Jack Henry & Associates, Inc. (NASDAQ: JKHY) said it has completed the acquisition of Banno, an Iowa-based company that provides data-enriched web and transaction marketing services with a focus on the mobile medium as its principal means of delivery.
Founded in 2008 in Cedar Falls, Iowa as T8 Webware, Banno´s technologies have helped financial service providers and their customers identify, engage, and retain their most valuable relationships.
JHA and Banno initially collaborated in July of 2013 when JHA´s ProfitStars division partnered with Banno to sell its highly successful Grip mobile application. ProfitStars white labeled the product as Andiamo and began realizing rapid success among its non-core clients who had been seeking new mobile banking alternatives. As the partnership flourished, additional operational commonalities were identified particularly in the areas of Web design and hosting and Banno emerged as an obvious cultural fit for JHA.
Banno is headquartered in Cedar Falls, Iowa and also has a location in Des Moines, Iowa. Operations and management teams will continue at both locations following the acquisition.Its website is at www.banno.com.
Jack Henry & Associates is a provider of computer systems and electronic payment solutions primarily for financial services organizations. Additional information is available at www.jackhenry.com.