About the Company
Founded in 1976, Jack Henry & Associates, Inc. is an American technology-based company that provides payment processing services. In 1985, the company went public. Jack Henry & Associates, Inc. shares are traded on NASDAQ under the ticker symbol “JKHY”. It introduced the CIF 38 core processing system in 1988. The company first acquired the Financial Systems Division of Bank Tec, Inc. in 1999. In 2002, it expanded its operations to credit unions by purchasing Cruise core processing system.
It offers more than 300 products and services and operates through two segments – Credit Union Systems & Services and Bank Systems & Services. Headquartered in Monett, Missouri, USA, it serves approximately 9,000 customers and employs over 6,500 associates as of January 2021.
JKHY offers its products and services through three primary brands – Jack Henry Banking, Symitar, and ProfitStars. Two of the most notable subsidiaries of the company include Jack Henry Services and Bayside Business Solutions. Symitar provides over two software systems to credit unions; whereas, Jack Henry Banking provides more than 4 software systems to banks. The two software systems offered by the Symitar brand include its core platform, Episys and CruiseNet, a client/server system that runs on Windows OS. Jack Henry ProfitStars provides specialised services and solutions to financial companies of every size and even corporate bodies outside its sphere as well.
Since its establishment, JKHY has acquired more than 10 companies. Out of these acquisitions, 3 of them were private-equity firms. In 2010, it completed the acquisition of iPay Technologies for approximately $300 million; it is the company’s largest acquisition to date. The two main target sectors of JKHY include Information Technology and software. In 2018, it acquired BOLTS Technologies and the following year, it completed the acquisition of Geezeo, a digital banking solutions provider headquartered in Braintree, Massachusetts. In 2018, JKHY was ranked 12th on Forbes’ list of the Best American employers. A year later, Forbes recognised it as America’s Best Employers by State. In 2020, JHA OpenAnywhere was awarded the Best Banking Infrastructure Platform Award by Fintech Breakthrough.;
|Organisation||Jack Henry & Associates Inc|
|Industry||Information Technology Services|