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Jack Henry (JKHY) Partners IncredibleBank, Boosts Clientele

Jack Henry & Associates JKHY has been selected by IncredibleBank to improve the latter’s online account opening procedure. This highlights the strength of the company’s solutions.

IncredibleBank leverages Jack Henry’s online account opening solution for personalized content and seamless procedure. The solution also helps in same-day decision making and enables easy funding.

In addition, the bank uses the Banno Digital Toolkit for leveraging the integrations available to Jack Henry’s customers with the help of the Banno Digital Platform.

With the IncredibleBank’s pick, the customer base of Jack Henry has strengthened. This is expected to contribute to Jack Henry’s top-line growth in the upcoming period.

Growing Customer Base

In addition to the recent partnership, Jack Henry’s lending platform has been selected by 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 to 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.

Also, Jack Henry extended the collaboration with Crews Banking Corporation. Per the deal terms, Crews is using Jack Henry’s solutions for advancing its banking operations.

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.

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 & Stocks to Consider

Currently, Jack Henry carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector include Advanced Micro Devices AMD, Mimecast Limited MIME and Trimble TRMB, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Advanced Micro Devices has gained 47.5% over a year. The long-term earnings growth rate for AMD is currently projected at 46.2%.

Mimecast has gained 80.3% over a year. The long-term earnings growth rate for MIME is currently projected at 35%.

Trimble has gained 8.1% over a year. The long-term earnings growth rate for TRMB is currently projected at 14%.


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