Splitit has integrated with Jack Henry's SilverLake and Banno platforms via the Fintech Integration Network.
The network is designed to allow Jack Henry's bank and credit union customers to deploy third-party financial products through a standardised access route.
Technical integration and scope
Splitit's debit card instalment functionality connects to SilverLake through jXchange, a set of services-based programming interfaces that give third-party fintechs and financial institutions access to core banking data and business rules. According to the companies, these interfaces route interactions through a service layer intended to govern data exchange and maintain consistency across connected systems.
Through this integration, banks and credit unions using Jack Henry's core infrastructure can offer embedded instalment options directly to debit and demand deposit accountholders. The companies stated that this allows financial institutions to generate fee income from instalment transactions and compete with dedicated BNPL providers, without developing proprietary technology, taking on the role of lender of record, or requiring customers to use a separate third-party application.
Positioning against third-party BNPL providers
The companies framed the integration as a way for banks to retain elements of the customer relationship that can otherwise move to external BNPL providers, including transaction visibility, fee income and account engagement. Splitit's white-label platform is intended to let financial institutions offer instalment payment flexibility at the point of checkout and after a purchase has been made, while the transaction remains within the existing banking relationship.
Ran Landau, CTO of Splitit, said that financial institutions increasingly need to offer instalment payment options comparable to those provided by standalone BNPL services, and that maintaining and updating such a platform independently represents a significant undertaking for many banks and credit unions. He added that the partnership with Jack Henry is intended to give financial institutions a route to offering these capabilities while retaining the primary accountholder relationship.
The integration supports two use cases. At checkout, eligible accountholders can select instalment payments in real time with participating merchants, marketplaces, and digital wallets. After a purchase, eligible transactions can be converted into personalised instalment offers through Splitit's instalment personalisation engine, presented within the financial institution's own digital banking interface.
Access through the Fintech Integration Network
Jack Henry's FIN provides participating fintechs with direct access to the company's technical resources and test systems, intended to reduce the steps required for integration with Jack Henry's core platforms. Jack Henry has stated that the inclusion of a fintech in the FIN does not constitute an endorsement of that company's product.
The integration adds to the range of third-party payment capabilities available to Jack Henry's bank and credit union customers through the SilverLake and Banno platforms, as financial institutions continue to evaluate how to offer instalment payment options without ceding transaction data and fee income to external providers.
