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Jack Henry & Associates JKHY has expanded collaboration with Crews Banking Corporation. Per the accord, its solutions will be used by Crews for advancing the latter’s banking operations.
The company’s digital loan platform will be utilized by Crews to make the digital lending process automatic and improve borrower experience.
Further, Crews’ individual chartered banks are leveraging the Banno Digital Platform for improving digital experience.
Crews has already been using Jack Henry’s older core system. Its chartered banks are now gaining a long-term technology platform to seamlessly operate their businesses by using Jack Henry’s SilverLake SystemCore.
By leveraging Jack Henry’s private cloud, Crews further strives to minimize IT burden and meet regulatory demands in an improved manner.
The latest selection by Crew highlights the efficiency and reliability of Jack Henry’s solutions.
Jack Henry & Associates, Inc. Price and Consensus
Jack Henry & Associates, Inc. price-consensus-chart | Jack Henry & Associates, Inc. Quote
Growing Client Base
With the recent move, Jack Henry has added strength to the customer base.
In addition to the recent collaboration, the company has expanded its partnership with FirstBank. FirstBank selected Jack Henry’s digital commercial loan platform for creating efficient digital experience for both borrowers and lenders.
Further, it 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.
Jack Henry’s Core Director core system has been chosen by five community banks for minimizing duplicate data entry requirement, saving time and improving accuracy.
Additionally, Jack Henry and CU Business Group signed a referral partnership to make 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.
Expanding Portfolio of Solutions
Jack Henry’s client base is likely to continue expanding owing to its growing efforts toward bolstering the solutions portfolio.
It recently introduced SecurePort for banks to help customers gain access to account balances and funds, and protect them in times of crisis.
In addition, it added a new suite of tools and analytics from Stackfolio to bolster lending capabilities.
This apart, Jack Henry Lending launched a powerful digital solution named FactorSoft Web Portal that provides near-real-time servicing to lenders anytime and anywhere.
It also released agricultural industry spreading models to help financial institutions in seamless processing of agricultural loans.
Further, the availability of Jack Henry Consumer Loans for creating and managing loans as well as supporting borrower relationships remains noteworthy.
Zacks Rank & Other Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the broader technology sector include Avnet AVT, ON Semiconductor ON and Nikon NINOY, each carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rates for ON, Nikon, and Avnet are currently projected at 53.9%, 51.6%, and 25.4%, respectively.
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