Splitit has integrated its bank-linked installment payment platform with Jack Henry’s SilverLake core banking system and Banno Digital Platform through the Jack Henry Fintech Integration Network. The integration gives financial institutions using Jack Henry’s infrastructure immediate access to Splitit’s installment payment technology, which allows consumers to pay in installments using existing credit cards without additional loans or credit checks.
This partnership enables regional banks and credit unions on the Jack Henry platform to offer embedded payment flexibility directly to their customers, potentially strengthening customer retention and transaction volumes. Financial institutions can now deploy buy-now-pay-later functionality without building proprietary solutions or partnering with standalone fintech competitors. The move positions Splitit to tap into Jack Henry’s extensive network of community and regional banking clients across North America.
For payment processors and fintech platforms, this signals continued consolidation of BNPL services into traditional banking infrastructure rather than operating as separate ecosystems. Banks using competing core systems may face pressure to offer similar integrated installment solutions.
FXnCO Insight
Financial institutions on Jack Henry platforms gain competitive BNPL capabilities that could drive card transaction volumes and customer stickiness in an increasingly fintech-driven payments landscape.
Source: Finextra