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Jack Henry & Associates, Inc. (JKHY) is a financial technology company that specializes in providing technology solutions and payment processing services to community and regional financial institutions . The company operates through four main segments, offering a range of products and services that cater to the needs of banks and credit unions . These offerings include core information processing platforms, secure payment processing tools, and additional software and services for digital banking and fraud prevention .
- Payments - Provides secure payment processing tools and services, including ATM, debit, and credit card processing, online and mobile bill pay solutions, ACH origination, and remote deposit capture processing .
- Core - Offers core information processing platforms to banks and credit unions, which include applications for processing deposits, loans, and general ledger transactions, and maintaining centralized customer/member information .
- Complementary - Offers additional software and services such as digital/mobile banking, treasury services, online account opening, fraud/anti-money laundering solutions, and lending/deposit solutions .
- Corporate and Other - Includes revenue and costs from hardware and other products not attributed to the other three segments .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Gregory R. Adelson Executive | President and Chief Executive Officer | None | Joined JKHY in 2011; previously COO and President; became CEO on July 1, 2024. | View Report → |
Mimi L. Carsley Executive | Chief Financial Officer and Treasurer | None | Appointed CFO in September 2022; previously held senior finance roles at Blucora, LPL Financial, and Microsoft. | |
Renee A. Swearingen Executive | Senior Vice President, Chief Accounting Officer, and Assistant Treasurer | None | Joined JKHY in 1996; appointed Chief Accounting Officer in May 2022; previously Controller and VP of Finance and Procurement. | |
Shanon G. McLachlan Executive | Senior Vice President and Chief Operating Officer | None | Joined JKHY in 2015; previously President of Credit Union Solutions; became COO on July 1, 2024. | |
Curtis A. Campbell Board | Director | President of Global Consumer Tax at H&R Block, Inc. | Director at JKHY since 2021; previously CEO of TaxAct and held leadership roles at Blucora, Capital One, and Intuit. | |
David B. Foss Board | Executive Board Chair | Director at CNO Financial Group, Inc. | Former CEO of JKHY (2016-2024); transitioned to Executive Board Chair on July 1, 2024. | |
Lisa M. Nelson Board | Director | President, International at Equifax, Inc.; Board Member at Equifax do Brazil | Appointed to JKHY Board in July 2024; extensive experience in global management and technology strategy, including leadership roles at Equifax in Australia, Canada, and Brazil. | |
Matthew C. Flanigan Board | Vice Chair and Lead Director | Director at Performance Food Group Company | Director at JKHY since 2007; former CFO and EVP at Leggett & Platt; extensive experience in finance and corporate governance. | |
Shruti S. Miyashiro Board | Director | President and CEO of Digital Federal Credit Union | Director at JKHY since 2015; extensive experience in credit union leadership, including as CEO of Digital Federal Credit Union and Orange County’s Credit Union. | |
Tammy S. LoCascio Board | Director | None | Appointed to JKHY Board in July 2024; former COO and CHRO at First Horizon Corporation; recognized as a Woman of Impact by the American Heart Association. | |
Thomas A. Wimsett Board | Director | Founder and Chairman of Merchant’s PACT | Director at JKHY since 2012; extensive experience in the payments industry, including leadership roles at Merchant’s PACT and ControlScan, Inc. | |
Thomas H. Wilson, Jr. Board | Director | Managing Partner at DecisionPoint Advisors, LLC; Director at NN, Inc. | Director at JKHY since 2012; extensive expertise in technology-oriented M&A and investment banking. | |
Wesley A. Brown Board | Director | President of Bent St. Vrain & Company, LLC; Director at FirstBank Holding Co. | Director at JKHY since 2015; expertise in banking and M&A, having completed over 125 transactions totaling $3.5 billion. |
- "Your competitor recently won a core processing deal with a bank under $10 billion in assets. Are you seeing increased competition in your target market, and how are you adjusting your strategy to maintain your competitive edge in winning new core clients?"
- "Interest income remains high for you, but you experienced a later ramp-up compared to peers. Can you explain what led to this timing difference and whether this interest income level is sustainable given potential changes in interest rates?"
- "Despite reporting strong sales and record sales attainment, you noted slower growth rates in on-premise annual maintenance and card processing. How do you plan to address these slower growth areas to meet your full-year revenue and margin expansion targets?"
- "You've emphasized the importance of your modern core modular platform and migration to the public cloud, especially with larger financial institutions. Can you provide specific examples of how this strategy is converting into new contracts or client migrations, and how it sets you apart from competitors?"
- "Given that Banno Business is not yet a significant contributor to user growth or revenue, even with a 20% increase in Banno users, what strategies are in place to accelerate growth in the business segment, and how does this impact your expectations for digital revenue growth?"
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes in the market for technology solutions to financial services organizations, specifically providing information and transaction processing solutions to banks and credit unions. This competitor has a longer operating history, larger client base, and greater financial resources. | |
Fiserv, Inc. | Operates in the same market, offering information and transaction processing solutions to banks and credit unions. It is noted for its significant resources and established presence in the industry. |
Corelation, Inc. | Provides information and transaction processing solutions to banks and credit unions, competing directly with the company's core solutions. |
Finastra | Another competitor in the financial technology space, offering information and transaction processing solutions to banks and credit unions. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Payrailz, LLC | 2022 | Completed on August 31, 2022, the acquisition was executed for a total cash purchase price of $229,563—with $48,500 held in escrow for post-closing adjustments—and was funded by a revolving credit line and operations cash. It strategically expanded Jack Henry’s digital payments ecosystem by adding cloud-native, API-first, AI-enabled digital payment and P2P capabilities, resulting in $116,697 of goodwill and identifiable intangible assets such as customer relationships and computer software. |
Recent press releases and 8-K filings for JKHY.
- CEO Gregory Adelson, who took the helm in July 2024 after a 14‑year tenure at the company, outlined his strategy to build on his predecessor’s work through technology modernization and enhanced execution across the business.
- Executives noted that despite mixed macroeconomic signals, there has been no slowdown in core banking volumes, with a continuously robust pipeline and improved process efficiencies aiding margin expansion.
- The company is advancing its digital transformation with AI integration into products like Banno Conversations and is launching an innovative SMB solution in partnership with Moov, which aims to drive future revenue growth and deepen customer relationships.
- Jack Henry presented its diversified fintech offerings for U.S. banks and credit unions, covering core processing, digital banking (Banno), payments, and complementary solutions, highlighting a strong demand environment.
- The executives stressed the resilience of IT spending with a continued focus on digital solutions and a strategic shift from on-premise to a 75% private cloud footprint, with plans for further public cloud integration starting in 2026.
- Emphasis was placed on the company’s progress in accelerating digital adoption, including faster payments rails and a key partnership with Moov aimed at enhancing merchant services for small to medium-sized businesses.
- The call also noted a robust sales pipeline with significant core wins and favorable industry consolidation trends that are expected to drive future revenue growth.