What changed in this filing

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Item 1. Business

2025-08-25 compared with 2024-08-26 · 113 added, 106 removed, 201 unchanged (52% of the section changed)

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® is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve.

For more than 48 years, we have provided technology solutions to help banks and credit unions innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders.

For nearly 50 years, we have provided technology solutions to help banks and credit unions innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders.

We empower approximately 7,400 financial institutions and diverse corporate entities with people-inspired innovation, personal service, and insight-driven solutions.

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We strengthen the connections between people and their financial institutions through technology and services that reduce the barriers to financial health.

This philosophy has always been part of the foundation on which Jack Henry was built.

Our founders, Jack Henry and Jerry Hall, were committed to their community and believed they could help financial institutions better serve the needs of people and businesses using more innovative technology and services.

Since our founding in 1976, much has changed, but our commitment to supporting community and regional financial institutions remains unwavering.

We continue to be guided by our founding principles:

This mission has always been part of the foundation on which Jack Henry was built.

Our founders, Jack Henry and Jerry Hall, were committed to their community and believed they could help financial institutions better serve the needs of their accountholders by using more innovative technology and services.

Since our founding in 1976, much has changed, but our commitment to supporting community and regional banks and credit unions remains unwavering.

We continue to be guided by our founding philosophy:

do the right thing, do whatever it takes, and have fun.

We provide products and services primarily to community and regional financial institutions (see "Our Industry" below):

We provide products and services primarily to community and regional banks and credit unions (see "Our Industry" below):

• Core bank integrated data processing systems are provided to over 950 banks.

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We offer a flagship core processing platform and integrated complementary solutions that support both on-premise and private cloud operating environments.

• Non-core highly specialized core-agnostic products and services are also provided to financial institutions.

We offer complementary solutions that include highly specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile functionality.

These products and services enhance the performance of traditional financial services organizations of all asset sizes and charters, and non-traditional diverse corporate entities.

In total, we serve over 1,660 bank and credit union core clients and over 5,870 non-core clients.

• Non-core highly specialized core-agnostic products and services are also provided to banks and credit unions.

We offer complementary solutions that include highly specialized financial performance, imaging and payment solutions, information security and risk management, retail delivery, and online and mobile functionality.

These products and services enhance the performance of traditional banks and credit unions of all asset sizes and charters, and non-traditional diverse corporate entities.

In total, we serve approximately 1,670 bank and credit union core clients and over 5,710 non-core clients.

Our products and services provide our clients with solutions that can be tailored to support their unique growth, service, operational, and performance goals.

Our well-rounded solutions also enable financial institutions to offer the high-demand products and services required by their accountholders to compete more successfully and to capitalize on evolving trends shaping the financial services industry.

Our well-rounded solutions also enable banks and credit unions to offer the high-demand products and services required by their accountholders to compete more successfully and to capitalize on evolving trends shaping the financial services industry.

We are committed to exceeding our clients’ expectations.

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For further discussion of our human capital considerations, see "Human Capital" below.

Our core banking solutions currently serve commercial banks and savings institutions with up to $50 billion in assets.

Our systems are designed to be capable of serving institutions with up to $100 billion in assets, and we complete annual, third-party testing to validate this capability each August.

According to the Federal Deposit Insurance Corporation (“FDIC”), there were approximately 4,540 commercial banks and savings institutions in the less than $50 billion asset range as of December 31, 2023, and we currently support over 940 of these banks with one of our three core information processing platforms and a significant number of complementary/payment products and services.

Our core banking solutions generally serve commercial banks and savings institutions with up to $55 billion and above in assets and are designed to be capable of serving institutions with up to $150 billion in assets.

We complete annual, third-party testing to validate this capability each August.

According to the Federal Deposit Insurance Corporation (“FDIC”), there were approximately 4,440 commercial banks and savings institutions in the $55 billion and under asset range as of December 31, 2024, and we currently support over 950 of these banks with one of our three core information processing platforms and a significant number of complementary/payment products and services.

Our core credit union solutions serve credit unions of all asset sizes.

According to America's Credit Unions ("ACU") (formerly Credit Union National Association), there were approximately 4,700 domestic credit unions as of December 31, 2023, and we currently support approximately 720 of these credit unions with one flagship core information processing platform and a significant number of complementary/payment products and services.

Our non-core solutions serve financial services organizations of all asset sizes and charters and other diverse corporate entities.

We currently support financial institutions with specialized solutions for generating additional revenue and growth, increasing security, mitigating operational risks, and controlling operating costs.

