Jack Henry acquires Victor Technologies

Monett, Mo.-based Jack Henry & Associates acquired Victor Technologies, Inc., a cloud-native, API-first provider of embedded payments solutions founded by Fairmont, W.V.-based MVB Bank in 2021. .The move is intended to strengthen Jack Henry’s presence in the payments-as-a-service market, which is projected to more than double to $43.9 billion in 2029 from $19.1 billion this year. Financial details of the deal were not disclosed. Victor is already integrated with Jack Henry’s SilverLake core system and PayCenter platform. Jack Henry plans to extend those capabilities to its Symitar credit union clients, treasury management customers and its new, cloud-native Jack Henry Platform.Victor, which processes billions of dollars in payments monthly, offers real-time payment processing and virtual ledgering functionality to help financial institutions serve commercial and fintech customers. Its platform supports real-time disbursements, receivables, cross-border payments and other services. “This acquisition advances our technology modernization strategy to help banks and credit unions compete and win through innovative, cloud-native solutions,” said Jack Henry President and CEO Greg Adelson. “Offering a proven, high-volume embedded payments platform that is highly scalable creates diverse revenue streams, enhances our capabilities and provides more immediate opportunities to deliver emerging services like stablecoin.”Jack Henry, an S&P 500 company, provides technology solutions to approximately 7,400 banks and credit unions nationwide.Victor President Maf Sonko said joining Jack Henry will accelerate innovation. “With rapid innovation in areas like stablecoin, RTP/FedNow, and AI-driven commerce, speed and scalability are critical,” he said. “Being part of Jack Henry will enable us to build on our successful growth and accelerate the development of next-generation payment solutions.”