Jack Henry & Associates, Google Cloud to Help Banks Offer Tokenized Deposits

MT Newswires Live
10/16

Jack Henry & Associates (JKHY) said Friday it expanded its collaboration with Alphabet's (GOOG, GOOGL) Google Cloud to enable banks and credit unions to offer tokenized deposits through Google Cloud Universal Ledger.

Tokenized deposits are expected to help banks retain deposits, offer clients near real-time settlements and maximize capital efficiency.

The integration will also help financial institutions explore new transactional use cases and improve digital experiences.

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