Jack Henry & Associates, Inc. JHA Payment Solutions group today announced a partnership with The Clearing House (TCH) to expand the scope of U.S. financial institutions equipped to send and receive new real-time transactions..
The Clearing House is currently working to build a new real-time payment system, which TCH will own and operate. In partnering with JHA Payment Solutions, TCH will greatly expand the new system’s reach and advance the goal of real-time payment ubiquity – a desired outcome the Federal Reserve has identified for an enhanced U.S. payments system.
A key attribute of JHA Payment Solutions’ faster payments strategy is to ensure that financial institutions have access to new payment platforms that will allow them to offer innovative products to their customers. Collaborating with TCH expands JHA Payment Solutions’ modernization initiatives across its network of more than 6,300 diverse banks and credit unions.
According to Steve Ledford, SVP, product and strategy at The Clearing House, “This new partnership with Jack Henry is a significant step in meeting our goal of ubiquity for real-time payments. JHA Payment Solutions has a proven track record of delivering cutting edge innovative solutions to its vast network of bank and credit union clients, so we are excited that they chose to team up with us to support our real-time payment system.”
JHA Payment Solutions facilitates the adoption of exciting technologies at diverse banks and credit unions. Extending the benefits of TCH’s real-time system revolutionizes payments by enabling its financial institution clients to send and receive transactions in real time, in a payments environment that is secure and flexible to incorporate future payment innovations.
Greg Adelson, general manager of JHA Payment Solutions, said, “Our partnership with TCH is a significant milestone for JHA and continues to reinforce that our JHA Payment Solutions group is at the forefront of industry transformation. We are evolving to a world where payment standards are aligning and all financial institutions, regardless of size, have equal access to the same superior capabilities. We are eager to be a key partner in helping TCH realize its vision of safe, real-time payments, which will benefit both the business and consumer customers of our financial institution clients.”