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Digital Banking

Improving the Accountholder Experience: Jack Henry™ Connect 2023

Melanie Reneris
Dec 5, 2023

We heard it often onstage at Jack Henry Connect: Today’s accountholders have a lot of options, and it’s not just banks or credit unions you’re competing against anymore.

It’s more essential than ever to double-down on accountholder experience. It’s also no surprise that improving the accountholder experience ranked as a “Top 5” initiative over the next two years, according to CEOs responding to Jack Henry’s 2023 Strategic Initiatives Benchmark Survey. TM 

The question is: What can you take from all of the discussions and presentations at Jack Henry Connect to help you improve the accountholder experience and drive that “And the kick is good!” euphoria among your accountholders?


Integrate So You Can Innovate

“You can still differentiate on service, relationships, and trust,” said Ben Metz, Jack Henry’s Chief Digital and Technology Officer.

But to differentiate successfully, both Jack Henry and the banks and credit unions we work with need to be operating as an ecosystem and integrating with key strategic partners. Once that happens, then – and only then – can we all truly innovate.

This is where open banking, artificial intelligence (AI), and machine learning (ML) enter the picture, as enablers of this ecosystem development and supporting integration. But beyond theoretical discussions of future technologies, Jack Henry Connect sessions delivered actionable items behind the hype to help you improve your accountholder experience.

The Future of Deposit and Loan Origination

In Thursday’s closing session, Mark Messick, Jack Henry’s Director of Product Management for Loans and Deposits, began with two key facts:

  • 66% of Gen Z consumers would switch their primary financial services organization for a better app or better digital services and
  • Every age group (from millennials to seniors) prioritizes ease-of-use over advanced features (Aite)

His takeaway? Banks and credit unions need to deliver functionality to your accountholders in simple, easy-to-use ways. Interactions need to be fast, seamless, and available on any device, any time of day, from anywhere in the world.

The good news is that AI, ML, and open banking make it possible to deliver these interactions at scale, and through technology that is available today. For example:

  • AI will “read” the information on a scanned document provided by an applicant and autofill required fields to remove keystrokes and simplify the loan or deposit application experience with LoanVantage™ or JHA OpenAnywhere™.
  • An integration with fintech partner Alloy uses the powerful combination of AI, ML, and open banking to make real-time decisions about fraud and risk using hundreds of data sources from initial application throughout the life of the account.
  • The combination of open banking and AI in banking empowers financial institutions to use trends in account balances, cash flow, overdraft history, and more to help create deeper financial inclusion by providing more access to credit. Because people are more than their credit score, a broader understanding of their full financial picture can help you make better, more informed decisions.

The Easiest Conversation You’ll Ever Have with Your CFO

Conference attendees also heard from Martin Toha, CEO and Founder of Array, a fintech working with banks and credit unions to improve the financial health of accountholders. He announced a new path banks and credit unions can take to support the financial health of accountholders through an integration between Array and Banno™.

Through this new integration (which is available automatically and turned on by default), your end users can gain no-cost access to:

  • Credit management
  • Privacy protection
  • Digital financial management/subscription management
  • Identity protection

These tools will be available right within the digital banking experience, making them easy to access and use. Accountholders looking for more robust tools can opt to upgrade to a premium, paid service. If they do make this upgrade, participating banks and credit unions will receive a revenue share.

Described onstage as the “easiest conversation you’ll ever have with your CFO,” this integration offers new non-interest income, while simultaneously bolstering the financial health of your accountholders.

Differentiate Through Your Digital Banking Strategy

Beyond digital banking integrations coordinated by Jack Henry, conference attendees also had the chance to learn about customizing the digital banking experience through open APIs and the plugin framework.

In a timely conversation that decoded technical concepts for bank and credit union leaders, attendees learned that an API is a way for two pieces of software to talk to one another. Through Jack Henry’s plugin framework, financial institutions can easily integrate outside functionality or add software that will display within Banno’s digital banking experience.

The combination of open APIs, along with the publicly available developer documentation and frameworks for plugins, authentication, and admin found on, give today’s banks and credit unions the opportunity to bring differentiating and desired functionality to your accountholders fingertips.

Given the financial fragmentation and 30-40 financial apps and relationships Gen Z consumers have, this ability to craft a unique digital experience for your financial institution is especially powerful and timely.

Here are just a few of the diverse use cases that have already been built using the Banno Digital Toolkit™:

  • Financial literacy and financial health solutions
  • Digital account opening
  • Direct deposit switching
  • Wealth management and retirement planning
  • Estate planning
  • Investments, crypto, and fractional savings
  • Marketing
  • Skip-a-pay
  • Small business invoice and payments

With so many ways to customize your digital experience to reflect your accountholders’ needs and your institution’s unique strategy, it’s a great time to look at how the Digital Toolkit can help.

Improving the Accountholder Experience

It’s clear from the sessions at Jack Henry Connect that technology is driving the accountholder experience initiatives of the future – even if they’re ultimately delivered by a human. It’s why today’s CEOs retain such a laser-like focus on delivering an incredible experience through in-person and digital channels.

After all, relationships, service, and trust do make a difference. And when your accountholders see you improving response times, reducing friction, and delivering on their timeline – you’ll be splitting the uprights in style for an emphatic win.

Subscribe today for more key takeaways from this year's Jack Henry Connect. 

Save the date, our 2024 Jack Henry Connect will be October 7 – 10 in Phoenix, Arizona!

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