Jack Henry & Associates (JKHY) Morgan Stanley US Financials Conference 2026 summary

Business overview and recent changes

• Revenue is segmented into core (31%), payments (37%), complementary (28%), and a small corporate bucket.

• Payments include card issuing, faster payments, bill pay, and embedded finance via recent acquisitions.

• Shifted focus from back-office to customer-facing innovation, building more proprietary technology.

• Emphasizes leadership in industry innovation, including stablecoins and SMB strategies.

• Celebrated 50th anniversary, highlighting a return to innovative roots.

Sales momentum and market dynamics

• RFP activity increased by about 10%, with more institutions considering switching providers.

• Win rate and deal size have grown, including a record $9.2B institution with 1.5M accounts.

• Industry disruption among competitors has created new opportunities.

• Larger deals are being won due to differentiation in culture, service, innovation, strategy, and execution.

• Pipeline includes potential deals with institutions up to $50B in assets.

Deal conversion and revenue timing

• Core deals typically take 9-12 months to close and 12-24 months to generate revenue.

• Contract term and client readiness are key factors in revenue realization.

• Moving upmarket requires credibility and references, not scalability or product gaps except in wealth management.

• Scalability is proven, with products tested up to $200B in assets.