Jack Henry & Associates said that 20 credit unions joined the client list at JHA Payment Processing Solutions in the Monett, Mo., company’s recently ended fiscal year.
Nineteen of those credit unions replaced a competitor’s ATM, debit or card processing solution while one launched a new card program, the company said.
"We wanted something in-house, live, and in real-time that did not require updates on more than one database,” said new PPS platform user Travis Frey, vice president of IT, support and lending at the $156 million Tobyhanna FCU in Scranton, Pa. “We no longer need to rely on a third-party for reporting. Since everything is now 'just a loan' and 'just a card,' we are able to create on-demand programs as well as customer reports to automate and create efficiencies across the board.”
JHA said it sells its PPS solutions to financial institutions regardless of core processing platform and cross sells them to credit unions running Symitar core platforms. There are 266 credit unions now using PPS services, the company said.