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 MoreIt’s no small secret: growing deposits is an essential strategic priority for the financial industry. Thirty-five percent of community and regional bank and credit union CEOs identified this strategy as a top focus for the next two years. 1
As credit unions set their sights on deposit growth, the $13.7 billion small- and medium-sized businesses (SMBs) revenue opportunity presents a particularly attractive path forward. 2 According to Forbes, SMBs account for more than 50% of the economy in almost every developed country but are represented by only up to 3% of bank balance sheets – which means there’s a world of prospects open to willing credit unions.
But there’s a catch. The environment for credit unions serving SMBs is currently undergoing profound changes: economic uncertainty, fierce fintech competition, and evolving member expectations.
With economic downturns comes the prospect of loan losses and increased consumer lending risk. Then, fintech giants like Block (Square), PayPal, QuickBooks, and Shopify represent a significant challenge: more than half of small firms are working with these "big fintech" non-banks. This relationship is quietly undermining credit unions' basic transaction accounts, siphoning low-cost business deposits, with just $1 of every $8 received by accountholders through third-party payment tools returning to the primary financial institution, leaving credit unions disconnected from the majority of these payment receipts. 3
In the face of these challenges, your credit union has an opportunity to chart a new course.
By taking advantage of strategic tools and approaches, you can strengthen the support of your SMB members – not just surviving but thriving in this evolving landscape.
As you deal with these market shifts, it's critical to understand the value of strategic alliances and purpose-built solutions. You need to embrace technology that not only addresses the current challenges but propels you into a future where you’re a leader in serving the particular demands of SMBs.
According to research on newer business owners, internet and mobile banking capabilities are now more important than traditional characteristics like location, fees, or product variety. This transition gives you a rare chance to adapt to the specific needs of SMBs and provide a more specialized and relevant portfolio of services.
Expectations are different across the business spectrum. That’s why it’s important to match the right service offering to the right market. To elevate your advantage in the SMB market, start by giving your members exactly what they need – including tools that will help them:
With Banno Business™, you can flip a switch and have your back-office support staff able to offer business-centric features to help SMBs combat fraud, tailor controls, and streamline their financial services needs. What’s more is that features can be added as the business grows. When new employees come on board, SMB owners have the authority to add new digital banking users and grant them access to the financial management features they need to perform their jobs – making the management of entitlements easy and efficient.
There’s no one-size-fits-all approach in the not-so-small business of business banking.
When you take the time to understand your target audience and tailor your offerings accordingly, you’ll not only be meeting the diverse needs of your SMB members – but you’ll be positioning yourself as an indispensable partner in their growth journeys.
Get in touch to learn more about Jack Henry’s business banking solutions so you can start targeting the right markets today.
For more information about Jack Henry, visit jackhenry.com.
sources
1 Jack Henry 2023 Strategic Priorities Benchmark Study.
2 Alex Cardona. What Is An SMB Worth to a Bank? Forbes. Accessed December 15, 2023.
3 Small Business Data Report, Autobooks. Accessed December 18, 2023.
4 The State of Small Business Cybersecurity 2022, Electric. Accessed December 18, 2023.
5 Boss Insights: Empowering Fintechs and Financial Institutions to Service Business Customers. Icon Outlook. Accessed December 18, 2023.
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