Jack Henry™ announced today it is now supporting live transactions on the Federal Reserve's new instant payment rail, the FedNow Service. Jack Henry is among the first service providers supporting transaction activity for financial institutions on the service.

Jack Henry is committed to helping community and regional financial institutions stay on the leading-edge of faster payments. The company's faster payment hub, JHA PayCenter™, connects financial institutions to the FedNow Service as well as the Zelle Network®, which is owned and operated by Early Warning Services, LLC, and the RTP® network, owned and operated by The Clearing House (TCH).

"As a provider for the FedNow Service, Jack Henry demonstrates its dedication to innovation," said Ken Montgomery, Federal Reserve Bank of Boston first vice president and FedNow Service program executive. "Financial institutions benefit from the ability to offer instant payments through the seamless experience offered by service providers and these critical organizations expand the reach of instant payments and pave the way for industrywide progress." 

Jack Henry has more than 80 financial institution customers in various stages of implementation for the new network through the JHA PayCenter payments hub.

"We have been working closely with early adopters to prepare for this launch, and we're uniquely positioned to scale and rapidly integrate diverse banks and credit unions," said Tede Forman, president of Jack Henry Payment Solutions. "We expect to provide hundreds of financial institutions with access to the new network in the next year. Our experience supporting the Fed's development and launch of the network will give our clients the ability to make more confident strategic decisions for their faster payment strategies and use cases."