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Jack Henry & Associates, Clearing House partners to grow real-time payments.

BANKING AND CREDIT NEWS-March 11, 2016-Jack Henry & Associates, Clearing House partners to grow real-time payments

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Jack Henry & Associates, Inc.'s (NASDAQ: JKHY) JHA Payment Solutions group has partnered with The Clearing House (TCH) to expand the scope of US financial institutions, equipping them to send and receive new real-time transactions, the company said.

The Clearing House is currently working to build a new real-time payment system, which TCH will own and operate. In partnering with JHA Payment Solutions, TCH will greatly expand the new system's reach and advance the goal of real-time payment ubiquity--a desired outcome the Federal Reserve has identified for an enhanced US payments system.

A key attribute of JHA Payment Solutions' faster payments strategy is to ensure that financial institutions have access to new payment platforms that will allow them to offer innovative products to their customers. Collaborating with TCH expands JHA Payment Solutions' modernization initiatives across its network of more than 6,300 diverse banks and credit unions.

The Clearing House is a banking association and payments company that is owned by the largest commercial banks and dates back to 1853. The Clearing House Payments Company L.L.C. owns and operates core payments system infrastructure in the United States and is currently working to modernize that infrastructure by building a new real-time payment system.

Jack Henry & Associates, Inc. is a provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve almost 10,800 customers nationwide, and are marketed and supported through three primary brands: Jack Henry Banking, Symitar and ProfitStars.

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Publication:M2 Banking & Credit News (BCN)
Date:Mar 11, 2016
Words:281
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