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.
We empower businesses to expedite payments processing, improve cash flow, and manage financials with industry-leading technology.
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.
We empower businesses to expedite payments processing, improve cash flow, and manage financials with industry-leading technology.
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 MoreCommunity and regional banks and credit unions have created strong accountholder loyalty for decades, based on service, trust, and relationships. They’ve handled everything from a child’s first passbook account to a teen’s first checking account. It wasn’t uncommon for a long-term banker to follow a customer or member through major life milestones – whether it was applying for their first car loan, first mortgage, or maintaining a retirement account.
But as times have changed and the reality of a consumer being an “accountholder for life” grows more fleeting, many financial institutions have had to reexamine their strategy for attracting and retaining accountholders. That reflection has led many banks and credit unions – including megabanks – to create a life stage marketing and product strategy based on consumers’ relatively predictable financial needs as they transition from one life stage to the next.
Many businesses also follow a similarly predictable life cycle of financial needs, yet banks and credit unions haven’t fully adopted a life stage marketing and product strategy for their business customers. Microbusinesses and solopreneurs, for example, need easy ways to accept payments and handle invoicing and accounts receivable before they eventually grow into full-fledged small businesses with early funding and payroll needs. Mid-sized companies require cash management and additional funding to continue scaling their businesses or to enable a physical presence. And large commercial enterprises need a full suite of treasury management and commercial borrowing capabilities as their revenues, financial models, and business complexities continue to grow.
Currently, there’s a gap between what business accountholders want and what their financial institutions are providing, so the need for banks and credit unions to address this gap is both timely and real.
Small-to-medium businesses (SMBs) with fewer than 20 employees account for 98% of all businesses in the United States, and nearly 5.4 million applications were filed to form new businesses in 2021 – the most of any year on record. With so many new businesses forming on a daily basis, there’s a distinct opportunity for the traditional financial services sector to effectively serve these new business relationships, especially in light of an analysis showing that 13% to 35% of all dollars in retail demand deposit accounts (DDAs) actually belong to micro and small businesses.
When you combine all of that with the fact that 67% of SMBs use one of the top six business platforms to manage their finances in conjunction with – or in place of – traditional banking services, it’s no surprise that 47% of bank and credit union executives see fintech companies like PayPal and Square (Block) as a significant threat in the coming decade.
Why are microbusinesses and SMBs turning to fintechs to meet their early financial needs rather than using their primary financial services provider? Because retail bank accounts – the vehicles used by many small businesses in their early days – are transactional by nature and are limited in scope. Retail bank accounts can be used to pay bills and safely store business revenues, but rarely are they equipped to send invoices or receive payments without the help of a third-party fintech. Compared to fintech business platforms that enable invoicing, marketing, POS capabilities, budgeting, and even assistance with taxes, traditional retail bank accounts are a poor fit for newer businesses, although the price is right.
On the other hand, traditional cash management and ancillary merchant services offered by banks can fill the functionality gap, but they’re often too expensive and so feature-heavy that they’re a big operational lift for the business owner. SMBs going this route often pay for more than they need: common cash management features like wire transfers and even ACH payments are the feature-rich portion of the platform, but the business must still seek a third-party partner to help with essential functions like budgeting and payment acceptance.
That’s why business platforms like QuickBooks, Stripe, and Shopify have become a preferred provider of financial service needs for SMBs: their platforms handle the transactional needs of the business while also providing the services a small business seeks with the ability to scale services effectively as the business grows.
These platforms aren’t perfect, however. To mitigate risk for the fintech, small business payments processed through business platforms can be delayed for more than a week before finally being released to the business. And at a time in the life cycle of the business when managing cash flow can be tricky in the best of times, this delay can be painful or can even slow business growth.
For banks and credit unions, this creates opportunity. Financial institutions that intentionally develop a business strategy and banking platform that seamlessly scales with the relatively predictable life stages of the businesses they serve can position themselves to win. But only if they take the time to create an intentional life stage marketing strategy that follows a business from its early days of being run out of a retail bank account all the way through its potential growth into a commercial entity.
It’s a tall order, but there are relatively easy, concrete tasks that can get banks and credit unions started on their transformation. For example, embedding basic invoicing and receivables capabilities into digital banking offerings through Autobooks can help accommodate those microbusinesses and solopreneurs that manage their finances on the go, after hours, or from their proverbial garage.
Seek digital banking solutions capable of scaling with the business. Utilize a single platform that can grow with the business by unlocking new and more sophisticated functionality when the timing is right. And take an enterprise-wide look at how deposit, lending, investment, digital, and advisory services can be pooled and bundled to close an existing service gap while simultaneously creating a path to help business customers navigate their unique financial challenges and needs at each new life stage.
Thoughtfully creating this bridge will allow banks and credit unions to provide greater support to the businesses – both large and small – that are the lifeblood of their communities, while developing new relationships and revenue sources for their institutions. With literally hundreds of new businesses forming daily, the time to start is now. That first passbook savings account customer could be the next entrepreneur!
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