Pegasus Bank among the initial institutions leveraging JHA PayCenter to connect to the RTP network
NEW YORK, Oct. 29, 2019 /PRNewswire/ -- Today, The Clearing House (TCH) has announced that 15 Jack Henry & Associates customers, including Dallas-based Pegasus Bank, will implement Jack Henry's JHA PayCenter™ to connect to the RTP® network, a new payment network that financial institutions can use to clear and settle real-time consumer and business payments.
JHA PayCenter is a proprietary payments hub that will enable banks and credit unions to provide a real-time payment experience, supported through Jack Henry's core and digital solutions. It will offer a single integration point to the RTP network. Jack Henry & Associates, Inc. is a provider of technology solutions and payment processing services primarily for the financial services industry.
These initial 15 institutions are expected to be the first of many Jack Henry clients that will connect to the RTP network through JHA PayCenter. Pegasus Bank, which has more than $657 million in assets, and the other banks in this first wave will be able to offer their consumer and commercial accountholders, for the first time, the ability to receive real-time payments sent by accountholders at a continually expanding number of federally-insured depository institutions without incurring interbank settlement risk.
"JHA PayCenter gives our institution the clearest, most cost-effective path to making faster payments a reality – now and as additional options emerge," said Jenny Murphey, executive vice president and chief operating officer for Pegasus Bank. "Joining the RTP network will allow us to offer our customers more efficient payment services and empower them to receive their money faster with payments that clear and settle in real-time."
Greg Adelson, vice president of Jack Henry & Associates and general manager of JHA Payment Solutions™, added, "We are strategically focused on providing modern payment solutions that help financial institutions of all sizes and charters deliver secure, convenient payment experiences. We look forward to partnering with Pegasus Bank and many other institutions as they continue to modernize their payment channels and meet the growing demand for real-time payments."
"These initial institutions represent the first wave of banks and credit unions that will join the RTP network through Jack Henry," said Russ Waterhouse, executive vice president of product strategy and development, for The Clearing House. "We are excited that Pegasus Bank and the other financial institutions will be joining the RTP network to offer customers faster access to their money and all the benefits of real-time payments."
JHA PayCenter's open infrastructure will support product development directly by financial institutions and other third-party mobile and online banking vendors that want to leverage the RTP network. RTP technology supports payments innovation and is expected to lead to the development of modern payment services that will ultimately allow users to exchange non-payment messages and benefit from other value-added features.
The RTP network currently reaches more than 50% of U.S. transaction accounts and adoption is growing. RTP technology will enable financial institutions of all sizes to create new payment services and ultimately allow users to exchange non-payment messages and leverage other value-added features.
About Pegasus Bank
Pegasus Bank is a locally owned financial institution in Dallas, Texas. In 2018, the bank opened its third branch in addition to the mortgage origination office. Pegasus Bank offers a full suite of both retail and business banking services.
About Jack Henry & Associates
Jack Henry & Associates, Inc.® (JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The S&P 500 company's solutions serve more than 9,000 customers nationwide and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
About The Clearing House
Since its founding in 1853, The Clearing House has delivered safe and reliable payments systems, facilitated bank-led payments innovation, and provided thought leadership on strategic payments issues. The Clearing House continues to leverage its unique capabilities to support bank-led innovation, including launching the RTP® network, a real-time payment system that modernizes core payments capabilities for all federally-insured U.S. depository institutions. The Clearing House is owned by 24 financial institutions and supports hundreds of banks and credit unions through its core systems and related services. Learn more at www.theclearinghouse.org.