New awards celebrate innovation, community dedication, and commitment to financial freedom

Jack Henry™ (Nasdaq: JKHY) is pleased to announce the recipients of its inaugural Cobalt Awards.

Launched earlier this year, the annual awards recognize financial institutions and fintechs that are dedicated to their communities, passionate about innovation, and relentless in helping accountholders improve their financial health.

The 2024 Cobalt Award recipients were revealed on October 8 from the main stage at Jack Henry Connect in Phoenix, Arizona. The winners are:

• The Barrier Breaker: This award honors one bank and one credit union that have made significant strides in breaking down barriers to financial health for their accountholders.

  • BankPlus – Utilized Synergy® and Jack Henry's Account Modification service to enhance its CreditPlus program, resulting in $6.29 million in deposits.

  • Fibre Federal Credit Union – Leveraged Symitar® to optimize its share certificate program, achieving a 3,451% increase in balances over the previous 12 months in just one quarter.

• The Changemaker: This award recognizes one bank and one credit union for their exceptional use of technology, services, and innovation to improve operational efficiency.

  • Georgia United Credit Union – Harnessed the power of SymXchange™, Banno™, and PowerOn® to streamline processes, saving 3.75 hours per day in card orders and improving member experiences.

  • IncredibleBank – Applied Banno and Artificial Intelligence (AI) to improve customer service responsiveness and reduce the time it takes to answer Spanish-speaking inquiries by around 30%.

• The Integrator: This award celebrates two fintechs for improving the user experience and financial health of both consumers and businesses.

  • DoubleCheck Solutions – Helps financial institutions modernize their NSF and overdraft practices by putting freedom and control back in consumers' hands.

  • FINBOA – Its Payment Disputes solution has led to a 90% reduction in intake processing efforts and other improved efficiencies.

Descriptions of the winning campaigns, in addition to details about the Cobalt Awards, are available on Jack Henry's website. Each winning organization receives a $10,000 donation to a charity of their choice, in addition to attending Jack Henry Connect in person and additional promotion.  

"At Jack Henry, our mission is to strengthen the connections between people and their financial institutions through technology and services that reduce barriers to financial health," said Greg Adelson, President and CEO of Jack Henry. "These organizations have gone above and beyond in advancing that mission, and we are honored to recognize and celebrate their outstanding work."