CFG Bank Enhances Technology with Jack Henry Partnership for Sustainable Growth

CFG Bank Partners with Jack Henry to Enhance Technology Infrastructure

CFG Bank, a rapidly growing financial institution based in Baltimore, announces its collaboration with Jack Henry™ (Nasdaq: JKHY) to modernize its technology infrastructure. With over $5 billion in assets, CFG Bank has positioned itself as a leader in relationship banking, serving a diverse clientele of commercial and retail customers. The bank has seen significant growth, expanding its assets from $1 billion in 2019, primarily driven by its expertise in healthcare bridge-to-HUD lending. This strategic partnership with Jack Henry aims to bolster CFG Bank's operational capabilities and support its ambitious growth trajectory.

The implementation of Jack Henry's core processing platform marks a pivotal step for CFG Bank as it seeks to streamline its operations and enhance data management. As the bank operates with a limited branch network, the deployment of the Banno Digital Platform™ is expected to transform customer experiences by providing accessible digital banking solutions. CFG Bank recognizes that a modern technology foundation is crucial for sustaining its growth, and the integration of Jack Henry's Enterprise Workflow solution will further increase operational efficiency through the automation of manual processes. This focus on technological advancement aligns with the bank's commitment to delivering exceptional service to its clients.

CFG Bank's leadership has expressed strong confidence in Jack Henry's innovative approach. Deborah Kakaris, Executive Vice President of CFG Bank, underscores the importance of a modern technology foundation in maintaining a competitive edge within the evolving banking landscape. Meanwhile, Erik Howard, President of CFG Bank, highlights the shared values between the two organizations, emphasizing Jack Henry's entrepreneurial spirit and proactive strategy in core technology. The collaboration positions CFG Bank to leverage Jack Henry's extensive network, which includes over 950 API-integrated fintech partners, enabling the bank to scale its niche services effectively and meet the growing demands of its customers.

In addition to enhancing operational efficiency, this partnership underscores CFG Bank's commitment to relationship banking, a model that prioritizes personalized service and customer engagement. By streamlining processes and improving digital access, CFG Bank aims to foster deeper connections with its clients, ensuring that they receive the tailored solutions that meet their unique needs.

As CFG Bank embarks on this technological transformation with Jack Henry, the financial institution sets its sights on sustainable growth and innovation. This collaboration not only strengthens CFG Bank's infrastructure but also positions it to navigate the complexities of the modern banking environment, reinforcing its dedication to providing exceptional service and support to its diverse client base.