The FDIC reports the number of commercial banks and savings institutions declined 15% from the beginning of calendar year 2018 to the end of calendar year 2023, due mainly to mergers and acquisitions.

According to America's Credit Unions ("ACU") (formerly Credit Union National Association), there were 4,550 domestic credit unions as of December 31, 2024, and we currently support approximately 715 of these credit unions with one flagship core information processing platform and a significant number of complementary/payment products and services.

Our non-core solutions serve banks and credit unions of all asset sizes and charters and other diverse corporate entities.

We support these organizations with specialized solutions for generating additional revenue and growth, increasing security, mitigating operational risks, and controlling operating costs.

The FDIC reports the number of commercial banks and savings institutions declined 13% from the end of calendar year 2019 to the end of calendar year 2024, due mainly to mergers and acquisitions.

Although the number of banks continued to decline at a 3% compound annual rate during this period, aggregate assets increased at a compound annual rate of 5% and totaled $24.1 trillion as of December 31, 2024.

There were six new bank charters issued in calendar year 2023, compared to 15 in the 2022 calendar year.

There were six new bank charters issued in calendar year 2024 and six issued in the 2023 calendar year.

Comparing calendar years 2024 to 2023, the number of transactions of FDIC-insured banks acquiring or merging with other banks or credit unions decreased 18%.

ACU reports the number of credit unions declined 14% from the beginning of calendar year 2018 to the end of calendar year 2023.

ACU reports the number of credit unions declined 15% from the end of calendar year 2019 to the end of calendar year 2024.

Although the number of credit unions declined at a 3% compound annual rate during this period, aggregate assets increased at a compound annual rate of 8% and totaled $2.3 trillion as of December 31, 2024.

Community and regional financial institutions are vitally important to the communities, consumers, and businesses they serve as well as to the local economies where they operate.

Bank customers and credit union members rely on these institutions to provide personalized, relationship-based service and competitive financial products and services available through the accountholders' delivery channel of choice.

Institutions are recognizing that attracting and retaining customers and members in today’s highly competitive financial industry and realizing near-term and long-term performance goals are often technology dependent.

Financial institutions must implement technological solutions that enable them to:

• Offer e-commerce, mobile, and digital strategies that provide the convenience-driven services required in today’s financial services industry.

Despite continued industry consolidation, Jack Henry net core footprints increased year-over-year from calendar year 2023 to calendar year 2024 in both bank and credit union client bases.

Furthermore, the average assets under management for our banking core clients grew from $1.26 billion to $1.29 billion, and the average assets under management for our credit union core clients grew from $1.17 billion to $1.20 billion.

Community and regional banks and credit unions are vitally important to the communities, consumers, and businesses they serve as well as to the local economies where they operate.

Bank and credit union accountholders rely on these institutions to provide personalized, relationship-based service and competitive financial products and services available through the accountholders' delivery channel of choice.

Institutions are recognizing that attracting and retaining accountholders in today’s highly competitive financial industry and realizing near-term and long-term performance goals are often technology dependent.

Banks and credit unions must implement technological solutions that enable them to:

• Offer digital strategies that provide the convenience-driven services required in today’s financial services industry.

• Maximize performance with accessible, accurate, and timely business intelligence information.

• Provide the high-demand products and services needed to successfully compete with traditional and non-traditional competitors created by convergence within the financial services industry.

• Enhance the customer/member experience at multiple points of contact.

• Expand existing customer/member relationships and strengthen exit barriers by cross selling additional products and services.

• Foster growth and efficiency through delivering accountholders exceptional user experiences.

• Expand existing accountholder relationships and strengthen exit barriers by cross selling additional products and services.

• Capitalize on new revenue, and deposit and loan portfolio growth opportunities.

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• Ensure full regulatory compliance.

Jack Henry’s extensive product and service offerings help diverse financial institutions meet business challenges and capitalize on opportunities.

Jack Henry’s extensive product and service offerings help diverse banks and credit unions meet business challenges and capitalize on opportunities.

We strive to get to know our clients, understand their strategies and challenges, and provide innovative solutions that help them achieve short- and long-term success.

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Our fundamental business strategy is to generate organic revenue and earnings growth augmented by strategic acquisitions.

We execute this strategy by:

• Providing community and regional financial institutions with core processing systems that provide excellent functionality and support on-premise and private cloud delivery environments with identical functionality.

Our strategy for the next three to five years is to enable banks and credit unions to win on exceptional user experience and trust through open, innovative technology, data-driven insights, and service, resulting in greater growth and efficiency.

