Business
Jack Henry and Array Collaborate to Improve Consumers' Financial Health
Companies to provide community and regional financial institutions' accountholders with better access to their credit data, improved credit monitoring and
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"Companies to provide community and regional financial institutions' accountholders with better access to their credit data, improved credit monitoring and personalized offers \nMONETT, Mo., May 19, 2022 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ: JKHY) announced today that Array's credit management services, identity protection tools, and offers engine will be integrated into the Banno Digital PlatformTM, offering consumers personalized credit and financial insights through their trusted financial institutions.\n\n \n \n \n \n \n \n\n \nArray has leveraged the Banno Digital ToolkitSM, the same set of APIs the Banno Digital Platform is built on, to offer consumer credit and identity protection tools. Now, consumers can securely access and monitor their credit directly through their bank or credit union. Embedding this service protects consumers' data and reduces the risk of competitive products being sold. Banks and credit unions will also gain a better understanding of their consumers' complete financial lives, while boosting digital engagement, driving revenue, and maximizing lending and credit opportunities.\nWash.-based Timberland Bank was an early adopter of Array's products. Jonathan Fischer, EVP and COO of the bank, said, \"We aim to be at the center of our consumers' financial health and enablement; finance and credit tools are an integral part of this mission. The openness of Jack Henry's digital platform makes it easy for us to offer strategic products like Array. Through this collaboration, our staff has the tools necessary to engage and educate customers on their credit health, which strengthens relationships and ultimately improves our community's well-being.\"\nFinancial institutions can customize their consumer's experience, easily managing everything from the credit bureau data used to the tools featured. Examples of what can be customized include score simulators*, score factors, debt analysis, alerts, and more. By increasing awareness of consumers' credit information and history, banks and credit unions can provide education, and identify areas to improve and support healthier financial decisions. With this information, financial institutions can offer consumers relevant products at their moment of need.\nJacob Bouer, director of strategic partnerships at Array, added, \"The financial services ecosys...