Array and Jack Henry to Distribute Credit Management, Subscription Management, Online Privacy and Identity Protection Tools to Banno Customers and Users

Array and Jack Henry (Nasdaq: JKHY) announced plans to provide Array’s credit management, online privacy and other popular personal finance tools for free to users who are on the Banno Digital Platform with the option to upgrade to premium features.

More than 800 community banks and credit unions and 10 million registered users on Banno will soon have access to these tools through a phased rollout. The announcement was made at the Jack Henry Connect 2023 client conference in Indianapolis.

“Array is laser-focused on delivering powerful financial tools that consumers love through the financial partners they trust,” said Martin Toha, Founder and CEO of Array. “With this announcement, institutions on the Jack Henry Banno platform have four of the most popular personal finance tools within their digital experience. This is as much a win for members and customers as it is for banks and credit unions.”

The free Array offerings include:

• My Credit Manager - members and customers receive a free one-bureau credit report and score. They can also upgrade to a paid version that provides a three-bureau credit report with many powerful features to help users understand their credit and learn how to improve it.
• Identity Protect - a free identity protection profile that notifies consumers when their compromised or stolen personal information is found. Members and customers can upgrade to a full premium version that can restore stolen personal information through comprehensive identity restoration services and provide ongoing protection with identity theft insurance**.
• Privacy Protect - a free online privacy tool that scans dozens of data brokers and people search sites in real-time to reveal where users have exposed personal information. Members and customers can also upgrade to a paid subscription that provides ongoing continuous monitoring and removal of personal information from hundreds of sources, including data brokerages and people search sites. If a data breach occurs, Privacy Protect alerts customers to inform them if they are impacted.
• Subscription Manager - an online subscription management tool that helps members and customers view their active recurring subscriptions. A full paid version of Array Subscription Manager enables them to cancel and can provide hundreds in savings.

“Financial institutions are seeking new opportunities to replace the non-interest fee income from overdrafts and processing fees that are in sharp decline,” said Mario DeLecce, Head of Financial Institutions at Array. “The speed at which banks and credit unions can make this transition depends on how rapidly they can create these new streams. We’re now providing the fastest path for thousands of institutions to make this happen.”