Jack Henry & Associates Acquires Geezeo

July 1, 2019
Submitted by Ryan Troy on Mon, 07/01/2019 - 13:17

MONETT, Mo., July 1, 2019 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today the company announced the acquisition of Geezeo, a Boston-based provider of retail and business digital financial management solutions.

According to Ron Moses, Vice President of Jack Henry & Associates and General Manager of Consumer and Commercial Solutions, "Consumers and businesses are relying on digital technologies now more than ever, and Jack Henry is committed to ensuring our clients are future-ready with personalized, seamless and appropriately simple digital banking solutions. Geezeo takes personal financial management (PFM) to the next level, using relevant data to create meaningful interactions between financial institutions and accountholders. The result is better control for consumers and businesses over their daily and long-term finances so they can achieve greater financial confidence. We've been strong business partners with Geezeo for years, and we're excited to have them join Jack Henry, bringing their outstanding technology and talent to continue enhancing our digital platform."

Founded in 2006, Geezeo has evolved from a white label PFM provider to a critical fintech partner of financial institutions, core processors, and complementary digital banking solutions. By processing, augmenting and storing millions of transactions, Geezeo now occupies a key role with their clients as a critical data partner. Geezeo's open and user-centric Application Programming Interface (API) allows for flexible integration within most FIs' online and mobile banking environments. By integrating seamlessly and invisibly, financial institutions can maintain their brand's look and feel, creating differentiated digital banking experiences that translate into higher revenue opportunities and increased customer engagement.

Shawn Ward, CEO and co-founder of Geezeo, said, "We've already enjoyed a long relationship with Jack Henry & Associates, so we're thrilled by this acquisition. We look forward to what comes next as Jack Henry continues to build best-in-class digital platforms for financial institutions."

Geezeo's solutions will be sold to Jack Henry's core bank and credit union clients and to the non-core clients supported by its ProfitStars® division.

Geezeo was a privately held company. Terms of the transaction were not disclosed.

About Geezeo

Geezeo is a financial technology (Fintech) firm that enhances the digital banking experience via its white label retail and business digital financial management solutions. Almost 500 financial institutions leverage Geezeo's integrated and unified personal financial management (PFM) solution. Purposely integrated within a financial institution's online banking and mobile platforms, Geezeo helps empower consumers and businesses to gain more financial control, better manage daily and long-term finances and reduce banking friction. To help financial institutions drive the digital shift, Geezeo leverages data within its Engagement Banking Marketing Platform resulting in relevant, data-driven content facilitating interaction between the FI and the online user.

About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The S&P 500 company's solutions serve more than 9,000 customers nationwide and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.

SOURCE Jack Henry & Associates, Inc.

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