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Jack Henry (JKHY) Unveils Fraud Monitor, Expands Portfolio
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Jack Henry (JKHY - Free Report) has added a AI-based feature to its Payrailz digital payments platform called Payrailz Fraud Monitor.
Notably, the new feature, powered by AI and Machine Learning algorithms, offers real-time fraud detection across multiple payment types like person-to-person payments, consumer and business bill payments, and account-to-account outbound external transfers.
Further, Payrailz Fraud Monitor is capable of detecting account takeover by a fraudster on the back of behavioral analytics.
Moreover, it is designed to capture the incident when a fraudster tries to transfer funds out of an account using the original user’s credentials.
We note that Jack Henry is expected to gain solid momentum among various financial institutions and credit unions with Fraud Monitor, which holds the ability to reduce the number of suspicious transactions and stop fraudulent transactions automatically.
The latest move bodes well for the company’s deepening focus on payments fraud reduction. In this regard, JKHY is set to make its cloud-based cross-channel fraud detection platform, Jack Henry Financial Crimes Defender, available this summer.
Moreover, the introduction of Payrailz Fraud Monitor is in sync with the company’s growing efforts toward expanding its overall portfolio.
The recent introduction of a policy management solution that combines workflows, documentation and storage on a single platform to streamline policy creation, review, approvals, attestations and exceptions, is a positive.
Furthermore, Jack Henry’s acquisition of Payrailz to expand payment capabilities for assisting financial institutions in effortlessly catering to the needs of consumer and commercial account holders is noteworthy.
Growing Clientele
The expansion of product offerings is expected to continue driving Jack Henry’s customer base in the days ahead.
Recently, Saco & Biddeford Savings Institution picked Jack Henry as its technology partner to modernize its infrastructure and enhance small business banking capabilities.
Further, Platinum Federal Credit Union teamed up with Jack Henry to enhance its members' financial health by leveraging the latter’s Symitar platform and comprehensive suite of solutions.
Also, Jack Henry’s modern core infrastructure was selected by First Community Bank, Sunrise Bank and Today's Bank to provide better service to retail and business customers.
We note that an expanding customer base is likely to contribute to Jack Henry’s top-line growth in the near term. This will aid the company in winning investors’ confidence in the near term.
The Zacks Consensus Estimate for JKHY’s fiscal 2023 revenues is pegged at $2.05 billion, which suggests a 5.7% rise from the reported figure in fiscal 2022.
Coming to the price performance, shares of Jack Henry have lost 5.8% in the year-to-date period compared with the industry's decline of 19.8%.
Zacks Rank & Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #3 (Hold).
Image: Bigstock
Jack Henry (JKHY) Unveils Fraud Monitor, Expands Portfolio
Jack Henry (JKHY - Free Report) has added a AI-based feature to its Payrailz digital payments platform called Payrailz Fraud Monitor.
Notably, the new feature, powered by AI and Machine Learning algorithms, offers real-time fraud detection across multiple payment types like person-to-person payments, consumer and business bill payments, and account-to-account outbound external transfers.
Further, Payrailz Fraud Monitor is capable of detecting account takeover by a fraudster on the back of behavioral analytics.
Moreover, it is designed to capture the incident when a fraudster tries to transfer funds out of an account using the original user’s credentials.
We note that Jack Henry is expected to gain solid momentum among various financial institutions and credit unions with Fraud Monitor, which holds the ability to reduce the number of suspicious transactions and stop fraudulent transactions automatically.
Jack Henry & Associates, Inc. Price and Consensus
Jack Henry & Associates, Inc. price-consensus-chart | Jack Henry & Associates, Inc. Quote
Product Portfolio Expansion
The latest move bodes well for the company’s deepening focus on payments fraud reduction. In this regard, JKHY is set to make its cloud-based cross-channel fraud detection platform, Jack Henry Financial Crimes Defender, available this summer.
Moreover, the introduction of Payrailz Fraud Monitor is in sync with the company’s growing efforts toward expanding its overall portfolio.
The recent introduction of a policy management solution that combines workflows, documentation and storage on a single platform to streamline policy creation, review, approvals, attestations and exceptions, is a positive.
Furthermore, Jack Henry’s acquisition of Payrailz to expand payment capabilities for assisting financial institutions in effortlessly catering to the needs of consumer and commercial account holders is noteworthy.
Growing Clientele
The expansion of product offerings is expected to continue driving Jack Henry’s customer base in the days ahead.
Recently, Saco & Biddeford Savings Institution picked Jack Henry as its technology partner to modernize its infrastructure and enhance small business banking capabilities.
Further, Platinum Federal Credit Union teamed up with Jack Henry to enhance its members' financial health by leveraging the latter’s Symitar platform and comprehensive suite of solutions.
Also, Jack Henry’s modern core infrastructure was selected by First Community Bank, Sunrise Bank and Today's Bank to provide better service to retail and business customers.
We note that an expanding customer base is likely to contribute to Jack Henry’s top-line growth in the near term. This will aid the company in winning investors’ confidence in the near term.
The Zacks Consensus Estimate for JKHY’s fiscal 2023 revenues is pegged at $2.05 billion, which suggests a 5.7% rise from the reported figure in fiscal 2022.
Coming to the price performance, shares of Jack Henry have lost 5.8% in the year-to-date period compared with the industry's decline of 19.8%.
Zacks Rank & Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #3 (Hold).
Some top-ranked stocks in the broader technology sector are Palo Alto Networks (PANW - Free Report) , NVIDIA (NVDA - Free Report) and AMETEK (AME - Free Report) . Palo Alto Networks and NVIDIA sport a Zacks Rank #1 (Strong Buy) each, while AMETEK carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Palo Alto Networks shares have gained 65% in the year-to-date period. The long-term earnings growth rate for PANW is currently projected at 31.5%.
NVIDIA shares rallied 173.8% in the year-to-date period. Its long-term earnings growth rate is presently projected at 23.02%.
AMETEK shares have increased 10.2% in the year-to-date period. The long-term earnings growth rate for AME is currently projected at 8.95%.