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Jack Henry Boosts Embedded Payments with Victor Technologies Acquisition

Jack Henry's latest acquisition expands its embedded payments capabilities. The deal brings real-time processing and virtual ledgering to its core banking systems, bolstering its position in the growing PaaS market.

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Jack Henry Boosts Embedded Payments with Victor Technologies Acquisition

Jack Henry & Associates, Inc. has bolstered its embedded payments offerings by acquiring Victor Technologies, Inc. This strategic move integrates Victor's cloud-native, API-first solutions with Jack Henry's core banking systems, SilverLake and JHA PayCenterTM, enhancing services for fintechs and commercial customers.

Victor Technologies processes billions of dollars in payments monthly, providing a single source of truth for money movement and compliance reporting. Its real-time payment processing and virtual ledgering functionality offer greater control and near real-time reconciliation, reducing the risk of overdrafts.

Victor President Maf Sonko expressed excitement about joining Jack Henry, stating that the acquisition will expand the reach of their integrated, embedded payments platform. Jack Henry plans to leverage Victor's capabilities to serve its Symitar® credit union and Treasury Management platform clients.

The acquisition expands Jack Henry's capabilities in the rapidly growing Payments-as-a-Service (PaaS) market, which is projected to reach $43.9 billion by 2029, growing at a CAGR of 23.1%. By integrating Victor Technologies' solutions, Jack Henry strengthens its position in the embedded finance landscape.

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