US-based fintech company Jack Henry has announced that CommonWealth Central Credit Union selected its services to modernise its technology infrastructure and advance its growth. The partnership with Jack Henry follows CommonWealth’s analysis of its technology platform, in which the credit union identified several limitations in its capabilities and support, as well as third-party integrations posed cost and time complexities.

The financial institution required a provider that could constantly invest in new functionalities and cloud-based architecture. The decision to collaborate with Jack Henry can be attributed to the company’s open approach and commitment to technology modernisation. CommonWealth is not the first financial institution to select Jack Henry for the modernisation of their infrastructure.

Most recently, First Bank of Alabama tapped the company to support its growth and improve customer experiences. The newly integrated system was set to mitigate fragmentation and manual processes, optimising efficiency across the bank’s operations. Modernisation and efficiency As part of this collaboration, Jack Henry aims to provide CommonWealth with its platform, which improves the credit union’s ability to facilitate advancement, modernise operations, and augment member services.

Through this, CommonWealth can solidify its position in the industry and compete with larger financial services providers. When commenting on the announcement, representatives from CommonWealth underlined that Jack Henry’s continuous investment in technology is set to provide the financial institution with the scalable infrastructure required for expansion and delivering banking services and tools that fit its members’ needs, demands, and preferences. Moreover, the move can equip CommonWealth with more functionality and flexibility, allowing it to work with third parties of choice or develop solutions independently.

The credit union intends to launch new products and services for its members, with the platform’s integrations enabling it to also optimise efficiencies for back-office and member-facing employees. Jack Henry highlighted its commitment to service and innovation, constantly investing in improving its platforms and keeping pace with industry trends. Source: Link .