We intend to execute this strategy by:

• Providing community and regional banks and credit unions with core processing systems that provide excellent functionality and support on-premise and private cloud delivery environments with identical functionality.

• Expanding each core client relationship by cross-selling complementary/payment products and services that enhance the functionality provided by our core processing systems.

• Delivering non-core highly specialized core-agnostic complementary/payment products and services to financial institutions, including institutions not utilizing one of our core processing systems, and diverse corporate entities.

• Delivering non-core highly specialized core-agnostic complementary/payment products and services to banks and credit unions, including institutions not utilizing one of our core processing systems, and diverse corporate entities.

• Developing and deploying a long-term technology modernization strategy to provide public cloud-native solutions that provide clients with greater flexibility, optionality, open integration, speed to market, and other benefits.

• Upholding a company-wide commitment to service that consistently exceeds our clients’ expectations and generates high levels of retention.

• Carrying out a large client strategy that focuses on deep engagement with banks and credit unions to align objectives, optimize revenue streams, and foster collaborative growth and innovation through continuous engagement and commitment to excellence.

• Growing our market share of services to small and medium-sized businesses offering features through banks and credit unions.

• Building, maintaining, and enhancing a protected environment and tools that help our clients and Jack Henry protect accountholder data, assets, and comply with regulations.

• Maintaining a disciplined acquisition strategy.

Technology Modernization Strategy

Our public cloud-native technology modernization strategy seeks to enable our bank and credit union clients to innovate faster, differentiate themselves in the markets they serve, and meet the evolving needs of their accountholders.

The Jack Henry Platform TM is the centerpiece of this strategy and operates as a single public cloud-native, API-first platform, which we are developing into a fully functional modern alternative for existing core functions.

The platform includes services like wire transfers, a centralized data hub for reporting and analysis, exception item processing, general ledger, deposit servicing, and entitlements.

These services can be combined with other Jack Henry public cloud-native solutions, such as digital banking, digital payments, and fraud detection, as well as third-party provider solutions on a single, unified platform.

The Jack Henry Platform leverages public cloud advantages, including high system availability, rapid processing, modern security standards, easily deployable upgrades, and scalability.

Acquisition Strategy

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• Provide selective opportunities to sell outside our traditional markets in the financial services industry.

After 48 years in business, we have very few gaps in our product line, so it is increasingly difficult to find proven products or services that would enable our clients and prospects to better optimize their business opportunities or solve specific operational issues.

In addition, we see few acquisition opportunities that would expand our market or enable our entry into adjacent markets within the financial services industry that are fairly priced or that we could assimilate into our Company without material distractions.

After nearly 50 years in business, we have very few gaps in our product line, so it is increasingly difficult to find proven products or services that would enable our clients and prospects to better optimize their business opportunities or solve specific operational issues.

In addition, we see few acquisition opportunities that would

expand our market or enable our entry into adjacent markets within the financial services industry that are fairly priced or that we could assimilate into our Company without material distractions.

We have a solid track record of executing acquisitions from both a financial and operational standpoint, and we will continue to pursue acquisition opportunities that support our strategic direction, complement and accelerate our organic growth, and generate long-term profitable growth for our stockholders.

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• Our core banking solutions support commercial banks with information and transaction processing platforms that provide enterprise-wide automation.

We have three functionally distinct core bank processing systems and more than 140 fully integrated complementary/payment solutions, including business intelligence and bank management, retail and business banking, digital and mobile internet banking and electronic payment solutions, fraud and risk management and protection, account origination, and item and document imaging solutions.

core banking solutions have state-of-the-art functional capabilities, and we can re-market the hardware required by on-premise use of each software system.

We have three functionally distinct core bank processing systems and many fully integrated complementary/payment solutions, including business intelligence and bank management, retail and business banking, digital and mobile internet banking and electronic payment solutions, fraud and risk management and protection, account origination, and item and document imaging solutions.

Our core banking solutions have state-of-the-art functional capabilities, and we can re-market the hardware required by on-premise use of each software system.

Our banking solutions can be delivered on-premise or through our private cloud delivery model and are backed by a company-wide commitment to provide exceptional client support.

• Our core credit union solutions support credit unions of all sizes with an information and transaction processing platform that provides enterprise-wide automation.

Our solution includes one flagship core processing system and more than 100 fully integrated complementary/payment solutions, including business intelligence and credit union management, member and member business services, digital and mobile internet banking and electronic payment solutions, fraud and risk management and protection, account origination, and item and document imaging solutions.

