MONET, Mo., December 2, 2021 /PRNewswire/ — Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily to the financial services industry. Jack Henry today announced his collaboration with Envestnet | Yodlee, a leading data aggregation and analytics platform powering dynamic cloud-based innovation for digital financial services. The approximately 530 financial institutions that take advantage of the Banno digital platform™ can now quickly and easily add financial wellness apps and experiences supported by Envestnet | Yodlee in their digital experiments.
Investnet | Yodlee’s financial data aggregation platform enables these businesses and financial institutions to offer safe and secure connections to over 1,400 third-party applications. Instead of consumers using or storing their banking ID and password, they can now enjoy faster and more reliable access through Jack Henry’s direct Application Program Interface (API) connectivity. to Envestnet | Yodlee. With the more comprehensive access to financial data this agreement enables, financial institutions benefit from increased visibility and access to consumer relationships, a better understanding of their customers’ needs, and a way to personalize banking experiences. Integrating these connections into their digital platforms enables Jack Henry’s clients to become the premier application for consumer financial experiences.
Brad Nightengale, Senior Director of the Data Strategy Group at Envestnet | Yodlee said: “A relationship like this with Jack Henry represents a key milestone for Envestnet | Yodlee’s mission to support a financial ecosystem with direct API connections. Jack Henry has a reputation for doing the right thing, and Envestnet | Yodlee believes enabling seamless access to data connections is key to improving the quality, security and privacy of consumer financial experiences.”
Ben MetzHead of Digital at Jack Henry, added: “Many consumers now have relationships with between 30 and 40 financial service providers, the majority of which are unknown. This fragmentation creates complexity for the consumer and compromises financial health. also presents financial institutions with an opportunity to achieve app-first status by consolidating all of their consumers’ third-party providers and simplifying money management.To do this, financial institutions must be fully connected to the ecosystem. open banking through safe, secure and reliable connections to third parties Envestnet | Yodlee has been a pioneer in building and securing these connections, and we are excited about what their vast network will bring to the more than 6 million consumers served by banks and credit unions on the Banno digital platform.
Envestnet refers to the family of operating subsidiaries of public holding company Envestnet, Inc. (NYSE: ENV). Envestnet is transforming the way financial and wellness advice is delivered. Our mission is to empower advisors and financial service providers with innovative technologies, solutions and intelligence to make financial well-being a reality for everyone. Nearly 108,000 advisors and more than 6,000 companies, including: 17 of the top 20 US banks, 46 of the top 50 wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of FinTech companies, leverage Envestnet technology and services that help better drive results for businesses, advisors and their clients.
About Jack Henry & Associates, Inc.®
Jack Henry (NASDAQ: JKHY) is a leading SaaS provider primarily aimed at the financial services industry. We are an S&P 500 company serving approximately 8,500 clients nationwide through three divisions: Jack Henry Bank® brings 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 all asset sizes, as well as various corporate entities outside of the financial services industry. With a legacy of openness, partnership and user-centricity spanning over 40 years, we are well positioned as a market driving force in cloud-based digital solutions and payment processing services. We provide our clients and consumers with human-centric, cutting-edge, knowledge-driven solutions that will take them where they want to go. Are you ready for the future? Additional information is available at www.jackhenry.com.
Statements made in this press release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in the 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 about these and other factors that could affect the Company’s financial results is included in its filings with the Securities and Exchange Commission (SEC) on Form 10-K, and prospective investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company’s filings with the SEC that may cause actual results to differ materially from any forward-looking information.
Jack Henry & Associates and Envestnet are separate and unaffiliated companies. This release should not be construed as a recommendation or endorsement of any particular product, service or company.
SOURCEJack Henry & Associates, Inc.