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Jack Henry Introduces MyFinancialHealth

Jack Henry™ (Nasdaq: JKHY) has officially launched a new feature called MyFinancialHealth, aimed at enhancing the digital banking experience for its users. This innovative suite of tools is now available for more than 1,000 banks and credit unions via the Banno Digital Platform™, thanks to a partnership with Array. This groundbreaking initiative focuses on providing a comprehensive approach to financial health and engagement for accountholders.

The new MyFinancialHealth features an array of services designed to empower users in managing their financial well-being. Among the highlights are credit monitoring, identity protection, and privacy tools. Additionally, it assists users in keeping track of their online subscriptions and managing federal student loans – all accessible from a single platform.

One of the standout aspects of MyFinancialHealth is its configurable free-to-premium model. Financial institutions can offer essential features at no cost to their customers while also providing optional paid upgrades for users seeking enhanced protection and control over their financial data. This model eliminates the need for APIs or complicated onboarding, making activation straightforward for banks and credit unions.

The launch aligns perfectly with Jack Henry's commitment to deepening the relationship between consumers and their primary financial institutions. By integrating third-party solutions seamlessly, Jack Henry aims to reduce financial fragmentation and enhance digital engagement, effectively positioning financial institutions as central hubs in their clients’ financial lives.

John Symcox, the senior vice president and chief innovation officer at First Fidelity Bank—an early adopter of the MyFinancialHealth suite—shared insights into the importance of adopting such features. "Providing better financial health tools to customers is invaluable. While credit data and monitoring serve as a foundation, adding layers like identity protection and subscription management culminates in a full-service banking experience. This offers our clients a one-stop destination for all their financial needs,” said Symcox.

Furthermore, Array has reported that its users typically engage with its tools approximately 2.2 times each month, with many opting for premium offerings that enhance convenience and security. Financial institutions can choose to provide core tools without charge while leveraging new revenue streams through optional upgrades, which could include features like subscription cancellation or data broker removal.

"Surveys consistently show that our customers want uncomplicated access to their financial data and educational resources. They’re willing to invest in added value,” noted Symcox. "Jack Henry’s embedded model allows us to provide insights and competitive subscriptions for cost-saving tools and enhanced identity protection services—essentially creating a Netflix-like model for financial tools. Customers can opt in whenever they need more support, ensuring we are prepared to assist them during financial shifts."

The groundwork for MyFinancialHealth was laid three years ago when Array first utilized Jack Henry's Digital Toolkit to bring credit tools to the market. Now, this expansion represents Array's strategy to enable financial institutions to provide top-tier capabilities with minimal effort. This initiative helps banks and credit unions stand out by offering exceptional user experiences alongside data-driven insights.

Erica Pilon, head of corporate strategy at Jack Henry, emphasized the value that personal features from Array provide: “This expansion benefits everyone. Accountholders gain better control and insights, while financial institutions strengthen their digital proffer with protective and strategically relevant tools. It underscores the connection we strive for every day at Jack Henry.”

In conclusion, the launch of MyFinancialHealth signifies a significant step forward in how financial institutions can interact and engage with users. With the capacity to offer valuable tools at their fingertips, consumers can take charge of their financial health more effectively, ensuring that their financial institutions remain an integral part of their lives.

About Jack Henry Associates, Inc.®
Jack Henry™ (Nasdaq JKHY) emphasizes openness and collaboration within the financial sector. With nearly 50 years of experience, the company provides technology solutions that enable clients to innovate swiftly, create differentiation, and meet evolving customer needs. They serve approximately 7,500 clients, aiming to reduce barriers to financial health through user-centric innovation and personal service. More information about Jack Henry can be found at jackhenry.com.