Abound Credit Union has implemented Jack Henry’s Symitar core platform and cloud-based solutions to enhance the banking experience for its 130,000 members in Kentucky.
Jack Henry is a financial technology company providing innovative solutions to financial institutions for nearly 50 years.
The move is part of the credit union’s strategy to modernise its services and appeal to younger generations, addressing challenges posed by outdated technology.
Abound Credit Union CEO Ray Springsteen said: “Jack Henry understands our vision and what it takes to cater to our members’ diverse financial situations.
“Its open platform seamlessly integrates third-party solutions, enabling members to have the financial services they rely on, while easily adding new capabilities as needs change.
“This empowers us to focus our resources on serving Kentuckians for the next 75 years and beyond.”
Founded 75 years ago, Abound Credit Union has grown from serving 10 Fort Knox employees to managing $2.4bn in assets.
As a key financial institution in southern and central Kentucky, the credit union aims to maintain its personal connections while adopting a future-ready technology platform.
Jack Henry’s open, cloud-native platform is expected to support Abound’s growth and technological needs.
Abound will leverage Jack Henry’s integrated solutions to offer a more personalised, secure, and convenient member experience, along with its real-time insights.
The Jack Henry Data Hub will provide its Banno Digital Platform to enhance digital interactions, and the Banno Digital Toolkit for customisation and third-party integration.
In addition, Jack Henry will offer its business banking, payments, lending, and financial crime solutions to further improve the credit union’s services.
Jack Henry supports around 7,500 clients, offering a range of modern capabilities and integration options with leading fintechs, allowing clients to innovate and compete effectively.
Jack Henry credit union solutions president Brynn Ammon said: “Our technology modernisation strategy is designed to empower institutions like Abound to embrace change, drive their own innovation, and deliver value to every member.
“The credit union is leveraging our foundation to create its own banking experience, one that rewards and brings value to a diverse member base.
“We’re honoured to help them build a resilient technology plan that will support their growth and further deepen their impact in Kentucky.”
Last month, Boost.ai partnered with Jack Henry to implement conversational artificial intelligence (AI) across the latter’s network of banks and credit unions in the US.
