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TCH and Jack Henry to Bring Real-Time Payments to Minority Communities

New York – In an effort to bring the benefits of real-time payments to all Americans, especially those in communities served by minority-owned depository institutions (MDIs), The Clearing House and Jack Henry & Associates are jointly covering the costs of the onboarding fees for MDIs connecting to the RTP® network, the real-time payments network operated by The Clearing House, using JHA PayCenter™, Jack Henry’s proprietary payments hub. 

The FDIC defines MDIs as any federally insured depository institution with 51 percent or more of the voting stock owned by minority individuals. Minority banks and credit unions are key contributors to their local economies and often provide financial services for many individuals and small businesses that are historically underserved and often susceptible to predatory lending practices, such as exorbitant interest rates or check cashing services that charge high fees.

“Many communities served by MDIs need access to flexible, faster payments which can help prevent missed payments, avoid late fees and penalties, protect credit scores, and improve cash flow and financial health,” said Tede Forman, head of consumer and commercial payments for Jack Henry & Associates. “This exciting program enables Jack Henry to financially partner with The Clearing House to give these financial institutions parity with larger institutions and hopefully prevent many consumers and small businesses from being underbanked.”

“Demand for faster payments has never been higher, and all Americans deserve to enjoy the benefits that can help solve many customer cash-flow concerns,” said Jim Aramanda, President & CEO, The Clearing House. “By easing the access to the RTP network for minority-owned banks and credit unions, many individuals and small businesses in these communities can reap the benefits of faster funds availability.”

Real-time payments processed on the RTP network provide consumers and small businesses with the ability to receive payments 24 hours a day, seven days a week, with immediate confirmation of payment receipt. These capabilities help to put the customer in control of their payments and could dramatically reduce reliance on the use of check cashing services, or dependence on slower payment methods that may lead to late fees and penalties.  Small businesses served by MDIs with JHA PayCenter and the RTP network will have the ability to receive payments immediately, which will allow them to pay workers or purchase inventory or supplies on the same day. Currently, Jack Henry has more than 115 financial institutions live on its faster payments hub, JHA PayCenter. 

The RTP network, developed by The Clearing House, is empowering financial institutions of all sizes and businesses to implement innovative, value-added use cases for faster payments. The RTP network gives the banking industry a modern platform for 24/7 domestic real-time payments, complete with rich data capabilities and immediate payment confirmation. The network enables instantaneous settlement and availability, so funds can be used or withdrawn as cash within seconds. 

The RTP network’s real-time payment capabilities reach approximately 60% of U.S. demand deposit accounts, with more financial institutions joining the network each week. Moreover, financial institutions that hold 70% of U.S. DDAs have technical access to the RTP network, often through core banking technology providers, such as Jack Henry & Associates and others. The RTP network offers a flat pricing structure for all depository institutions regardless of size, does not include volume discounts or have minimum volume requirements, and, unlike ACH, does not charge an operator fee to receive payments.

About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks. Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in cloud-based digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at

About The Clearing House
The Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments. It is the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. Most recently, The Clearing House has revolutionized U.S. payments infrastructure with the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at


Media Contact 

Greg MacSweeney
The Clearing House

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