Our solution includes one flagship core processing system and many fully integrated complementary/payment solutions, including business intelligence and credit union management, accountholder and accountholder business services, digital and mobile internet banking and electronic payment solutions, fraud and risk management and protection, account origination, and item and document imaging solutions.

Our credit union solution also has state-of-the-art functional capabilities.

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Each is backed by our company-wide commitment to provide exceptional client support.

• Our non-core solutions for financial institutions and diverse corporate entities are specialized products and services assembled primarily through our focused diversification acquisition strategy.

These core-agnostic solutions are compatible with a wide variety of information technology platforms and operating environments and offer more than 100 complementary/payment solutions, including proven solutions for generating additional revenue and growth, increasing security and mitigating operational risks, and/or controlling operating costs.

Our non-core products and services enhance the performance of financial services organizations of all asset sizes and charters, and diverse corporate entities.

• Our non-core solutions for banks, credit unions, and diverse corporate entities are specialized products and services assembled primarily through our focused diversification acquisition strategy.

These core-agnostic solutions are compatible with a wide variety of information technology platforms and operating environments and offer a large number of complementary/payment solutions, including proven solutions for generating additional revenue and growth, increasing security and mitigating operational risks, and/or controlling operating costs.

Our non-core products and services enhance the performance of banks and credit unions of all asset sizes and charters, and diverse corporate entities.

These distinct products and services can be implemented individually or as solution suites to address specific business problems or needs and enable effective responses to dynamic industry trends.

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Core Software Systems

Core software systems primarily consist of the integrated applications required to process deposit, loan, and general ledger transactions, and to maintain centralized customer/member information.

Core software systems primarily consist of the integrated applications required to process deposit, loan, and general ledger transactions, and to maintain centralized accountholder information.

Our core banking solutions consist of three software systems marketed to banks, and our core credit union solution consists of one software system marketed to credit unions.

These core systems are available for on-premise installation at client sites, or financial institutions can choose to leverage our private cloud environment for ongoing information processing.

These core systems are available for on-premise installation at client sites, or banks and credit unions can choose to leverage our private cloud environment for ongoing information processing.

Core banking platforms are:

• SilverLake System ® , a robust system primarily designed for commercial-focused banks that currently serves banks with assets ranging from $1 billion to $50 billion.

• SilverLake System ® , a robust system primarily designed for commercial-focused banks that currently serves banks with assets ranging from $1 billion to over $55 billion.

Some progressive smaller banks and de novo (start-up) banks also select SilverLake.

This system is in use by approximately 490 banks, and now serves nearly 11% of the domestic banks with assets less than $50 billion.

• CIF 20/20 ® , a parameter-driven, easy-to-use system that now supports approximately 280 banks ranging from de novo institutions to those with assets of $5 billion.

• Core Director ® , a cost-efficient system with point-and-click operation that now supports over 170 banks ranging from de novo institutions to those with assets of over $2 billion.

This system is in use by 520 banks, and now serves nearly 12% of the domestic banks in the $55 billion and under asset range.

• CIF 20/20 ® , a parameter-driven, easy-to-use system that now supports 260 banks ranging from de novo institutions to those with assets of $6 billion.

• Core Director ® , a cost-efficient system with point-and-click operation that now supports over 170 banks ranging from de novo institutions to those with assets of $2 billion.

Core credit union platform is:

• Symitar ® (formerly known as Episys ® ), a robust system designed specifically for credit unions.

It has been implemented by approximately 720 credit unions with assets ranging from $20 million to $30 billion, and according to National Credit Union Administration ("NCUA") data, is the system implemented by more credit unions with assets exceeding $25 million than any other core system.

It has been implemented by approximately 715 credit unions with assets ranging from $20 million to $33 billion, and according to National Credit Union Administration ("NCUA") data, is the system implemented by more credit unions with assets exceeding $25 million than any other credit union core system.

Clients electing to install our solutions on-premise license the proprietary software systems.

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We also provide image item processing services from two host/archive sites and several key entry and balancing locations throughout the country.

We print and mail customer/member statements for financial institutions from three regional printing and rendering centers.

We print and mail accountholder statements for banks and credit unions from three regional printing and rendering centers.

Clients electing to outsource their core processing typically sign contracts for six years that include "per account" fees and minimum guaranteed payments during the contract period.

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Complementary Products and Services

We have more than 140 complementary/payment products and services that are targeted to our core banks and more than 100 targeted to credit unions.

