Jack Henry and NYDIG to offer bitcoin services to financial institutions

By Edlyn Cardoza

Jack Henry & Associates, Inc. recently announced that it’s working with NYDIG, a leader in bitcoin technology and financial services solutions, to enable financial institutions to make bitcoin more accessible to account holders.

Many consumers and businesses are looking to their financial institutions to provide bitcoin services, which this relationship will solve. Consumer and business accounts will access NYDIG’s buy-hold-sell capabilities through the Banno Digital Platform™, with JHA PayCenter™ facilitating payments to and from NYDIG over the RTP^® network. Jack Henry’s digital banking platform currently supports regional and community financial institutions in the U.S., offering leading capabilities and access to popular third-party apps to more than 7.1 million consumers.

Rahm McDaniel, Head of Banking Solutions at NYDIG, said, “Jack Henry is a key access point to community financial institutions and Main Street America. Together, we are bridging access to broader financial tools for Jack Henry customers. This relationship marks an important step toward making bitcoin services more obtainable for both financial institutions and their accountholders.”

Banks and credit unions can benefit from the opportunities cryptocurrency presents, such as opening a new and significant non-interest income opportunity and enabling automated savings, wealth-tech, and fractional-investing options for account holders. This relationship enables financial institutions to offer competitive services that meet the needs of today’s consumers and businesses and improve their financial health, further establishing their place as trusted providers in their financial lives.

Julie Morlan, senior managing director of digital solutions at Jack Henry, said, “It’s important for financial institutions to be at the center of financial transactions, and our work with NYDIG is a great example of how we can collaborate to make this a reality. Our relationship with NYDIG helps more banks and credit unions meet today’s modern payment demands. It supports our mission of equipping financial institutions with optionality and access to a broader financial ecosystem, maintaining first-app status for consumers’ financial needs.”