Springfield, MO

Jack Henry signs new client, enters partnerships

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Monett-based financial industry software firm Jack Henry & Associates Inc. (Nasdaq: JKHY) announced this week a new $1.3 billion credit union client and two partnership deals.

Texas client
In a news release yesterday, Jack Henry announced its Symitar division signed on the Credit Union of Texas, a $1.3 billion system.

The Dallas-based credit union has 13 branches in eight Texas cities. It will use Symitar’s Episys system to provide in-house core processing services.

The Symitar division of Jack Henry has some 800 credit union clients, according to the release.

Strategic partnership
Jack Henry announced Nov. 29 an agreement with Scottsdale, Arizona-based payment solutions provider Early Warning Services LLC to resell the company’s Zelle system.

Zelle allows consumers to more quickly send person-to-person payments to others with a U.S. bank or credit union account. Jack Henry has offered P2P services since 2005 through its iPay platform, and customers using that solution will gain access to Zelle in 2017, according to a news release.

“Adding Zelle to our existing P2P capabilities will allow our clients to give consumers more of what they desire in this type of payment experience,” said Greg Adelson, general manager of Jack Henry’s Payment Solutions Group, in the release.

Through its partnership with Jack Henry, Early Warning Services will be able to distribute Zelle to some 3,000 additional financial institutions. It currently has 19 signed up.

Scholarship deal
Jack Henry entered a deal with Western Governors University Missouri giving its employees a discount on tuition to the online school, according to a news release.

Through the agreement, Jack Henry’s over 2,000 employees can receive a 5 percent tuition discount for up two years for bachelor’s or master’s degrees in business, information technology, education and health care programs. WGU Missouri’s tuition without discounts runs around $6,000 annually for most programs.

The company’s employees also are eligible for up to $2,000 in scholarship money through WGU Missouri, according to the release.

JKHY shares were trading at $85.16 as of 11:04 a.m., compared with a 52-week range of $73.19 to $89.89.

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