Three de novo banks in US select Jack Henry’s tech

Jack Henry & Associates, a US-based banking technology heavyweight, has added three new clients: Bank of Burlington, RockPoint Bank, and Moultrie Bank & Trust.

Three start-up banks in the US select Jack Henry’s tech

All three are start-up community banks and have opted for a broad suite of front-to-back office solutions from Jack Henry, including the Symitar core, Banno Digital Platform for digital channels, and LoanVantage lendtech.

Bank of Burlington is a new commercial bank in the US state of Vermont.

“We had a clear strategy for the fintechs that would fit best into our technology plan and began by asking them which core provider they could best integrate with. Jack Henry was the resounding leader,” says Geoffrey Hesslink, president of Bank of Burlington.

“Personally, I had a great experience working with Jack Henry in my previous role at a larger bank; I was pleased to see that the experience is the same for a de novo institution,” Hesslink adds. He previously spent over two decades with another Vermont-based bank, Merchants Bank, which merged with Community Bank in 2017.

Tennessee-based RockPoint Bank was launched in March 2021. It surpassed $100 million in assets in the first nine months of operations.

“We chose Jack Henry because we needed digital capabilities that would make us stand out and compete directly with regional banks in our market,” comments Hamp Johnston, the bank’s president and CEO. Among the benefits for end-users, Johnston highlights the system’s interface to faster payment networks and to Autobooks, a payments and accounting platform for businesses.

Moultrie Bank & Trust is a de novo bank in Georgia. President and CEO Donna Lott says Jack Henry “lifts the burden of technology capabilities, regulations and compliance demands”.

Stacey Zengel, president of Jack Henry Banking, says de novo banks “are vital to keeping local banking options alive, which fuels Main Street America”.

“Consolidation in the industry and competition from non-traditional banks are evolving the landscape and blurring the lines between traditional and digital services,” Zengel continues.

“We’re here to make sure that these new financial institutions are equipped with the best technology options to meet their business needs – whether that be from Jack Henry or another fintech of their choice.”

The vendor says it has already integrated more than 850 fintechs into its ecosystem and is the only platform provider with relationships with all four major financial data aggregators.