Jack Henry has acquired Victor Technologies, a cloud-native, API-driven provider of embedded payment solutions, from MVB Financial Corp.
The move aims to expand Jack Henry’s capabilities in the PaaS market, in which banks embed payment services into non-bank brands. Victor processes billions of dollars in payments monthly and now offers Jack Henry’s financial institution clients improved capabilities to serve fintechs and commercial customers, grow deposits, and diversify revenue.
More about the acquisition
Victor has had an established partnership with Jack Henry since its inception and expressed positive feelings regarding the acquisition. With emerging markets, such as stablecoins, RTP/FedNow, and AI-driven commerce, experiencing rapid growth, speed and scalability are key, according to the company.
As the PaaS market is projected to grow from USD 19.1 billion in 2025 to USD 43.9 billion in 2029, the acquisition advanced Jack Henry’s technology modernisation strategy to help banks and credit unions compete through improved developments and cloud-native solutions. With the acquisition, the company gains a high-volume embedded payments platform that is scalable and creates more revenue streams, improves its capabilities, and offers more immediate opportunities to get into emerging solutions like stablecoins.
Victor is already integrated with Jack Henry's SilverLake core bank system and JHA PayCenter, with plans to expand its features and serve the Symitar credit union and treasury management platform clients, integrating directly into the cloud-native Jack Henry Platform. Victor offers real-time payment processing and virtual ledgering to support financial institutions in serving customers across multiple payment types and vertical markets. Currently, it delivers disbursements, receivables, cross-border, escrow, title, and ecommerce, with support for virtual accounts and digital wallets.
Victor’s integration with Jack Henry’s banking core offers customers more control and visibility with near real-time reconciliation and overdraft risk reduction, as well as a single source for compliance reporting and money movement. The terms of the transaction have not yet been disclosed, as Jack Henry expects the acquisition to be minimally dilutive to GAAP EPS for the remainder of fiscal 2026 and fiscal 2027 and become accretive in fiscal 2028.
