Google Cloud will help Jack Henry to build cloud-first technologies that enhance its existing data, reporting, and integration systems, and create a new set of services that form a modern digital core for banks and credit unions
Jack Henry teams up with Google Cloud. (Credit: Bethany Drouin from Pixabay)
US-based financial technology company Jack Henry has entered into collaboration with Google Cloud to further support its multi-year next-generation technology strategy.
The company’s technology strategy is focused on helping community and regional financial institutions to rapidly address the evolving needs of their accountholders.
The collaboration with Google Cloud will help Jack Henry to build cloud-first technologies that upgrade existing data, reporting, and integration systems.
In addition, the company is enabled to create a new set of services that form a modern digital core for banks and credit unions.
Google Cloud will provide several technological benefits to Jack Henry, including scalability, operational uptime, security compliance solutions, along with cloud, data, and AI platforms.
Google Cloud CEO Thomas Kurian said: “We look forward to providing Jack Henry with secure and scalable cloud infrastructure to modernize their tech stack and accelerate innovation for their customers.
“With cloud-first tools and services, community banks and credit unions can create digital experiences that combine relationship banking with leading technology to better fit their clients’ needs and promote financial wellness.”
Jack Henry board chair and CEO David Foss said: “We are pleased to work with Google Cloud to offer community and regional financial institutions our banking services natively in the cloud.”
In a separate development, Jack Henry has closed its previously announced acquisition of US-based digital payments company Payrailz, for an undisclosed sum.
Payrailz is engaged in providing cloud-native, API-first, AI-enabled advanced digital payment and money transfer solutions to banks and credit unions.
The transaction will result in the integration of Payrailz’s next-generation digital payment capabilities into the company’s payments ecosystem.
Jack Henry said that the acquisition will support its technology strategy, and enhances its payments-as-a-service (PaaS) strategy
Jack Henry board chair and CEO David Foss said: “This acquisition provides our collective clients with additional functionality, optionality, and flexibility and better supports the digital and payment strategies of diverse banks and credit unions.
“The projected impact of this acquisition will be disclosed as part of FY23 first quarter earnings, and as a reminder, our FY23 earnings per share guidance provided in our most recent earnings press release did not include the impact of this acquisition.”