Many of these are selectively sold to financial institutions that use other core processing systems.

These complementary/payment solutions enable core bank and credit union clients to respond to evolving customer/member demands, expedite speed-to-market with competitive offerings, increase efficiency, address specific operational needs, and generate new revenue streams.

The highly specialized solutions enable diverse financial institutions and corporate entities to generate additional revenue and growth opportunities, increase security, mitigate operational risks, and control operating costs.

We regularly introduce new products and services based on demand for integrated complementary/payment solutions from our existing core clients and based on the growing demand among financial institutions and corporate entities for specialized solutions capable of increasing revenue and growth opportunities, mitigating and controlling operational risks, and/or containing costs.

We have a large number of complementary/payment products and services that are targeted to our core banks and credit unions.

Many of these are selectively sold to banks and credit unions that use other core processing systems.

These complementary/payment solutions enable core bank and credit union clients to respond to evolving accountholder demands, expedite speed-to-market with competitive offerings, increase efficiency, address specific operational needs, and generate new revenue streams.

The highly specialized solutions enable diverse banks, credit unions, and corporate entities to generate additional revenue and growth opportunities, increase security, mitigate operational risks, and control operating costs.

We regularly introduce new products and services based on demand for integrated complementary/payment solutions from our existing core clients and based on the growing demand among banks, credit unions, and corporate entities for specialized solutions capable of increasing revenue and growth opportunities, mitigating and controlling operational risks, and/or containing costs.

Our Industry Research department solicits client guidance on the business solutions they need, evaluates available solutions and competitive offerings, and manages the introduction of new product offerings.

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A complete core system implementation typically includes detailed planning, project management, data conversion, and testing.

Our experienced implementation teams travel to client facilities or work remotely with clients to help manage the implementation process and ensure that all data is transferred from the legacy system to the Jack Henry system.

Our experienced implementation teams travel to client facilities or work remotely with clients to help

manage the implementation process and ensure that all data is transferred from the legacy system to the Jack Henry system.

Our implementation fees are fixed or hourly based on the core system being installed.

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We have a comprehensive training program that supports new clients with basic training and longtime clients with continuing education.

The training enables financial institutions to maximize the use of our core and complementary solutions, learn about ongoing system enhancements, and understand evolving legislative and regulatory requirements.

The training enables banks and credit unions to maximize the use of our core and complementary solutions, learn about ongoing system enhancements, and understand evolving legislative and regulatory requirements.

Support and Services

We serve our core clients as a single point of contact and support for the complex solutions we provide.

We serve our core clients as a single point of contact and support for the solutions we provide.

Our comprehensive support infrastructure incorporates:

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• Trained support staff available up to 24 hours a day, 365 days a year.

• Assigned account managers.

• Assigned account team.

• Sophisticated support tools, resources, and technology.

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These support services are typically priced at approximately 20% of the respective product’s software license fee.

The subsequent years' service fees generally increase as client assets

increase and as additional complementary products are purchased.

The subsequent years' service fees generally increase as client assets increase and as additional complementary products are purchased.

Annual software support fees typically are billed during June and are paid in advance for the entire fiscal year, with proration for new product implementations that occur during the fiscal year.

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Digital Products and Services

Jack Henry Digital represents a category of digital products and services that are being built and integrated together into one unified platform.

Our main offering is the Banno Digital Platform™.

It is an online and mobile banking platform that helps community and regional financial institutions strategically differentiate their digital offerings from those of megabanks and other financial technology companies.

It is a complete, open digital banking platform that gives banks and credit unions attractive, fast, cloud-native applications for their customers and members and cloud-based, core-connected back-office tools for their employees.

Jack Henry Digital provides a unified platform of digital products and services, anchored by the Banno Digital Platform™.

This native and browser-based banking solution empowers community and regional banks and credit unions to strategically enhance their digital offerings and compete effectively with larger banks and tech companies.

It's a comprehensive business and retail open platform delivering attractive, fast, cloud-native applications for accountholders and cloud-based, core-connected back-office tools for employees.

Our treasury platform is a separate digital product that services the needs of banks' and credit unions' larger commercial customers.

Payment Solutions

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In addition, advisory services are offered to support a variety of needs including card portfolio growth, start-up program consultation, as well as customized fraud management;

all tailored to individual financial institution goals and concerns.

• Enterprise Payment Solutions ("EPS") is a comprehensive payments engine, offering an integrated suite of remote deposit capture, Automated Clearing House ("ACH") and card transaction processing solutions, supporting tools for accounts receivable posting, risk management, reporting, and application interfaces ("APIs") for financial institutions, businesses, and fintechs of all sizes.

EPS helps clients succeed in today’s competitive market to increase revenue, improve efficiencies, better manage compliance, and enhance customer and member relationships.

• Payrailz TM Payments Platform provides consumers and businesses with money movement options through their financial institutions’ digital platforms.

all tailored to individual bank and credit union goals and concerns.

• Enterprise Payment Solutions ("EPS") is a comprehensive payments engine, offering an integrated suite of Automated Clearing House ("ACH"), instant payments, credit card, and remote deposit capture processing that

includes supporting tools for accounts receivable posting, risk management, reporting, and application interfaces ("APIs") for banks, credit unions, businesses, and fintechs of all sizes.

EPS helps clients succeed in today’s competitive market to increase revenue, improve efficiencies, better manage compliance, and enhance accountholder relationships.

• Payrailz TM Payments Platform provides consumers and businesses with money movement options through their bank's or credit union's digital platforms.

It supports our technology modernization strategy by providing next-generation, cloud-native digital payment capabilities to our payment ecosystem.

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In addition to bill payment capabilities, we provide a 'pay a loan' feature, an 'open looped' real-time person-to-person ("P2P") solution, and account-to-account ("A2A") transfer features.

The array of money movement options maintains consumer and business engagement with the financial institution.

• JHA PayCenter TM , provides financial institutions with a single entry point to both Zelle ® and Real Time Payments ("RTP") networks, and the Federal Reserve's FedNow ® network.

The array of money movement options maintains consumer and business engagement with the bank or credit union.

• JHA PayCenter TM provides banks and credit unions with a single entry point to both Zelle ® and Real Time Payments ("RTP") networks, and the Federal Reserve's FedNow ® network.

PayCenter manages the certification process and mandatory updates from the networks, simplifies integration with toolkits, and provides fraud monitoring.

Financial institutions can send and receive transactions instantly 24 hours a day, 365 days a year, through our core and complementary solutions.

• Payments as a Service ("PaaS") ties together and further enhances the complete array of electronic payments functionality with a front-end Payments Developers Experience Portal, APIs, and back-end data analytics.

Banks and credit unions can send and receive transactions instantly 24 hours a day, 365 days a year, through our core and complementary solutions.

• Payments as a Service ("PaaS") supports embedded payment capabilities and ties together and further enhances the complete array of electronic payments functionality with a front-end Payments Developers Experience Portal, APIs, and back-end data analytics.

Research and Development

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The marketing and sales initiatives within the core business lines are primarily focused on identifying banks and credit unions evaluating alternative core information and transaction processing solutions.

Our non-core specialized core-agnostic niche solutions are sold to complement existing technology platforms to financial services organizations of all asset sizes and charters.

Our non-core specialized core-agnostic niche solutions are sold to complement existing technology platforms to banks and credit unions of all asset sizes and charters.

Sales executives are responsible for the activities required to earn new clients in assigned territories, and regional account executives are responsible for nurturing client relationships and cross selling additional products and services.

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print and online advertising;

telemarketing;

client newsletters;

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and media relations.

We also host annual national education conferences, which provide opportunities to network with existing clients and demonstrate new products and services.

We also host an annual national education conference, which provides opportunities to network with existing clients and demonstrate new products and services.

Jack Henry has sold select products and services outside the United States, primarily in Latin America, the Caribbean and Canada.

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The market for companies providing technology solutions to financial services organizations is competitive, and we expect that competition from both existing competitors and companies entering our existing or future markets will remain strong.

Some of our current competitors have longer operating histories, larger client bases, and greater financial resources.

The principal competitive factors affecting the market for technology solutions include product/service functionality, price, operating flexibility and ease-of-use, client support, and existing client references.

For more than a decade, there has been significant consolidation among providers of products and services designed for financial institutions, and this consolidation is expected to continue in the future.

Some of our current competitors have longer operating histories, larger client bases, and greater

financial resources.

The principal competitive factors affecting the market for technology solutions include culture, service, innovation, strategy, and execution, along with product/service functionality, price, operating flexibility, and ease-of-use.

For more than a decade, there has been significant consolidation among providers of products and services designed for banks and credit unions, and this consolidation is expected to continue in the future.

Our core solutions compete with large vendors that provide information and transaction processing solutions to banks and credit unions, including Fidelity National Information Services, Inc.;

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Jack Henry maintains a corporate commitment to address compliance issues and implement requirements imposed by federal regulators prior to the effective date of such requirements when adequate prior notice is given.

Our compliance program is coordinated by a team of qualified compliance analysts and auditors with extensive regulatory agency and financial institution experience, knowledge and understanding of Federal consumer protection regulations, and a thorough working knowledge of Jack Henry and our solutions.

These compliance professionals leverage multiple channels to remain informed about potential and recently enacted regulatory requirements, including regular discussions on emerging topics with the Federal Banking Agencies (“FBA”) examination team and training sessions sponsored by various professional associations.

Our compliance program is coordinated by a team of qualified compliance professionals with extensive regulatory agency and financial institution experience, knowledge and understanding of Federal consumer protection regulations, and a thorough working knowledge of Jack Henry and our solutions.

These compliance professionals leverage multiple channels to remain informed about potential and recently enacted regulatory requirements, including discussions on emerging topics with the Federal Banking Agencies (“FBA”), and training sessions sponsored by various professional associations.

We have processes in place to inform internal stakeholders of new and revised regulatory requirements.

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Internal audits of our systems, networks, operations, business recovery plans, and applications are conducted and specialized outside firms are periodically engaged to perform testing and validation of our systems, processes, plans, and security.

The FBA conducts annual reviews throughout the Company and issues a Report of Examination.

The FBA conducts ongoing examinations of the Company and issues Reports of Examination.

The Board of Directors provides oversight of these activities through the Risk and Compliance Committee and the Audit Committee.

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Jack Henry is not chartered by the Office of the Comptroller of Currency ("OCC"), the Board of Governors of the Federal Reserve System, the FDIC, the NCUA or other federal or state agencies that regulate or supervise depository institutions.

However, operating as a service provider to financial institutions, Jack Henry’s operations are governed by the same regulatory requirements as those imposed on financial institutions, and subject to periodic reviews by FBA regulators who have broad supervisory authority to remedy any shortcomings identified in such reviews.

However, operating as a service provider to banks and credit unions, Jack Henry’s operations are governed by the same regulatory requirements as those imposed on financial institutions, and

subject to periodic reviews by FBA regulators who have broad supervisory authority to remedy any shortcomings identified in such reviews.

Jack Henry is also subject to periodic examinations by the Consumer Financial Protection Bureau (“CFPB”), which provides supervision and enforcement related to federal consumer financial laws applicable to some products and services offered by our clients.

We provide private cloud services through JHA OutLink Processing Services™ for banks and EASE Processing Services™ for credit unions.

We provide private cloud services through Jack Henry Processing Services™ for banks and EASE Processing Services™ for credit unions.

We provide data centers and electronic transaction processing through JHA Card Processing Solutions™, internet banking through NetTeller ® and Banno TM online solutions, bill payment through our Payrailz TM Payments Platform, network security monitoring and Hosted Network Solutions ("HNS") through our Gladiator ® unit, cloud services through Hosted Partner Services and Enterprise Integration Services, and business recovery services through Centurion Disaster Recovery ® .

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Talent Attraction and Engagement

Our people and culture strategy focuses on attracting, engaging, and retaining qualified, diverse, and innovative talent at all levels of the Company.

We are a committed equal opportunity employer and all qualified candidates receive consideration for employment without regard to race, color, religion, national origin, age, disability, sex, sexual orientation, gender, gender identity, pregnancy, genetic information, or other characteristics protected by applicable law.

Beyond nondiscrimination compliance, we are committed to fostering a respectful and inclusive workplace in which all individuals are treated with respect and dignity.

We continue to concentrate efforts on assuring that all our associates feel like they belong at Jack Henry.

We seek nontraditional talent streams to help identify candidates from underrepresented groups, including through our internship and apprenticeship programs.

Our internship program focuses on attracting college and university students to paid work in Jack Henry departments related to their studies, while our apprenticeship program offers paid training and work for candidates (either students or non-students) with little to no traditional experience in the field, such as learning computer coding.

Both our internship and apprenticeship programs can lead to full-time employment.

We are actively collaborating with our Business Innovation Groups ("BIGs") to foster a culture of belonging.

Their insights are crucial for sparking innovation and shaping strategies to attract and retain talent, ensuring our associates feel valued and connected.

Our BIGs are company-sponsored groups open to all associates.

As of June 30, 2024, we had over 1,740 unique associates participating in six active BIGs, with five focused on inclusion for specific communities — women, people of color, LGBTQ+, veterans, and people with disabilities — and one focused on environmental and sustainability topics.

