Jack Henry Financial Crimes Defender™ Named Best Fraud Prevention Platform in 2024 FinTech Breakthrough Awards Program

MONETT, Mo., March 14, 2024 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) today announced that Financial Crimes Defender™ has been selected as winner of the Best Fraud Prevention Platform award in the eighth annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in the global FinTech market today.

Jack Henry Financial Crimes Defender uses advanced Artificial Intelligence (AI) and behavioral analytics to proactively identify new fraud and bank secrecy act (BSA) trends in real-time including those involving checks, deposits, transfers, ACH transactions, and instant payments. It is built on a scalable cloud architecture with an intuitive user interface and analytics to reduce false positives. By automating repetitive tasks, Financial Crimes Defender reduces manual work in investigations.

"Financial Crimes Defender solves the fundamental problem for banks and credit unions – management of financial crime risk through proactive and automated detection," said Steve Johansson, Managing Director, FinTech Breakthrough. "We're thrilled to recognize Financial Crimes Defender as 2024's Best Fraud Prevention Platform. By bundling fraud and AML solutions, financial institutions of all sizes can make faster, more informed decisions, minimize false positives and wasted resources, and improve operational efficiency."

The breakthrough platform's proactive approach to anomaly detection breaks down fraud silos based on transaction types. This brings different types of transactions together to mitigate how fraud and money-laundering actors use multi-channel approaches to deceive financial institutions and accountholders.

"Jack Henry Financial Crimes Defender is part of our technology modernization strategy which is focused on delivering cloud-native solutions that help banks and credit unions innovate faster, differentiate strategically, and meet the evolving needs of their account holders," said Greg Adelson, President and COO of Jack Henry. "We're honored to be recognized by FinTech Breakthrough. With Financial Crimes Defender, not only can financial institutions stay ahead of the latest fraud trends, but they can also finally automate fraud processes to reduce manual work."

The FinTech Breakthrough Awards is the premier awards program founded to recognize the fintech innovators, leaders and visionaries from around the world in a range of categories, including digital banking, personal finance, lending, payments, investments, and more.

About Jack Henry & Associates, Inc.^®

Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 47 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.

About FinTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.

Statements made in this news release that are not historical facts are "forward-looking statements." Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the Company's Securities and Exchange Commission filings, including the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Any forward-looking statement made in this news release speaks only as of the date of the news release, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.