Jack Henry Rolls Out Next-Generation Financial Crimes Platform

Jack Henry™, a leading provider of technology solutions for the financial services industry, announced the initial rollout of Jack Henry Financial Crimes Defender™, a cloud-native fraud and anti-money laundering (AML) solution designed with real-time capabilities. This new solution allows community and regional financial institutions to proactively combat financial crimes across channels.

Financial Crimes Defender is part of Jack Henry's technology modernization strategy, focused on delivering cloud-native solutions that help banks and credit unions innovate faster, differentiate strategically, and meet the evolving needs of their accountholders. The platform is built on the public cloud, allowing for real-time data, more accurate reporting, open integrations, speed, and agility.

Financial Crimes Defender provides real-time detection and prevention of fraud involving checks, deposits, transfers, ACH transactions, and instant payments. Financial institutions can stop transactions before they leave the institution or appear in the clients' accounts. Plus, its open architecture allows for the seamless integration of third-party data into the platform, improving overall fraud management for financial institutions across all relationships. 

This AI-powered solution bundles fraud and AML solutions to help financial institutions of all sizes make faster and more informed risk decisions, minimize false positives and wasted resources, improve operational efficiency, and ensure more effective fraud monitoring and reporting for Bank Secrecy Act (BSA) compliance. Moreover, its real-time data and behavioral analytics enables secure transactions and enhanced trust.

"Fighting fraud with real-time data is the equivalent of catching an intruder at the front door, before they get into the house," said Matt Riley, president of Complementary Solutions at Jack Henry. "Financial Crimes Defender lets financial institutions detect and prevent fraud at first sight, ensuring assets and information remain within the institution. This is a game-changer for community banks and credit unions."

Source: PRNewswire