Jack Henry & Associates, Inc. (JHA) is a provider of financial technology solutions and payment processing services, mostly to community banks and credit unions. The company offers transaction processing, business process automation, and information management solutions and services.[2] They assist regional banks and credit unions to control risk, make regulatory filings and add or improve their online banking services.[3]
History
Jack Henry & Associates (commonly referred to as JHA) was formed in 1976 by Jack Henry and Jerry Hall in Monett, Missouri. The company was incorporated in 1977.[4]
On November 20, 1985, an initial public offering made JHA a public company trading 3,125,000 common shares on the NASDAQ exchange under the symbol JKHY. In 1992, JHA began to aggressively acquire companies that expanded its product offering and client base. It acquired Symitar in 2000, establishing its second brand which serves the credit union industry. In 2004, JHA acquired a number of companies and products that can be sold outside JHA's core client base; two years later, in 2006, JHA launched its third primary brand, ProfitStars, to encompass the specialized products and services assembled through its acquisitions.
In its first year of incorporation, the company generated $115,222 in revenue. In 2012, JHA announced $1 billion in annual revenue.[5]
As of 2021, the company had more than 6,800 employees in more than 20 states and was recognized by Forbes as one of America’s "Best Large Employers" for the fourth time.[6]
Corporate structure
Jack Henry & Associates, Inc. operates through three primary brands:
- Jack Henry Banking - a provider of integrated computer systems for banks ranging from de novo to institutions. Jack Henry Banking currently serves approximately 1,000 banks.[7]
- Symitar - a provider of integrated computer systems for credit unions of all sizes. Symitar's product is Quest, a software application used to manage member base and process transactions.[8]
- ProfitStars - a core-agnostic solution provider to banks and credit unions, headquartered in Allen, TX.[9]
Acquisitions
In 2006 JHA launched its ProfitStars brand, to encompass ProfitStar and other related products and services it had acquired over the previous few years, including Select Payment Processing, Inc., Verinex Technologies, Inc., Optinfo, Inc., Synergy, and Tangent Analytics. Since then the company has continued to acquire payment, banking, and finance-related tech companies, including US Banking Alliance, AudioTel Corporation, Gladiator Technology Services, Goldleaf Financial Solutions, Inc., iPay Technologies, Vanguard Software Group, and Payrailz, among others.
References
- ^ "SEC: Jack Henry & Associates, Inc. Reports Full-Year Fiscal 2022 Results" (PDF).
- ^ "Jack Henry and Associates Inc: Overview". www.globaldata.com. Retrieved 2023-12-09.
- ^ "Meet Jack Henry: The Genius Behind Smart Banks". www.forbes.com. Retrieved 2023-12-09.
- ^ "History". www.jackhenry.com. Retrieved 2018-07-09.
- ^ "Jack Henry & Associates - NASDAQOMX".
- ^ "Jack Henry and Associates recognized by Forbes as one of America's Best Large Employers for the fourth time". www.cuinsight.com. Retrieved 2023-12-09.
- ^ "Jack Henry Banking – Learn More About Us & Our Banking Solutions". www.jackhenrybanking.com. Retrieved 2018-07-09.
- ^ "Symitar – Learn More About Us & Our Credit Union Solutions". www.symitar.com. Retrieved 2018-07-09.
- ^ "ProfitStars Overview / About Us".
External links
- Business data for Jack Henry & Associates, Inc.:
