Jack Henry™ (Nasdaq: JKHY) announced today that it is redefining fraud prevention with the initial roll out of Jack Henry Financial Crimes Defender™, a cloud-native fraud and anti-money laundering (AML) solution designed with real-time capabilities at the forefront. 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.
New York-based Carver Federal Savings Bank is among the first financial institutions to implement the solution. “Jack Henry’s Financial Crimes Defender positions us well against the rising threat of fraud; it allows us to offer a secure and smooth banking experience for our customers,” said Patrick Brennan, VP of information technology at the bank. “It’s seamless integration, user-friendly design and real-time, AI-powered fraud detection will help us operate more efficiently and improve our fraud detection rate to keep our customers and their money safe. Our staff can now make faster and smarter decisions and better combat financial crimes and minimize risk.”
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.
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