Jack Henry Announces Support For The FedNow Service
Portfolio Pulse from Happy Mohamed
Jack Henry (NASDAQ:JKHY) has announced its support for the Federal Reserve's new instant payment rail, the FedNow Service. The company's faster payment hub, JHA PayCenter, connects financial institutions to the FedNow Service, the Zelle Network, and the RTP network. Jack Henry has over 80 financial institution customers in various stages of implementation for the new network through the JHA PayCenter payments hub.
July 20, 2023 | 5:20 pm
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Jack Henry's support for the FedNow Service could potentially increase its customer base and revenue as it provides access to the new network for over 80 financial institutions.
Jack Henry's support for the FedNow Service positions it as a key player in the financial services sector. This could attract more financial institutions to use its services, potentially increasing its customer base and revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100