Financial institutions

Jack Henry and Nydig to offer bitcoin services to financial institutions

Jack Henry & Associates, Inc. (NASDAQ:JKHY) today announced that it is working with NYDIG, a leader in bitcoin technology and financial services solutions, to enable financial institutions to make bitcoin more accessible to cardholders. of account.

Many consumers and businesses are turning to their financial institutions to provide bitcoin services, which this relationship will solve. Both retail and corporate accounts will be able to access NYDIG’s buy-sell capabilities through the Banno™ digital platform, with JHA PayCenter™ facilitating payments to and from NYDIG via the RTP® network. Jack Henry’s digital banking platform currently supports regional and community financial institutions in the United States, providing industry-leading capabilities and access to popular third-party applications to more than 7.1 million consumers.

Rahm McDaniel, Head of Banking Solutions at NYDIG, said, “Jack Henry is a key point of access to community financial institutions and Main Street America. Together we combine access to broader financial tools for Jack Henry clients. This relationship marks an important step in making Bitcoin services more accessible to both financial institutions and their account holders. ”

Banks and credit unions can benefit from the opportunities offered by cryptocurrency, such as opening up a new and significant non-interest revenue opportunity, as well as enabling automated savings options , wealth technology and fractional investing for account holders. This relationship enables financial institutions to offer competitive services that meet the needs of today’s consumers and businesses and improve their financial health, thereby establishing their place as trusted providers in their financial lives.

Julie Morlan, Senior Managing Director of Digital Solutions at Jack Henry, said: “It’s important that financial institutions are at the center of financial transactions, and our work with NYDIG is a great example of how we can work together to make that happen. a reality. Our relationship with NYDIG helps more banks and credit unions meet today’s modern payment demands. It supports our mission to empower financial institutions with options and access to a broader financial ecosystem, maintaining status as the premier app for consumer financial needs.