Jack Henry hits faster payments milestone

Source: Jack Henry & Associates

Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry.

The organization today announced that it is in active onboarding with the Zelle Network® to launch JHA PayCenter™, a proprietary payments hub that provides financial institutions with a single integration point to faster payment networks, including Zelle® and the RTP® network from The Clearing House.

JHA PayCenter centralizes and streamlines how financial institutions send and receive real-time payments. The platform will provide Jack Henry's bank and credit union core clients with low cost, full-service access to both faster payment networks and any future faster payment networks.

Jack Henry is currently certifying the comprehensive set of services including real-time messaging, posting to the core, data contribution, settlement and reconciliation processes that will fully support clients in a hosted multi-tenant environment. JHA PayCenter will be rolled out in stages throughout 2019 to all Jack Henry core platforms, with the first financial institution scheduled to go live in May. The hub's open infrastructure will support product development directly by financial institutions and other third-party mobile and online banking vendors that want to leverage Zelle and the RTP network.

Greg Adelson, vice president of Jack Henry & Associates and general manager of JHA Payment Solutions™, said, "Jack Henry has built a sophisticated multi-tenant payments hub to provide our financial institution clients with a full-service solution to help them compete in an evolving payments marketplace. With JHA PayCenter, regional and community financial institutions can remain at the center of the payments experience and offer emerging technologies faster and with significantly less expense than they would by initiating this effort on their own. JHA has created the model that will help expedite how quickly the industry can reach the ultimate goal of ubiquity in payments."

JHA PayCenter is positioned for aggressive client adoption in 2020. The hub will onboard approximately 25 institutions per month. 

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