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A Message From Our Team
Happy October! 🎃 Fall into our latest batch of updates designed to make managing your financial institution even smoother. This month, we're excited to highlight new features for the Banno Support app case queue, seamless browser-based key generation for developers, the launch of our new Origination Pilot & Beta Hub for lending and deposits, and so much more. Dive in below to see what's new!
Jack Henry Rapid Transfers™ Is Now Available!
After months of preparation and anticipation, it's official – Jack Henry Rapid Transfers, powered by Mastercard Send and Visa Direct, has passed beta testing and is now widely available! Your end users, whether retail or business, can now manage their real-time 'Me-to-Me' money movement needs in a flash with Jack Henry Rapid Transfers.
How It Works
On the Banno Platform, cardholders can link an external debit card to push or pull funds instantly for a range of purposes, like consolidating balances from digital wallets, funding a newly opened account, or good ol’ fashioned cross-institution transfers!
In other words, rather than waiting days for such transfers to process over traditional ACH rails, Jack Henry Rapid Transfers empowers your debit card holders to complete Me-to-Me transfers in mere seconds, letting them solve immediate access needs, well, immediately.
How to Enroll
If your financial institution hasn’t already enrolled with Moov, our partner vendor, you’ll need to do so before you can offer Jack Henry Rapid Transfers. To get enrolled, complete these steps:
- Review your core-specific pre-work using the Compliance & Onboarding guide for your platform – CIF 20/20, SilverLake, or Symitar.
- In Banno People, open the Settings menu, select Transfers, and then open the Rapid Transfers tab.
- Click Request Moov enrollment to generate your personalized onboarding link and begin the process.
No additional contracts or support tickets are required; however, should you run into any roadblocks or questions, our support team is happy to help!
For additional details, check out the Jack Henry Rapid Transfers doc on the Knowledge Base.