Jack Henry Rapid Transfers Delivers Competitive Edge to Banks and Credit Unions

Banks and credit unions are giving high marks to Jack Henry™ Rapid Transfers, the new cloud-native solution from Jack Henry™ (Nasdaq: JKHY) that enables fast, secure me-to-me money movement for consumers and small and medium-sized businesses (SMBs).

Developed in collaboration with Moov, Jack Henry Rapid Transfers modernizes how accountholders access their money. Through integrations with Visa Direct and Mastercard Move, the solution uses debit card rails to enable users to quickly and securely move funds from virtually any external financial institution, neo-bank, brokerage, or crypto exchange into their primary bank or credit union accounts.

Offered exclusively through banks and credit unions, Jack Henry Rapid Transfers addresses growing demand for speed and convenience in financial services by offering a capability that few institutions currently provide. As a feature of the cloud-native Jack Henry Platform™, Jack Henry Rapid Transfers helps banks and credit unions enhance their digital experience, attract new deposits, and increase accountholder loyalty.

“Today’s consumers expect to be able to move money instantly, wherever they are and whenever they want,” said Philip Suckow, Senior Vice President of Strategy and Innovation at IncredibleBank, adding that the Wisconsin-based bank is using Jack Henry Rapid Transfers as a lever to win back business from fintechs. “Rapid Transfers is a critical component in making our bank the financial hub for our customers. To do that, you have to deliver the complete digital experience – from budgeting and financial management to payments, account aggregation, and the ability to rapidly move money.” 

Adam Serio, Vice President of Information Security and Technology at Magnolia Federal Credit Union in Mississippi, said his institution launched Rapid Transfers to capture more deposits.

“We do a lot of lending in this area, so we are using Rapid Transfers to drive more membership and deposit growth,” said Serio, noting the solution’s ease of implementation and use. “Our members love it because of the convenience and instant nature of the transaction.”

Rapid Transfers began rolling out in September and is live with 65 financial institutions with another 170 in various stages of implementation. It is fully integrated into the Banno Digital Platform™, Jack Henry’s fast-growing digital banking solution that serves more than 1,000 financial institutions and over 15 million registered users as November 30, 2025. This ensures a consistent and intuitive experience, particularly for users who rely on digital services for income and daily transactions.

“Gen Z’s preference for debit is a defining shift for our industry,” said Abby Wood, Assistant Vice President of Digital at Jack Henry. “Rapid Transfers doesn’t just help reverse deposit attrition and deepen existing accountholder relationships, it gives banks and credit unions the strategic ability to attract and retain the generations that will drive future growth.”

Wade Arnold, CEO and co-founder of Moov, said Rapid Transfers benefits both financial institutions and their accountholders. “When accountholders can instantly pull funds from fintechs and digital wallets into their primary bank account, everybody wins,” Arnold said. “Rapid Transfers turns community financial institutions into the hub of their customers’ financial lives, not the spoke.”