Partner banks and credit unions can engage and
retain a new generation of consumers by offering fractional shares
of stock as rewards for everyday debit card activity.
NEW YORK, Jan. 9, 2024 /PRNewswire/ -- Bits of Stock
announced today that its Stock Rewards Checking Account is now
accessible through the Jack Henry™ digital banking
platform Banno.
Bits of Stock's mission is to empower its
partners to engage & build loyalty with younger generations via
stock rewards
Bits of Stock leveraged the Banno Digital Toolkit™, the same set
of APIs the Banno Digital Platform™ is built on, to embed its
technology into the digital experiences offered by community and
regional financial institutions. OMB Bank, headquartered in
Springfield, Mo., was the first
community financial institution to integrate with Bits of Stock
powered by the Jack Henry platform.
Access to Jack Henry's API, design and authenticated frameworks
has enabled Bits of Stock to directly integrate into the digital
banking platform, providing a seamless banking experience. This
integration contributes to Jack Henry's growing ecosystem of more
than 950 fin-techs, providing approximately 7,500 financial
institutions with relevant financial products and services for
their account holders.
Bits of Stock enables community financial institutions and
credit unions to offer customer rewards in the form of fractional
shares of popular publicly traded stocks. The company's mission is
to empower its partners to engage and build loyalty with younger
generations through stock ownership. Similar to a cash back rewards
program, the award-winning Stock Rewards Checking Account is
embedded in the financial institution's digital banking experience
and rewards debit cardholders with fractional shares of their
active stock pick with every swipe.
"There is so much synergy for Jack Henry and Bits of Stock,"
said Arash Asady, CEO of Bits of
Stock. "Both companies are committed to finding innovative ways to
empower financial services for consumers at scale."
About Jack Henry & Associates, Inc.
Jack Henry (Nasdaq: JKHY) is a well-rounded financial technology
company that strengthens connections between financial institutions
and the people and businesses they serve. We are an S&P 500
company that prioritizes openness, collaboration, and user
centricity – offering banks and credit unions a vibrant ecosystem
of internally developed modern capabilities as well as the ability
to integrate with leading fin-techs. For more than 47 years, Jack
Henry has provided technology solutions to enable clients to
innovate faster, strategically differentiate, and successfully
compete while serving the evolving needs of their account holders.
We empower approximately 7,500 clients with people-inspired
innovation, personal service, and insight-driven solutions that
help reduce the barriers to financial health. Additional
information is available at www.jackhenry.com.
About OMB Bank
Founded in 1999, OMB Bank is committed to making banking better
for families, businesses and communities with its best-in-class
consumer, commercial, treasury, mortgage and digital banking
services. OMB is headquartered in Springfield, Mo., and operates eight
full-service branches in Ash
Grove, Buffalo,
Carthage, Mt. Vernon, Springfield and Walnut Grove as well as lending centers in
Springfield and Lenexa, Kan. Please visit www.ombbank.com for
more information.
About Bits of Stock
Bits of Stock empowers community financial institutions and
credit unions to engage next-gen account holders by rewarding them
in fractional shares of stock. Our purpose is to empower you to
engage and build loyalty with younger generations through stock
ownership. Learn more about how our first-in-class and
award-winning Stock Rewards program differentiates and keeps you
relevant to the next generation of investors. Please visit
www.bitsofstock.com for additional information.
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SOURCE Bits of Stock