equipifi Enhances Access to BNPL for Banks Through Jack Henry Integration

As financial technology evolves, providing flexible payment options has never been more critical for financial institutions. Recognizing this urgent need, equipifi, a leader in the Buy Now, Pay Later (BNPL) space, has joined the Jack Henry™ Fintech Integration Network (FIN). This strategic move opens new doors for banks, enabling them to offer BNPL services to their customers seamlessly.

What is equipifi?

Founded as the premier BNPL platform for financial institutions in the United States, equipifi allows banks to align their offerings with the purchasing habits, payment preferences, and financial needs of their clients. The platform operates as a white label solution, meaning it can be tailored to suit individual financial institutions while maintaining brand integrity. With its easy integration with leading banking cores and digital banking platforms, equipifi helps deepen customer relationships, expand market share, and boost revenue.

Joining the Fintech Integration Network

By joining the Jack Henry FIN, equipifi is accessing valuable technical resources that will aid in enhancing its BNPL platform. This collaboration will allow equipifi to integrate with the SilverLake System®, significantly increasing the number of financial institutions that can take advantage of its BNPL offerings. This program speeds up the deployment process by enabling banks to launch in-house BNPL programs quickly, improving their digital banking experience and meeting contemporary consumer expectations.

Technical Aspects of the Integration

The integration between equipifi and SilverLake System is facilitated through jXchange™, a set of services-based programming interfaces. This connection allows third-party fintechs and financial organizations to access core data and business rules efficiently and securely. The integrations are designed to preserve data integrity by managing access through a service layer, ensuring consistent and secure data exchange among platforms. As a result, banks can rapidly update their checking accounts, debit cards, and banking apps, thus enhancing overall customer experience.

Relevance of BNPL

With an increasing number of consumers prioritizing flexible payment options, the importance of offering BNPL solutions as a payment method is unquestionable. equipifi's co-founder and CEO, Bryce Deeney, emphasizes that incorporating BNPL is now essential for financial institutions aiming for relevance in today's competitive landscape. Since 2022, equipifi has enabled numerous institutions to quickly implement personalized BNPL programs, allowing for minimal use of internal resources. With the expansion into the SilverLake System, equipifi's platform is set to benefit hundreds more financial institutions, accelerating their journeys toward modernizing financial services and enhancing user engagement.

About Jack Henry

Jack Henry™ (Nasdaq: JKHY) is a robust financial technology provider dedicated to bridging the gap between financial institutions and their clients. The company focuses on openness, cooperation, and user-centric design. With nearly 50 years of experience, Jack Henry has empowered approximately 7,400 clients to innovate, strategically differentiate, and effectively compete in a constantly evolving marketplace.

Conclusion

The collaboration between equipifi and Jack Henry's FIN marks a significant advancement for financial institutions that aspire to offer modern, customer-centered financial solutions. By facilitating easier access to BNPL services, the partnership supports banks in meeting contemporary consumer expectations while driving new revenue streams. Equipped with the right tools and resources, financial institutions are better poised to adapt and thrive in the rapidly changing financial landscape.