Prevail Bank has selected Jack Henry to support its digital banking, payments, and financial crimes technology.
Prevail Bank is a US-based mutual bank serving communities across central and northern Wisconsin. As a mutual institution, the bank reinvests in its employees, customers, and local communities, and is currently expanding its commercial and small business banking activities within its existing markets. The bank has also stated it is focused on growing deposits, improving operational efficiency, and competing with larger banks and fintech companies.
Technology scope and AI capabilities
To support these objectives, Prevail Bank has selected several Jack Henry products. The Banno Digital Platform will provide the bank's digital banking interface, including authenticated customer communications through Banno Conversations. Tap2Local is intended to help the bank's small business clients accept digital payments, supporting Prevail Bank's deposit growth strategy. Enterprise Workflow will be used to automate manual internal processes, while Jack Henry Financial Crimes Defender will support fraud detection and compliance with the Bank Secrecy Act (BSA).
In addition, Jack Henry's open ecosystem, which allows integration with more than 1,000 third-party fintech providers, was cited as a factor in Prevail Bank's decision, giving the bank scope to add further fintech partnerships over time.
AI capabilities embedded across Jack Henry's platform also featured in the bank's evaluation. Jack Henry has previously introduced AI-assisted drafting of Suspicious Activity Report (SAR) narratives within Defender, which the company states saves at least one hour per suspicious activity investigation, allowing fraud investigators to spend more time on further analysis.
Strategic rationale
According to Nathan Quinnell, President of Prevail Bank, the selection reflects a need for a technology provider with a consistent delivery record and the capacity to support the bank's growth plans, alongside the flexibility to establish third-party partnerships. The bank's president added that Jack Henry's ongoing AI development was a factor in the decision, with potential future applications spanning lending processes, process acceleration, and customer notifications.
Jonathan Baltzell, President of Bank Solutions at Jack Henry, said the partnership was intended to support Prevail Bank's combination of relationship-based service and operational modernisation, through open technology and continuous product development.
The agreement adds Prevail Bank to Jack Henry's client base of community and regional financial institutions that use its core, digital, payments, and financial crimes technology, as the bank continues its digital and operational modernisation programme.
