The partnership deal between Jack Henry & Associates and New York Digital Investment Group (NYDIG) allows community financial institutions to offer Bitcoin services as their clients grow interest.
Millions of US customers trade Bitcoin.
Jack Henry and Associates (JHA), a leading technology solutions provider and payment processing firm, press release. The partnership allows business and consumer accounts to buy, sell and hold Bitcoin through Jack Henry’s Banno digital platform.
The latter was developed for local credit unions and banks in the United States and has over 7 million US consumers. The press release also revealed that JHA PayCenter will facilitate payments “to/from NYDIG” via a real-time payment network.
While this development will give millions of consumers access to Bitcoin, it will also benefit credit unions and banking institutions. According to the announcement, these financial institutions could offer installment investment options, automatic savings for account holders, and even create “new and significant non-interest income opportunities.”
Rahm McDaniel, head of banking solutions at NYDIG, said of the partnership:
“Together we are bridging access to a wide range of financial tools for our Jack Henry customers. This relationship is an important step towards making it easier for both financial institutions and account holders to obtain Bitcoin services.”
Julie Morlan, Senior Managing Director, Digital Solutions, Jack Henry said:
“Our relationship with NYDIG helps more banks and credit unions meet today’s modern payment needs. This supports our mission of providing financial institutions with choice and access to a broader financial ecosystem, maintaining first app status for consumers’ financial needs.”
More community banks offering Bitcoin services
NYDIG continues to work with more financial services providers in the United States to give banking customers access to Bitcoin. Our collaborations with Jack Henry include: similar partnership Deal with Computer Services Incorporated (CSI) early January 2022
At the end of the same month, NYDIG will be working with Five Star Bank to see the latter customers trade BTC directly from their bank accounts before the end of the second quarter. NYDIG will partner with NCR in 2021 to enable 650 banks and credit unions to provide bitcoin trading services to their customers.
February 2022 digital asset management company launch An employee benefits program known as the Bitcoin Savings Plan. This program allows workers to convert part of their salary into BTC.
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