FOR IMMEDIATE RELEASE
JHA Payment Solutions brings network of 7,600 banks, credit unions to TCH’s real-time payments initiative
Monett, Mo. – March 8, 2016 – Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its 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, 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 7,600 diverse banks and credit unions.
According to Steve Ledford, SVP, Product and Strategy at The Clearing House, “This new partnership with JHA is a significant step in meeting our goal of ubiquity for real-time payments. JHA has a proven track record of delivering cutting edge innovative solutions to its vast network 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.”
About The Clearing House
The Clearing House is a banking association and payments company that is owned by the largest commercial banks and dates back to 1853. The Clearing House Payments Company L.L.C. owns and operates core payments system infrastructure in the United States and is currently working to modernize that infrastructure by building a new, ubiquitous, real-time payment system. The Payments Company is the only private-sector ACH and wire operator in the United States, clearing and settling nearly $2 trillion in U.S. dollar payments each day, representing half of all commercial ACH and wire volume. Its affiliate, The Clearing House Association L.L.C., is a nonpartisan organization that engages in research, analysis, advocacy and litigation focused on financial regulation that supports a safe, sound and competitive banking system. See The Clearing House’s web page at www.theclearinghouse.org.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve almost 10,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
Jack Henry & Associates, Inc.
663 Highway 60, P.O. Box 807
Monett, MO 65708
Kevin D. Williams (JHA)
Chief Financial Officer
Jessica Randall (JHA)
Corporate Communications Manager
The Clearing House Payments Company, L.L.C.
1114 Avenue of the Americas
New York, NY 10036
Sean Oblack (TCH)
SVP Media and Public Affairs