Continue to Leverage Technology Solutions to Provide Access to Financial Services for All People
Challenge
Access to user-friendly secure financial services continues to be a critical challenge for banks, credit unions, their customers, and clients.
Actions
- Jack Henry’s co-founders believed business is about people, not numbers – a philosophy we still stand by today.
- The Paycheck Protection Program (PPP) is a loan program that helped small businesses keep their workforce employed during the coronavirus pandemic. Jack Henry viewed PPP as an opportunity to help community-based financial institutions save ‘Main Street’ America, and we developed solutions towards that goal.
- We also worked hard to create solutions that allowed banks and credit unions the opportunity to make banking convenient for all customers – whether it’s ensuring their web content meets Web Content Accessibility Guidelines or that they can access financial information easily regardless of location.
- Our solutions also help financial institutions better support the communities they serve with solutions that empower and educate customers about their personal finances.
Outcomes
- We supported approximately 400 financial institutions with approximately 70,000 loan applications with a total of $6.5 billion requests from small businesses seeking assistance through PPP.
- We helped financial institutions like Bank of Missouri support a major food services business in managing cashflow during the COVID-19 pandemic. Our solutions enabled this bank to help the business pay employees and sustain steady cashflow. This enabled financial institutions to strengthen relationships with small businesses, while getting people the paychecks they needed and keeping these businesses – and our economy – afloat.
- Financial Institutions like Guilford Savings Bank leveraged Jack Henry's PPP lending solution to help businesses during a time of great need. Our solution enabled this bank to process more than double the amount of PPP loans in less time. The added efficiencies also enabled the bank to extend loans to non-customers, supporting its community when other institutions wouldn't or couldn't.
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Having a diverse workforce helps strengthen relationships between our associates and their teams, customers, partners, and the communities we serve. We pledge to listen, share, celebrate, and value diversity and inclusion through actionable programs and resources that help people be their best selves. When we honor our differences and similarities, we all win.