Equipifi partners with Jack Henry to broaden Buy Now Pay Later options for banking institutions
In a significant move to modernise the banking ecosystem, equipifi has partnered with Jack Henry's FinTech Integration Network (FIN). This collaboration aims to bring consumer-centric payment solutions, such as equipifi's Buy Now, Pay Later (BNPL), into the banking sector.
The Jack Henry FinTech Integration Network offers FinTechs direct access to the company's technical resources and test systems. It is designed to take the customer out of the middle of the integration and deployment process, ensuring security, compliance, and operational efficiency. This platform streamlines the process of integrating and deploying FinTech solutions for financial institutions.
Financial institutions using Jack Henry's SilverLake System can now offer state-of-the-art payment flexibility, thanks to the seamless integration of equipifi's BNPL platform through jXchangeTM. The integration architecture safeguards data integrity by mediating all interactions through a managed service layer.
Since the cooperation of equipifi with the Jack Henry FinTech Integration Network, dozens of banks and credit unions in the United States using Jack Henry's SilverLake System and Symitar platforms now have the ability to integrate modern, customer-focused payment solutions like equipifi's BNPL directly into their banking systems.
The partnership also speeds up the time-to-market for financial institutions looking to launch in-house BNPL programs. Bryce Deeney, co-founder and CEO at equipifi, states that offering BNPL as a payment method is essential for financial institutions to stay relevant to consumers.
The inclusion of equipifi in FIN allows financial institutions to seamlessly access third-party innovation. FIN simplifies integration and deployment for FinTechs, making it easier for them to bring their solutions to market.
The expansion of equipifi's BNPL platform to SilverLake System opens it to hundreds more financial institutions, further solidifying its position as a cornerstone capability for institutions modernising checking accounts, debit cards, and mobile banking applications. This collaboration is a significant step towards bridging the gap between traditional banking and modern consumer expectations.
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