Business
Jack Henry Continues Phase Out of Screen Scraping on the Banno Digital Banking Platform
Company has replaced inbound screen scraping with safe and secure consumer-permissioned data sharing through open-banking APIs across hundreds of thousands of
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"Company has replaced inbound screen scraping with safe and secure consumer-permissioned data sharing through open-banking APIs across hundreds of thousands of apps and millions of accountholders\nMONETT, Mo., May 23, 2023 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced it continues to replace inbound screen scraping on its Banno Digital Banking Platform with API connections to all five major data exchange platforms, Finicity, Akoya, Plaid, Envestnet | Yodlee, and Intuit, giving accountholders more control of their financial data and protecting financial institutions from a wide range of fraud and security risks that arise from passwords shared with third parties. Screen scraping, while a common practice throughout the industry, presents multiple challenges in both security and customer experience; Jack Henry is on track to eliminate all inbound screen scraping on its Banno Digital Banking Platform by the end of summer this year.\n\n \n \n \n \n \n \n\n \nScreen scraping is an automated process that uses bots, web crawlers, and other proprietary tools to log into websites on behalf of accountholders using their passwords and credentials. In addition to being a slow and unreliable means of data extraction, screen scraping makes it difficult for financial institutions to distinguish legitimate login attempts from fraudulent ones, leaving systems vulnerable to credential-stuffing attacks and other cyber threats that continue to plague the industry at large.\nReplacing inbound screen scraping for the more than 700 banks and credit unions on Jack Henry's Banno Digital Banking Platform inaugurates a new and more secure era of financial data exchange. Unlike the indiscriminate data extraction performed by screen scraping, open-API aggregation allows accountholders to specify, minimize, and fully control their data and how it's shared with third-party providers—including the ability to grant or revoke data permissions within their bank or credit union's digital banking experience.\n\"This is an important milestone for the industry, and I am in full support of modernizing the exchange of financial data with Jack Henry's direct APIs to the five major data exchanges,\" said Phil Suckow, vice president of innovation at $1.9 billion IncredibleBank. \"Ending screen scraping for the more than 9 million end-users on Jack Henry's Banno Digit...