Marstone and Jack Henry Collaboration Combines Seamless Access to Digital Wealth and Digital Banking
Marstone, Inc., a leading digital wealth technology firm, today announced its collaboration with Jack Henry™ (Nasdaq: JKHY). The partnership allows bank customers who use Jack Henry's Banno™ digital banking platform to also access Marstone's digital wealth platform via a single sign-on (SSO).
Marstone leveraged the Banno Digital Toolkit™, the same set of APIs the Banno Digital Platform™ is built on, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry's API, design and authenticated frameworks has enabled Marstone to directly integrate into the digital banking platform, providing a seamless banking experience. This integration has contributed to Jack Henry's growing ecosystem of more than 850 fintechs, providing nearly 8,000 financial institutions with relevant financial products and services for their account holders.
"Post-COVID, banks are continuing to turn to digital wealth as a long-term way to engage and retain customers. This trend has been further accelerated by the rising rate environment and the need for banks to have long-term plans to generate fee-based revenue," said Margaret J. Hartigan, co-founder and CEO of Marstone. "In our 10-year history, Marstone's worked with countless multinational banks, credit unions, community banks, and other digital banking providers; we've proven time and again that we are a flexible, committed partner to drive meaningful business value. Working with Jack Henry - and making it easy for their bank customers to adopt our proven digital wealth solutions - enables them to offset their deposit losses, grow their revenue and retain customers."
"Marstone's ease of use is a game changer for banks, who now have customers effortlessly able to access their investments within banks' existing digital banking framework, including their wealth assets at Marstone via SSO," said Christopher LaVine, co-founder and chief strategy officer. "Our work with Jack Henry builds upon their strong capabilities and will help drive continued adoption and engagement within their expanding customer base."
Marstone's partnership is the latest in a stream of continued innovation for the company, including the expansion to community banks like Equity Bank, Amerant, American Bank & Trust, and Bank of Oak Ridge, as well as international growth such as Bancolombia. Introduced last year, Marstone Maps™ has been a game changer for wealth managers, as a fully integrated financial planning tool for institutions where end-clients can set and evolve their financial goals in a playful, shopper-like user experience.
About Jack Henry & Associates, Inc.®
Jack HenryTM (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 more than 47 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 account holders. 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.
Marstone's platform is multilingual and has expanded internationally to support opening US-based accounts for international investors. As a proven and trusted technology partner, Marstone has comprehensive integrations with custodians including Pershing, core banking platforms including Fiserv, account aggregation platforms, and investment managers. These integrations provide organizations the opportunity to deploy a technology that will help future-proof their businesses as consumer expectations for digital wealth management evolve.
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