We support community and regional banks with the technology ecosystem and support they need to thrive today and in the future.
We help credit unions serve members at their moments of need and on the channel of their choice as their financial lives evolve.
We deliver the insight and technology ecosystem that new banks need – from meeting initial business goals to achieving long-term strategic success.
We help fintechs expand their reach and deliver their innovative solutions to a broader financial ecosystem.
Playing to Win: Helping Financial Institutions Capitalize on Ecosystem Disruption
We are always innovating to help solve for the needs and challenges of people at financial institutions and their accountholders.
Protecting your bottom line starts with empowering the financial health of your consumer and business accountholders.
Competing for business accountholders in today's environment requires a whole new strategy.
Improving productivity and operating efficiencies is an industry-wide goal, challenging financial institutions to transform the way they do business.
There are challenges across the industry impacting financial institutions’ ability to generate and grow traditional sources of revenue.
Effectively managing enterprise risk has become more complex and challenging than ever.
Gain new accountholders and avoid expensive attrition by delivering a stellar experience in a competitive landscape.
Is Your Organization's Financial Health Leaving You Vulnerable and At Risk?
Future of Digital Banking
Read MoreFintech in a Flash: 11 Big Questions to Help You Develop a Modern Payments Strategy
Read MoreSuccess Has a Low Efficiency Ratio
Read MoreInformation Security and Risk Management: Trends and Threats
Read MoreAll-Digital Lending Capabilities | Multiple Loan Types
Read MoreMeet Jack Henry Financial Crimes Defender
Read MoreThe Really Big Small Business Opportunity
Read More6 Tips for How to Improve the Customer & Member Experience (CX)
Read More7 Things to Improve Your Accountholders' Financial Health
Read MoreOur advocacy of community and regional financial institutions is rooted in the belief that the world is better with you in it.
People are at the center of everything we do – and it starts with our associates.
We are always looking for talented professionals to join our team. Explore open opportunities.
Jack Henry has long incorporated a commitment to corporate sustainability into the way we do business. Learn about our priorities.
We are dedicated to our stakeholders and delivering a strong return on investment and long-term sustainability for our business model.
Our Purpose and Mission
The Strategic Case for Financial Health
We support community and regional banks with the technology ecosystem and support they need to thrive today and in the future.
We help credit unions serve members at their moments of need and on the channel of their choice as their financial lives evolve.
We deliver the insight and technology ecosystem that new banks need – from meeting initial business goals to achieving long-term strategic success.
We help fintechs expand their reach and deliver their innovative solutions to a broader financial ecosystem.
Playing to Win: Helping Financial Institutions Capitalize on Ecosystem Disruption
We are always innovating to help solve for the needs and challenges of people at financial institutions and their accountholders.
Protecting your bottom line starts with empowering the financial health of your consumer and business accountholders.
Competing for business accountholders in today's environment requires a whole new strategy.
Improving productivity and operating efficiencies is an industry-wide goal, challenging financial institutions to transform the way they do business.
There are challenges across the industry impacting financial institutions’ ability to generate and grow traditional sources of revenue.
Effectively managing enterprise risk has become more complex and challenging than ever.
Gain new accountholders and avoid expensive attrition by delivering a stellar experience in a competitive landscape.
Is Your Organization's Financial Health Leaving You Vulnerable and At Risk?
Our advocacy of community and regional financial institutions is rooted in the belief that the world is better with you in it.
People are at the center of everything we do – and it starts with our associates.
We are always looking for talented professionals to join our team. Explore open opportunities.
Jack Henry has long incorporated a commitment to corporate sustainability into the way we do business. Learn about our priorities.
We are dedicated to our stakeholders and delivering a strong return on investment and long-term sustainability for our business model.
Our Purpose and Mission
Find everything you may need to support your financial institution.
Stay on top of industry trends with insights from authors who are well-versed on the inner workings of the fintech industry.
