Jack Henry & Associates Inc at RBC Capital Markets FinTech Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Matt Roswell - RBC Capital Markets - Analyst : I guess, that's my first question, could you provide just a very brief overview as to what Jack Henry does looking around the room? I know some people. No other company really, really well, but as I see some new faces. So just a quick.

Question: Matt Roswell - RBC Capital Markets - Analyst : You've had great demand and sales performance last couple of quarters, what do you think is driving that? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JUNE 11, 2024 / 12:40PM, JKHY.OQ - Jack Henry & Associates Inc at RBC Capital Markets FinTech Conference

Question: Matt Roswell - RBC Capital Markets - Analyst : And where are those areas of demand, thinking about your product mix, or is it lending?

Question: Matt Roswell - RBC Capital Markets - Analyst : [A] part question. I mean, you generally deal with smaller banks. And the number of banks have been going down in the US by mid-single digits annually for a long time. So is your market shrinking? And why does that number drop? Is it failing or merging? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JUNE 11, 2024 / 12:40PM, JKHY.OQ - Jack Henry & Associates Inc at RBC Capital Markets FinTech Conference

Question: Matt Roswell - RBC Capital Markets - Analyst : And then switch gears a little bit. And I guess about a year ago, you all announced a new technology strategy. I think at various times, you've called it unbundling the core modularization, it's tough work for me, could you kind of, first of all go through what it's designed to do and whether it does help it move up in terms of competing for maybe some of that top 30 banks?

Question: Matt Roswell - RBC Capital Markets - Analyst : So it's still pressure. You're still not getting the full conversion to cloud?

Question: Matt Roswell - RBC Capital Markets - Analyst : As you unbundle core, how are you thinking about pricing, where possible, self-cannibalization? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JUNE 11, 2024 / 12:40PM, JKHY.OQ - Jack Henry & Associates Inc at RBC Capital Markets FinTech Conference

Question: Matt Roswell - RBC Capital Markets - Analyst : You mentioned earlier your Banno digital product app. Can you first I'll provide a little overview of that and then get into your recently launched Banno for business, (inaudible)

Question: Matt Roswell - RBC Capital Markets - Analyst : Now, are you selling Banno to Jack Henry core banks?

Question: Matt Roswell - RBC Capital Markets - Analyst : Why you think there's is a pressure for digital banking on the commercial side of the business?

Question: Matt Roswell - RBC Capital Markets - Analyst : Let me switch gears a little bit. You're relatively new as CFO. Jack Henry just appointed a new CEO who was the COO. Should we expect any changes?

Question: Matt Roswell - RBC Capital Markets - Analyst : Putting your CFO hat on. How should the investors in this room sort of think about Jack Henry over the medium term?

Question: Matt Roswell - RBC Capital Markets - Analyst : With the tech modernization program going on, how should we think about CapEx?

Question: Matt Roswell - RBC Capital Markets - Analyst : And what about margin performance this year and then into next year?

Question: Matt Roswell - RBC Capital Markets - Analyst : I have more questions, but I'll ask the room if anyone's wish. Unidentified Participant (inaudible - microphone inaccessible)

Question: Matt Roswell - RBC Capital Markets - Analyst : I'll keep going? If we really want to hear my voice asking questions. Okay. Let's talk about the payments side a little bit. I guess 18 months ago, it was sort of the area of focus now it seems to settled down what's going on with payments, especially the pay rails acquisition, the integration of it, and it's going to be a lot of credit and credit (inaudible) issuing processing for your banks.

Question: Matt Roswell - RBC Capital Markets - Analyst : Okay, questions from the room. Unidentified Participant (inaudible - microphone inaccessible)

Question: Matt Roswell - RBC Capital Markets - Analyst : On the complementary products, the average where you have a core customer since a number of additional products that usually take.

Question: Matt Roswell - RBC Capital Markets - Analyst : Well, thank you. without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JUNE 11, 2024 / 12:40PM, JKHY.OQ - Jack Henry & Associates Inc at RBC Capital Markets FinTech Conference