Business
Jack Henry Partners with Open Banking Providers to Enhance Digital Platform
Jack Henry integrates with Finicity, Akoya and Plaid at zero cost, zero lift to community financial institutions. MONETT, Mo., Oct. 12, 2021 /PRNewswire/ --
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"Jack Henry integrates with Finicity, Akoya and Plaid at zero cost, zero lift to community financial institutions.\n\n\nMONETT, Mo., Oct. 12, 2021 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Jack Henry announced today that Finicity, Akoya, and Plaid are among the first open banking pioneers to integrate to the Banno Digital Platform using the Banno Digital ToolkitSM. \nThis provides better security, privacy and transparency for the nearly 6 million consumers banking with the Banno Digital Platform by removing screen scraping. Consumers now have access to a complete financial picture through their financial institution, without having to provide credentials to third parties at the risk of their own privacy. Instead, these integrations allow consumers to grant permission, along with the option to later revoke it, to data that they want to share with third parties via their financial institution. This results in a more secure connection, a better user experience and ultimately, peace of mind to the consumer. \nBen Metz, head of digital at Jack Henry, explained, \"We want to ensure that community financial institutions are prepared for the future, so we've delivered a platform that attracts modern fintechs and services that financial institutions can use to build their own unique ecosystems to better serve their account holders. We believe that we are setting a precedent for the industry to make every effort to encourage better security, privacy, openness and collaboration. It's truly what community banks and credit unions need in order to stay at the center of financial transactions.\" \nWith the Banno Digital Toolkit, financial institutions can leverage the same API layer that the Banno Digital Platform utilizes to create and customize their own integrated fintech solutions. Jack Henry offers a growing library of popular financial services apps that are fully integrated to the Banno Platform, allowing Jack Henry's financial institution customers to have fast, secure, on-demand access to these fintech solutions. The Banno Digital Toolkit is better than a traditional SDK (software developer kit) because it presents endless possibilities for innovation and complete efficiency through a fully in...