Raisin U.S. Joins the Jack Henry Banking Vendor Integration Program

VIP enables Raisin DS to integrate its Savings as a Service software with Silverlake and other Jack Henry core systems

Goldman Sachs-backed fintech Raisin U.S., a member of the Raisin DS group, today announced that it has successfully completed readiness testing as part of the Jack Henry Banking® Vendor Integration Program (VIP) and its solution has now moved to Pending Beta status, enabling the fintech’s unique Savings as a Service software to integrate with the Jack Henry & Associates, Inc. ® (“Jack Henry”) Silverlake and other core systems.

Jack Henry’s Vendor Integration Program (“VIP”) is designed to help ensure that Jack Henry Banking’s customers can easily deploy third-party products, such as the Raisin U.S. Savings as a Service software by integrating with Silverlake and other JHA core systems via jXchange™, a services-based programming interface that enables third-party vendors and banks to access the platform’s core data and business rules. The integrity of data is maintained throughout any data exchange, because access to business rules and data is managed through a service layer that governs these interactions

Raisin U.S.’s original software lets banks deliver cost-effective and competitive time deposit solutions to their customers, with a wide range of unique features from market-linked to ladder to flexible liquidity – as well as combinations of the same. If desired, banks can allow these same solutions to be dynamically parameterized with no operational impact thanks to the solution’s end-to-end automation. As a result, the bank’s clients can obtain access to savings solutions that truly address their personal needs and situation.

Raisin Technology CEO Daniel Smith explains: “By enabling banks to deliver time deposits with unique features for their customers and with no operational overhead, the Raisin U.S. Savings as a Service software offers an exclusive fully automated private banking experience to all bank clients. At a time when many banks continue to face excess liquidity as well as online competition, they need to compete for stable funding on value, rather than on rate alone. The solution Raisin U.S. has brought to market allows them to do exactly that, attract and retain stable, cost-effective funding, and we are delighted to extend our integration capabilities with Jack Henry’s VIP via jXchangeTM.”

Jack Henry’s VIP takes the customer out of the middle, providing vendors with direct access to Jack Henry’s technical resources and test systems. Jack Henry’s VIP inclusion is not an endorsement of the vendor’s product.

 

About Jack Henry Banking

Jack Henry Banking®, a division of Jack Henry & Associates, Inc.®, is a leading provider of integrated computer systems for banks ranging from de novo to multi-billion-dollar institutions. Jack Henry Banking currently serves more than 1,000 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.

 

About Jack Henry & Associates, Inc.

Jack Henry (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in cloud-based digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.

 

About Raisin DS

Raisin DS is a trailblazer for open banking in the deposits and investments space, with B2C platforms across Europe as well as in the U.S. under the brand SaveBetter. Launched in 2020, Raisin U.S. introduced the first product innovation to the U.S. deposits space in generations. Raisin DS provides an open banking infrastructure for the world’s $50+ trillion deposit market that benefits banks and consumers alike. For savers, it means more product choice and decision power. Customer-facing institutions like banks benefit from best-in-class savings marketplace solutions for their own customers, and deposit-taking banks receive better access to deposit funding. Now servicing over 550,000 direct customers in partnership with ca. 400 financial institutions, the company is backed by renowned investors such as Goldman Sachs, Deutsche Bank, Index Ventures, PayPal Ventures, Greycroft, Headline/e.ventures, Thrive Capital, Top Tier Capital Partners, Ribbit Capital, and Vitruvian Partners. Raisin DS was formed by a merger of German FinTech companies Deposit Solutions and Raisin in June 2021.