Jack Henry & Associates ( JKHY Quick Quote JKHY - Free Report) is constantly gaining momentum among community banks and many other financial institutions on the back of Jack Henry Banking. This is evident from the recent extension of the company’s partnership with Univest Bank and Trust Co. Univest strives to leverage Jack Henry Banking’s full solutions portfolio on the back of the expanded relationship. On the heels of the latest deal, Univest is utilizing JHA PayCenter for providing person-to-person payments by getting connected to the real-time payment networks. Also, JHA OpenAnywhere is being used by Univest for bolstering its new consumer account base. Along with these, Univest is using Jack Henry’s Banno Digital Platform for integrating modern technology with personal service. We believe that the extended partnership is expected to contribute well to Jack Henry’s Core segment’s performance in the near term. Winning Clientele
The latest extended partnership of Jack Henry will add strength to its strengthening client base.
Apart from the underlined deal, State Department Federal Credit Union has recently migrated its Episys core and entire IT infrastructure to Jack Henry's private cloud environment. Additionally, BankPlus picked Jack Henry Banking’s SilverLake System for achieving greater efficiency. Also, First State Bank of the Southeast extended its relationship with Jack Henry and selected the latter’s digital commercial loan solution for automating the commercial lending process. Bottom Line
We believe that the expanding clientele will continue to drive Jack Henry’s top-line growth, which, in turn, will instill investor optimism in the stock.
The company’s solid momentum across Core, Payments, Complementary and Corporate segments will likely continue to aid it in attracting customers to its platform. Moreover, robust technology solutions and expanding customer relationships will strengthen its market position. Additionally, the growing adoption of core solutions, debit and credit processing solutions, card processing solutions, Banno Digital Platform and JHA BankAnywhere highlights the strong reliability of Jack Henry’s solutions portfolio. Zacks Rank & Stocks to Consider
Jack Henry currently carries a Zacks Rank #3 (Hold).
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