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How Jack Henry is Modernizing Banking Infrastructure
Dec 19, 2024
Ben Metz, Vice President and CTO at Jack Henry, leads the charge in modernizing outdated banking systems. He reveals how many banks still rely on pre-internet technology and the regulatory hurdles hampering innovation. Metz shares insights on integrating AI and cloud computing into community banks, aiming to reshape the financial landscape. He discusses the critical need for startups to collaborate with traditional institutions and offers practical advice for fintech founders eager to drive change in an evolving market.
26:38
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Quick takeaways
- Jack Henry's modernization efforts focus on helping community banks overcome outdated infrastructure and regulatory challenges to foster innovation.
- Ben Metz emphasizes the importance of leveraging AI and cloud computing to empower smaller banks, ensuring they remain competitive and relevant.
Deep dives
Ben Metz's Journey in Financial Services
Ben Metz transitioned from being a coder at startups to the CTO of Jack Henry, a major player in financial services. His early venture with Bano aimed to create an open banking platform, which was ahead of its time, but ultimately caught the attention of Jack Henry, leading to its acquisition. Metz states that many challenges in banking arise from outdated infrastructure, which was not designed for today’s high-demand digital environment. His experiences highlight the necessity of modernizing banks’ technology to better serve small community institutions, which are crucial to the economic landscape.
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