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Abound Credit Union Invests in Technology Modernization with Jack Henry

1. Abound Credit Union selects Jack Henry's Symitar for modernization efforts. 2. The credit union serves over 130,000 members across Kentucky. 3. Jack Henry's solutions enhance personalized, secure banking experiences. 4. The partnership aims to cater to younger generations' needs. 5. Abound to leverage Jack Henry's cloud-native platforms for growth.

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Why Bullish?

The adoption of Jack Henry’s solutions by Abound Credit Union suggests increased customer retention and potential revenue growth, reflecting similar past partnerships that have driven stock appreciation.

How important is it?

This update showcases the growing adoption of Jack Henry's technology, which may lead to further customer acquisitions and service enhancements, boosting overall market confidence.

Why Long Term?

The long-term impact stems from the strategic positioning of Jack Henry in adapting to evolving fintech needs, as evidenced by past performance in partnerships that enhance service offerings.

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Credit union prioritizes collaboration to prepare for the future and improve the lives of Kentuckians , /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today that Abound Credit Union has selected the Symitar® core platform and its complementary cloud-based solutions to modernize the banking experience for its more than 130,000 members across Kentucky. Founded 75 years ago as a small institution serving 10 Fort Knox employees, Abound Credit Union has grown to $2.4 billion in assets and is now a pillar of southern and central Kentucky communities. The credit union found it increasingly challenging to keep up with members' needs and attract younger generations with its legacy technology and workarounds. It needed a future-ready, flexible technology platform that would support growth without sacrificing the brand's personal connections. Jack Henry's open, cloud-native platform gives Abound a technology foundation that can support the credit union in its next chapter. "Jack Henry understands our vision and what it takes to cater to our members' diverse financial situations," said Ray Springsteen, CEO at Abound Credit Union. "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." Abound will leverage many of Jack Henry's complementary integrated solutions to deliver a more personalized, secure, and convenient experience. For example, Jack Henry Data Hub™ will provide real-time member insights, the Banno Digital Platform™ offers an intuitive digital experience, and the Banno Digital Toolkit™ allows for easy customization and smooth integration with third-party providers. Jack Henry's business banking, payments, lending, and financial crimes solutions also will enhance the credit union's offerings. "Our technology modernization strategy is designed to empower institutions like Abound to embrace change, drive their own innovation, and deliver value to every member," said Brynn Ammon, President of Credit Union Solutions at Jack Henry. "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 honored to help them build a resilient technology plan that will support their growth and further deepen their impact in Kentucky." 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 nearly 50 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. SOURCE Jack Henry & Associates, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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