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Jack Henry (JKHY) Boosts Clientele With Recent Collaboration
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Jack Henry & Associates (JKHY - Free Report) has extended its partnership with Old Second National Bank to aid the latter in the execution of growth and digital strategies.
Old Second National Bank leverages Jack Henry’s Banno Digital Platform for digital capabilities. Using the company’s API infrastructure, the bank also avails stronger connections with third-party solutions.
In addition, the bank uses Jack Henry banking services and the jhaEnterprise Workflow for improving operational efficiencies.
Jack Henry has already been helping the bank in improving its technology infrastructure. It is to be noted that the bank shifted its Jack Henry core to the private cloud for including commercial banking features.
The recent expansion in their partnership highlights the strength of Jack Henry’s solutions.
Further, the partnership strengthened Jack Henry’s customer base. This is expected to contribute to the company’s top-line growth in the days ahead.
Apart from the recent collaboration, Jack Henry’s lending platform has been selected by the Bank of Charles Town to automate the commercial lending process.
Peapack-Gladstone Bank also leveraged Jack Henry Lending’s digital Paycheck Protection Program solution to automate the process of offering new services that are helping businesses recover from the pandemic.
Additionally, Jack Henry and CU Business Group signed a referral partnership to make the availability of payments, digital lending as well as financial performance solutions from Jack Henry to the latter’s network of more than 600 credit unions.
Further, the company has more than 300 banks and credit union partners, which remains a positive. These banks and credit unions leverage its Gladiator Centurion Enterprise-Level Recovery solution for securing the backup and recovery of critical systems in the cloud.
Thus, increasing adoption of Jack Henry’s solutions is expected to continue benefiting its financial performance in the near term, which in turn will help the company win investor confidence.
JKHY has gained 21.8% versus the Computer and Technology sector’s decline of 10.4% in the past year.
Portfolio Strength
Jack Henry’s growing momentum among customers is attributed to its efficient and reliable portfolio of solutions.
Recently, the company introduced SecurePort for banks to help customers gain access to account balances and funds as well as protect them in times of crisis.
In addition, JKHY added a new suite of tools and analytics from Stackfolio to bolster lending capabilities.
Also, Jack Henry Lending launched a powerful digital solution named FactorSoft Web Portal that provides near-real-time servicing to lenders anytime and anywhere.
Further, the availability of Jack Henry Consumer Loans for creating and managing loans as well as supporting borrower relationships remains noteworthy.
Zacks Rank & Other Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #2 (Buy).
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Jack Henry (JKHY) Boosts Clientele With Recent Collaboration
Jack Henry & Associates (JKHY - Free Report) has extended its partnership with Old Second National Bank to aid the latter in the execution of growth and digital strategies.
Old Second National Bank leverages Jack Henry’s Banno Digital Platform for digital capabilities. Using the company’s API infrastructure, the bank also avails stronger connections with third-party solutions.
In addition, the bank uses Jack Henry banking services and the jhaEnterprise Workflow for improving operational efficiencies.
Jack Henry has already been helping the bank in improving its technology infrastructure. It is to be noted that the bank shifted its Jack Henry core to the private cloud for including commercial banking features.
The recent expansion in their partnership highlights the strength of Jack Henry’s solutions.
Further, the partnership strengthened Jack Henry’s customer base. This is expected to contribute to the company’s top-line growth in the days ahead.
Jack Henry & Associates, Inc. Price and Consensus
Jack Henry & Associates, Inc. price-consensus-chart | Jack Henry & Associates, Inc. Quote
Growing Customer Base
Apart from the recent collaboration, Jack Henry’s lending platform has been selected by the Bank of Charles Town to automate the commercial lending process.
Peapack-Gladstone Bank also leveraged Jack Henry Lending’s digital Paycheck Protection Program solution to automate the process of offering new services that are helping businesses recover from the pandemic.
Additionally, Jack Henry and CU Business Group signed a referral partnership to make the availability of payments, digital lending as well as financial performance solutions from Jack Henry to the latter’s network of more than 600 credit unions.
Further, the company has more than 300 banks and credit union partners, which remains a positive. These banks and credit unions leverage its Gladiator Centurion Enterprise-Level Recovery solution for securing the backup and recovery of critical systems in the cloud.
Thus, increasing adoption of Jack Henry’s solutions is expected to continue benefiting its financial performance in the near term, which in turn will help the company win investor confidence.
JKHY has gained 21.8% versus the Computer and Technology sector’s decline of 10.4% in the past year.
Portfolio Strength
Jack Henry’s growing momentum among customers is attributed to its efficient and reliable portfolio of solutions.
Recently, the company introduced SecurePort for banks to help customers gain access to account balances and funds as well as protect them in times of crisis.
In addition, JKHY added a new suite of tools and analytics from Stackfolio to bolster lending capabilities.
Also, Jack Henry Lending launched a powerful digital solution named FactorSoft Web Portal that provides near-real-time servicing to lenders anytime and anywhere.
Further, the availability of Jack Henry Consumer Loans for creating and managing loans as well as supporting borrower relationships remains noteworthy.
Zacks Rank & Other Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the broader technology sector include Apple (AAPL - Free Report) , Analog Devices (ADI - Free Report) and Broadcom (AVGO - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple has gained 25.4% in the past year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.
Analog Devices has gained 2.5% in the past year. The long-term earnings growth rate for ADI is projected at 12.3%.
Broadcom has gained 29.9% in the past year. The long-term earnings growth rate for AVGO is currently projected at 14.5%.