The Strategic Case for Financial Health
Future of Digital Banking
Read MoreFintech in a Flash: 11 Big Questions to Help You Develop a Modern Payments Strategy
Read MoreInformation Security and Risk Management: Trends and Threats
Read MoreAll-Digital Lending Capabilities | Multiple Loan Types
Read MoreMeet Jack Henry Financial Crimes Defender
Read MoreThe Really Big Small Business Opportunity
Read More6 Tips for How to Improve the Customer & Member Experience (CX)
Read More7 Things to Improve Your Accountholders' Financial Health
Read MoreThe US banking industry has been a vital part of our nation all the way back to 1780 when the Bank of Pennsylvania was founded by Philadelphia merchants to fund the American Revolutionary War.
Later, merchants in the thirteen colonies needed currency as a medium of exchange and the Bank of North America was opened to address more advanced financial transactions for the new nation.
Banks were also the first stocks traded on the New York Stock Exchange in 1792.
The one key element to the success of the banking industry from 1780 to now is that customers and members trust that their monies are safe and that their transactions will be handled on a timely basis by their financial institutions (FIs).
But unplanned disruptions, which could result in the inability of an FI to provide key services on a timely basis, is a perennial and significant threat. These disruptions are a threat to the trust between FIs and their account holders that has usually taken years to build. If customers and members aren’t able to complete transactions or access their funds in a timely manner, those years of trust-building could disappear in a flash.
That’s where business continuity management (BCM) comes in. BCM is the process in which management develops and implements resilience, continuity, and response capabilities to safeguard employees, account holders, products, and services.
To ensure that banks and credit unions are able to respond and recover operations with effective business continuity plans, the Federal Financial Institutions Examination Council (FFIEC) established business continuity guidelines in 1996. The most recent business continuity management guidelines are in the FFIEC IT Examination Handbook.
Two of the major objectives of the FFIEC BCM guidelines are to provide:
Over the years, these FFIEC guidelines and criteria have evolved. Below is a brief recap of the revisions designed to address changes impacting the financial industry:
Throughout the guidelines’ revisions, the fundamental elements remain the same. However, each revision adds additional elements, and forces FIs to peel the onion even further to demonstrate their level of preparedness.
The recent emphasis to integrate business continuity management into the ERM component is a direct attempt to move business continuity management higher within the strategic planning process. This ensures that the board and executive management recognize the importance of identifying risks associated with unplanned outages and are allocating the proper resources to ensure resiliency. Examiners are increasingly insisting that proof of this integration exists.
All of this introduces a new era for business continuity planning (BCP). Prior to the migration of business continuity planning to business continuity management, BCP was usually addressed as a stand-alone entity and not necessarily integrated into other elements of the Information Security Program that consists of:
At many FIs, these key elements of information security were handled in silos. Each entity would have to identify and assess specific risks within their element. Not only could the assessment process vary between elements, the results and how they were reported to management could vary (i.e. MS Word, spreadsheets, PowerPoint, etc.) Couple this with a lack of integration between the elements and it’s apparent what dangerous consequences siloed, varied processes could have for management’s risk-based decisions and strategies.
Although integrating business continuity management into the enterprise risk management process presents a challenge, it also presents an opportunity for community FIs to take steps toward enhancing their ERM program by instituting the Governance, Risk, and Compliance (GRC) model.
The GRC model has been successfully used for enterprise risk management in many larger FIs. Now, the GRC model is readily available for community FIs that want to improve the way they manage enterprise risk.
But the community FI needs a robust governance, risk, and compliance software platform to leverage the most benefits from the GRC model. The software platform provides total integration and automation of business continuity planning, vendor management, risk assessments, incident response, and audit reporting. The benefits of implementing a GRC platform include but aren’t limited to improved collaboration, notable cost savings, reduction of guesswork and gained efficiencies.
I’ve helped customers develop their business continuity plans for over 30 years, and I’m confident that with the combination of the new business continuity management guidelines and the implementation of a GRC platform, community banks and credit unions can reach and maintain the highest levels of enterprise risk management and business continuity management. And that strengthens their Information Security Program significantly. It’s time to see how a GRC platform can benefit your enterprise risk management program.
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