A few years ago, I was running one of my restaurants – Old School NY Pizza in Louisville, KY – and we hit a snag. The large multi-door fridge we used for food storage suddenly died. If you’ve ever worked in food service, you know that’s not just inconvenient, it’s a full-blown emergency. We needed a replacement, fast. The new unit was going to cost $5,000, and I didn’t have a business credit line at the time. So, I did what any scrappy small business owner would do: I gave myself a personal loan.
I wrote a check from my personal account, walked it into the branch, and deposited it into my business account.
It was the slowest, most manual way to move money – and I had to beg the teller to make the funds available that same day. Thankfully, they did. But the stress? Totally avoidable. If I’d had access to Jack Henry™ Rapid Transfers back then, I could’ve moved the money instantly. No branch visit. No check. No waiting.
Just a few taps in my banking app, and I’d be back to selling slices.
Why Banno Financial Institutions Should Enable Jack Henry Rapid Transfers
Here’s the deal: Jack Henry Rapid Transfers is a game-changer; and right now, it’s an exclusive advantage for Jack Henry financial institutions on the Banno Digital Platform™.
If you’re a community bank or credit union using Banno, you’re in a unique position to offer something that most of your competitors can’t. That’s huge. With Jack Henry Rapid Transfers, you can capture deposits that would otherwise sit idle in fintech wallets. It positions your institution as the central hub for your accountholders’ financial lives. And it’s not just about convenience – it’s about stickiness.
When your accountholders can move money quickly and easily, they’re more likely to keep their accounts active, engaged, and growing.
And here’s the kicker: there’s zero risk to your financial institution. Because of Moov™, your financial institution is protected via two-factor authentication, account name inquiry, and network-wide transaction monitoring. Your accountholders can trust that their money is moving safely.
Plus, you’re backed by trusted partners: Visa® Direct and Mastercard® Send. These are established, vetted organizations that make your internal due diligence a breeze.
How to Quickly Enable Rapid Transfers in Banno
I know what you’re thinking: “This sounds great, but what’s the catch?”
There isn’t one. Jack Henry Rapid Transfers is already embedded in the Banno Digital Platform. The user experience is polished and user-ready. There’s no complex integration, no heavy lift. You just flip the switch.
Seriously.
If you’re a Banno financial institution, you can start offering Jack Henry Rapid Transfers almost immediately. It’s one of the easiest ways to add value to your digital banking experience – and your accountholders will thank you for it.
Strategic Benefits of Rapid Transfers for Community Financial Institutions
This isn’t just about money movement.
It’s about meeting your accountholders where they are. People expect speed. They expect flexibility. They expect their financial institution to work like their favorite app. Rapid Transfers delivers on all of that – and more. It also future-proofs your payments infrastructure. With support for RTP® and FedNow®, you’re not just solving today’s problems, you’re preparing for tomorrow’s opportunities. And while those rails are great, they’re not always available at every financial institution. Jack Henry Rapid Transfers, on the other hand, works with any account that has a debit card.
That’s a level of ubiquity that RTP and FedNow just can’t match.
And let’s talk competitive differentiation: if you’re a community financial institution, you’re probably not just competing with the bank or credit union across the street. You’re up against fintechs, big banks, and digital-first challengers. Jack Henry Rapid Transfers gives you a leg up. It’s fast, secure, and seamless, and it’s something you can offer today.
Jack Henry Rapid Transfers Simplify Business and Personal Account Moves
Here’s a use case we didn’t even see coming: internal transfers between business and personal accounts at the same bank.
We launched Jack Henry Rapid Transfers thinking it would be all about external account-to-account movement – sending money from your checking account to your account at another financial institution. Turns out, our users had other ideas … One of the first people to try it out connected their own business and personal accounts at the same bank and used Jack Henry Rapid Transfers to move money between them instantly. Then another user did it. And another.
Why? Because in most financial institutions, business and retail accounts run on separate systems.
That means accountholders often can’t move money between them without friction: think remote check deposits, branch visits, or awkward workarounds. Jack Henry Rapid Transfers solved that problem. Not through a massive core integration project, but through a simple use case that emerged organically by real world needs. It’s a perfect example of what happens when you give people the right tools and let them play.
They’ll show you what they really need and how your platform can deliver it.
Why Your FI Should Enable Rapid Transfers Today
If you’re a Banno financial institution and you haven’t enabled Jack Henry Rapid Transfers yet, what are you waiting for?
There’s no cost. No risk. No downside. Just a better experience for your accountholders and a strategic win for your financial institution.
And hey, if you’re ever in Louisville, stop by Old School NY Pizza. We’ll talk fintech over a slice.
Ready to Get Started?
Learn more about Jack Henry Rapid Transfers and how to enroll via the Banno Digital Platform.
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