s payments-as-a-service (PaaS) strategy, which is a natural extension of its commitment to open banking and the ability to enable embedded finance and embedded fintech.”

June 23, 2022

On the web

Jack Henry Enables Faster Payments for More than 250 Financial Institutions

Jack Henry & Associates, Inc.

“Jack Henry & Associates, Inc.® is supporting the faster payments strategies of hundreds of regional and community financial institutions with JHA PayCenter™, its proprietary payments hub that provides seamless connections to The Clearing House’s RTP® network and the Zelle Network®, provided by Early Warning Services, LLC. More than 250 financial institutions are leveraging one or both networks today.”

May 10, 2022

On the wires

Jack Henry and NYDIG to Offer Bitcoin Services to Financial Institutions

“Jack Henry & Associates, Inc.® announced today that it’s working with NYDIG, a leader in bitcoin technology and financial services solutions, to enable financial institutions to make bitcoin more accessible to accountholders. Many consumers and businesses are looking to their financial institutions to provide bitcoin services, which this relationship will solve. Consumer and business accounts will be able to access NYDIG’s buy-hold-sell capabilities through the Banno Digital Platform™, with JHA PayCenter™ facilitating payments to and from NYDIG over the RTP® network. Jack Henry’s digital banking platform currently supports regional and community financial institutions in the U.S., offering leading capabilities and access to popular third-party apps to more than 7.1 million consumers.”