While BIGs allow associates to connect and support each other, they also function to assist us in addressing bona fide business problems through input and suggestions.

For example, these groups work with executive leadership to actively improve our talent attraction processes for prospective associates.

They also provide education, training, and conversation opportunities to all associates to increase belongingness and innovation throughout the Company.

Our people and culture strategy is focused on attracting, engaging, and retaining associates that are qualified and innovative with future-ready technical skills.

We are an equal opportunity employer and are committed to considering all qualified candidates for employment.

We seek non-traditional talent streams to help identify candidates from underrepresented groups.

Our internship attracts college and university students, and our apprenticeship program offers paid training and work for candidates with little to no traditional experience, such as computer coding.

Both programs can lead to full-time employment.

We are committed to fostering a respectful and inclusive workplace where all individuals are treated with respect and dignity, and we focus on ensuring all associates feel they belong at Jack Henry.

Business Innovation Groups ("BIGs"), which are open to all associates, help us to foster a culture of inclusion and belonging.

These groups provide input and suggestions to address business problems and offer education and training to foster inclusion and belonging.

As of June 30, 2025, we had over 1,770 unique associates and nearly 2,810 combined associates participating in six active BIGs.

A significant portion of the Company’s associates work remotely on either a full-time or hybrid remote/office basis.

The Company remains focused on equipping all associates with the tools necessary to effectively communicate, collaborate, and build connections in a remote environment, including ensuring leaders have the skills needed to effectively lead dispersed teams.

These surveys allow us to respond to associate concerns, benefit from associate perspectives, and better design and develop processes to support our Company culture.

Associates can learn about changes through our jhDaily online news center, regular email communications, monthly Manager Forum events, quarterly associate update videos, or all-associate town hall meetings delivered by senior management.

Training and Development

We seek to actively listen to our associates throughout the year using a defined and continuous listening strategy designed to gather regular feedback on well-being, engagement, leadership, ethics, culture and values, satisfaction, and sense of belonging, through channels such as our annual engagement survey, pulse surveys, skip-a-level interviews, and town halls.

This comprehensive strategy allow us to respond to associate concerns, benefit from associate perspectives, and better design and develop processes to support our Company culture.

Associates can learn about changes through our internal online news center, regular email communications, monthly Manager Forum events, quarterly associate update videos, or all-associate town hall meetings delivered by senior management.

Learning and Development

Our success depends not only on attracting and retaining talented associates, but also in developing our current associates and providing new opportunities for their growth.

We offer our associates numerous live and on-demand courses, resources, and training programs to help them build knowledge, improve skills, and develop their career at Jack Henry.

Learning opportunities include mandatory courses, such as security awareness, as well as recommended content in areas including leadership development;

technical skills;

and diversity, equity, inclusion, and belonging.

Learning opportunities include mandatory courses, as well as recommended content in areas such as leadership development, technical skills, business acumen, innovation, and change management.

Jack Tracks, an annual, company-wide virtual learning event, offers associates a large selection of curated topics such as technical and operational readiness, technology trends, company solutions, and industry trends.

Recognizing the importance of mentoring in career development, we host an internal mentorship marketplace, which allows prospective mentors and mentees to connect and self-initiate a mentoring relationship.

Career mobility and personal development resources are available to all associates through dedicated intranet sites.

Career mobility

and personal development resources are available to all associates through dedicated intranet sites including an internal career website where associates can explore new opportunities, register their skills, and view salary ranges.

We continue to strengthen our leadership capacity by providing training on effective coaching practices to leaders of the Company.

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Access to on-demand technical training libraries, customized learning plans, certification programs, and classes facilitated by external experts are available to advance their technical expertise.

When there is a critical skill

need or where the technology landscape is rapidly changing, we provide unique learning solutions to align associates' development with our strategic initiatives.

When there is a critical skill need or where the technology landscape is rapidly changing, we provide unique learning solutions to align associates' development with our strategic initiatives.

Wellness and Safety

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Our benefit plan offerings include supportive and dedicated campaigns that communicate directly to associates about financial wellness, mental health, healthful nutrition and exercise, and other wellness topics.

Associate well-being is further supported through policies such as remote work, paid parental leave, military service leave, educational assistance, and bereavement leave policies.

Associate well-being is further supported through policies such as remote work, paid parental leave, military service leave, educational assistance, and bereavement leave policies, as well as paid time off, adoption assistance, an employee assistance program, wellness incentives, and paid community volunteer hours.

Available Information

4 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business