Medford, Wisconsin-headquartered Prevail Bank has entered into an agreement with Jack Henry to implement a suite of financial technology solutions aimed at supporting business growth and operational efficiency. The partnership focuses on modernizing the bank's infrastructure through an open ecosystem model and continuous artificial intelligence integration.
As a mutual institution serving communities in central and northern Wisconsin, Prevail Bank aims to expand its commercial and small business banking presence while increasing deposits. The bank seeks to compete more effectively against larger financial institutions and fintech companies by improving internal efficiency and customer experience.
The selected technology stack includes Jack Henry’s core processing platform and the Banno Digital Platform for digital banking services. Specific tools include Tap2Local to facilitate digital payments for small business clients, Enterprise Workflow to automate manual tasks, and Jack Henry Financial Crimes Defender to enhance fraud detection and ensure Bank Secrecy Act compliance.
Nathan Quinnell, president of Prevail Bank, stated that the bank required a provider with a history of meeting commitments and supporting growth objectives. He noted that the open ecosystem allows for integration with over 1,000 third-party fintech partners, providing capabilities previously unavailable to the institution. Quinnell highlighted Jack Henry’s service standards and shared values as reasons for the selection.
The decision was also influenced by Jack Henry’s approach to artificial intelligence. The bank cited recent updates to its fraud detection tools, which now include AI-assisted drafting of Suspicious Activity Report narratives. This feature reportedly saves investigators at least one hour per case, allowing more time for fraud prevention activities.
Quinnell emphasized the importance of choosing a vendor already embedding AI across its platform. He expressed confidence that Jack Henry’s innovation pace would improve productivity and efficiency ratios while creating future opportunities in lending and customer notifications.
