Jack Henry & Associates’ JKHY technology platform has been chosen by Bank of Burlington, RockPoint Bank and Moultrie Bank & Trust.
The banks selected the company’s LoanVantage platform and Banno Digital Platform. The LoanVantage platform helps in diversifying its loan portfolio, whereas the Banno Digital platform offers an enhanced digital experience.
On the back of Jack Henry’s technology platforms, the banks aim to expand the accessibility of their financial services to local businesses and professionals.
The selection of LoanVantage and Banno Digital platforms highlights the robustness of these solutions.
With the recent move, Jack Henry has added strength to the customer base. This is expected to contribute to its top-line growth in the upcoming period.
Jack Henry & Associates, Inc. Price and Consensus
Jack Henry & Associates, Inc. price-consensus-chart | Jack Henry & Associates, Inc. Quote
Growing Customer Partnerships
Apart from the above-mentioned three banks, Jack Henry extended its relationship with Independent Financial. Per the terms, Independent Financial will leverage Jack Henry’s digital lending platform, LoanVantage, for automating commercial loans for small and medium-sized businesses.
Additionally, the company’s Symitar solution got picked by Siouxland Federal Credit Union and Fulda Area Credit Union for hosting core solution in a private cloud space.
Also, IncredibleBank selected Jack Henry’s online account opening solution to improve its online account opening procedure.
Old Missouri Bank also selected the Jack Henry banking system and Banno Digital Platform along with Jack Henry’s digital lending, deposit, and payment solutions to meet growth plans and provide an enhanced experience to customers.
Further, the company’s Jack Henry Lending platform has been chosen by the Bank of Charles Town for automating commercial lending.
Portfolio Strength
Jack Henry’s growing momentum among customers is attributed to its reliable and efficient portfolio of solutions. Also, the company keeps bringing advanced technological solutions to better serve customers.
Recently, JKHY embedded tax return spreading into its LoanVantage platform to help banks and credit unions streamline and automate the lending process.
It also released agricultural industry spreading models to help financial institutions in the seamless processing of agricultural loans.
Additionally, the company 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 & Other Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #2 (Buy).
Investors interested in the broader technology sector can also consider stocks like Advanced Micro Devices AMD, Arrow Electronics ARW and Analog Devices ADI. While Advanced Micro Devices and Arrow Electronics sport a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Advanced Micro Devices has gained 47.9% in the past year. The long-term earnings growth rate for AMD is currently projected at 29.1%.
Arrow Electronics has gained 21.2% in the past year. The long-term earnings growth rate for ARW is currently projected at 3.1%.
Analog Devices has gained 9.1% in the past year. The long-term earnings growth rate for ADI is currently projected at 12.3%.
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