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Symitar Systems (Jack Henry & Associates Inc)

Company Profile Analysis

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Symitar Systems (Jack Henry & Associates Inc) - ICT showcase

Year Founded & Workforce

1976

6,847 Employees

Industry

ICT

Services

Core Banking Solutions
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Symitar Systems (Jack Henry & Associates Inc) Overview

Company Headquarters: United States

Founded: 1976

Workforce: ~6,847

Company Working: Jack Henry & Associates Inc. (JHA) is a company that provides technology solutions and payment processing services. The company provides solutions and services for transaction processing, business process automation, and information management. It provides services under the labels Jack Henry Banking, Symitar, and Profit Stars. In collaboration with respective firms, JHA also sells hardware solutions such as IBM Power Systems, Canon, Epson, Digital Check, and Panini check scanners, and Lenovo, HP, and Dell workstations and servers. It also provides digital products and services via the Banno digital platforms. The organization offers its services through direct sales teams and sales personnel. Jack Henry works with over 1,000 banks and 800 credit unions. In 2014, Jack Henry & Associates’ Symitar division introduced Episys Anywhere, a native app that enables credit union employees to conduct common branch activities on a tablet.

Strategy

Jack Henry's business strategy is to increase sales and earnings through organic expansion and strategic acquisitions. Also, the company focuses on delivering superior functionality to core operating systems to commercial banks and credit unions, as well as supporting on-premises and private cloud delivery settings with identical functionality. Increasing the value of each core client relationship by cross-selling complementary products and services that improve the functionality of our core information processing solution.

Company Snapshot

$1,552.69M

Revenue

6,847

Employees

1976

Founded

United States

Headquarters

SWOT Analysis

Strengths

  • Strong dealer community
  • Strong customer base

Weaknesses

  • Need to expand more outside US

Opportunities

  • Technological advancements in banking sectors

Threats

  • Increasing competition

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Key Developments

DateApproachDevelopment
October 2022Product LaunchJack Henry has established its own person-to-person (P2P) payment solution. The Payrailz Digital Payments Platform, which Jack Henry purchased on September 1, 2022, powers the P2P solution, which is now available for standalone implementation or as a strategic component of the full Payrailz payments platform.
August 2022AcquisitionJack Henry has entered into a final agreement to purchase Payrailz, bringing the company's next-generation digital payment capabilities, including real-time person-to-person (P2P) payments, to Jack Henry's payments ecosystem.
December 2021CollaborationJack Henry collaborated with Envestnet | Yodlee, a premier data aggregation and analytics platform that powers dynamic, cloud-based innovation in digital financial services. The roughly 530 financial institutions that use the Banno Digital Platform may now quickly and simply integrate Envestnet | Yodlee-supported financial wellness apps and experiences into their digital experiences.

Product Offering

  • Symitar Systems (Jack Henry & Associates Inc)
    • Core Banking Solutions

Financial Performance

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales rose from USD 1,552.7 Mn in 2019 to USD 1,942.9 Mn in 2022.
Symitar Systems (Jack Henry & Associates Inc) — By Business Segment
Series (USD Mn)2019202020212022
Sales1,552.71,697.11,758.21,942.9

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