This year’s Jack Henry Connect was a remarkable event that captured the spirit of community banking while embracing the continuously shifting world of technology.
The theme, “Embracing Humanity in the Age of AI,” resonated deeply throughout the conference, underscoring how technology can enhance our human qualities rather than replace them. Here are five standout moments that you, as community and regional banks and credit unions, can take with you as we shape the future together.
As we dive deeper into the world of AI, it’s easy to feel overwhelmed.
However, Jack Henry’s leadership emphasized that AI should serve to enrich our lives. Greg Adelson, President and CEO of Jack Henry, reminded us that technology should be used to foster authenticity and empathy. This perspective invites you to think of AI as a tool that can help your organization focus on building meaningful connections with your accountholders, helping them feel valued and understood.
Everything we develop at Jack Henry, including advancements in AI, is centered around one goal: serving you so you can serve your accountholders.
“Our focus is serving community and regional financial institutions only,” Greg emphasized. “As Dave [Foss] used to say, we don’t have a plan B. We believe that we are in business to make you successful. You’re not in business to make us successful. That’s something we drive home with our teams each and every single day.”
The atmosphere at Jack Henry Connect was electric, filled with enthusiasm and a sense of belonging.
Attendees were eager to share ideas, connect with peers, and explore the latest groundbreaking approaches. Many expressed excitement about the future of the Jack Henry Platform™ and how it could simplify their operations. It’s clear that the community spirit is alive and well at Jack Henry, and it’s something people are eager to take part in. Attending the conference not only keeps you informed – but also gives you a chance to connect with others who share your passion for enhancing financial services and helping accountholders achieve their financial goals.
During a dedicated session focused on the Jack Henry Platform, Mackenzie Kizer, Senior Managing Director at Jack Henry, emphasized that the platform represents a journey of continuous improvement.
“The entire platform concept is about delivering functionality that’s nameless,” explained panelist Gary Lewis, fellow Senior Managing Director at Jack Henry. “It’s not a specific product name; it’s not tied to a specific silo of functionality. It’s functionality that can be utilized all across Jack Henry. This concept has blossomed all across the organization.”
This comprehensive, cloud-native technology solution allows community banks and credit unions to modernize operations seamlessly by integrating various services. It empowers you to enhance the digital front door experience for your accountholders, making it easier to adapt to their changing needs.
Imagine being able to respond to transactions in real time. This approach would boost security and satisfaction among your accountholders, positioning you to thrive in a rapidly evolving landscape.
In its inaugural year, the Cobalt Awards celebrated outstanding achievements in financial services, honoring organizations dedicated to innovation and community impact. The winners – revealed on the Main Stage at the conference – included:
The Barrier Breaker Award:
The Changemaker Award:
The Integrator Award:
Hopefully, these stories inspire you to push boundaries within your own organization. They remind us that excellence is possible when we are dedicated to serving our communities.
Discover the pioneering strategies and creative brilliance that sets these award winners apart from the rest in these case studies. (By the way, next year’s submissions are scheduled to open spring of 2025.)
The announcement of the collaboration with Moov is particularly exciting for our community banks and credit unions.
This new cloud-native service will allow small- to medium-sized businesses (SMBs) to accept payments effortlessly and receive funds the same day. In a recent press release, Wade Arnold, co-founder of Moov, said the digital payments solution will enhance the ability for community and regional financial institutions to serve (and simplify the experience for) small business accountholders.
"We look forward to working with Jack Henry to modernize payments for SMBs through community and regional financial institutions," Arnold said. "This solution will provide many benefits to SMBs, including one-click enrollment, automated itemized transaction processing and reconciliation, instant balance transfers from linked accounts to cover same-day transaction needs, and an integrated payment relationship with the financial institution."
Think about the potential to capture higher SMB deposits: in 2023, the SMB market was valued at $370 billion. As 78% of financial institutions plan to expand services for SMBs, including payments and merchant services, your ability to offer streamlined solutions could be key to capturing more deposits and strengthening SMB relationships.
This approach with Moov opens doors for you to serve your accountholders better and position yourself as a trusted financial partner.
As we wrap up this year’s incredible event, I hope you’ll save the date for 2025. We’ll be in sunny San Diego, California September 8 – 11. This is your opportunity to dive deeper into the topics that matter to you, network with industry experts and Jack Henry leaders, and discover revolutionary ideas to drive your organization forward.
In the spirit of connection, we want to keep this conversation going. Keep an eye out for our next Jack Henry Connect blog, where we’ll share even more insights from this year's event.
Jack Henry Connect 2024 was more than just a conference … it was a celebration of what makes community banking special. It reminded us that together, we can create meaningful change and navigate the complexities of the financial landscape.
Kindly,
Your Conference Correspondent
(Keeping You Current on Everything #JHConnect)
Stay up to date with the latest people-inspired innovation at Jack Henry.
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