Chimney collaborates with Jack Henry to revolutionize how financial institutions engage with homeowners
Community and regional financial institutions can now show home value, home equity, educational resources, and personalized guidance and offers within their banking app
NEW YORK, NY (October 7, 2024) — Chimney™, a fintech company transforming how financial institutions use property data, announced that its product suite, including its newest innovation, Chimney Home, is now accessible through the Jack Henry™ digital banking platform.
Chimney leveraged the Banno Digital Toolkit™, the same set of APIs the Banno Digital PlatformTM is built on, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry’s API, design, and authenticated frameworks has enabled Chimney to directly integrate into the digital banking platform providing a seamless banking experience. This integration contributes to Jack Henry’s growing ecosystem of over 1,000 fintechs, providing approximately 7,500 financial institutions with relevant financial products and services for their accountholders.
Using Chimney’s embedded financial tools, financial institutions can engage more account holders digitally, generate deposits and fund more loans with intelligent recommendations that guide users to the right products. Financial institutions will also have access to Chimney Home, which is designed to elevate the online banking experience for homeowners by giving them the tools, data and insights they need to manage their biggest investment: their home. Financial Plus Credit Union is one institution already in the process of implementing Chimney’s financial tools.
“Financial education is key—and our partnership with Chimney will soon empower homeowners with personalized financial insights, helping them reach their financial goals by delivering the resources they need to maximize their home’s value and equity,” said Jessica McNier, SVP of Technology & Innovation at Financial Plus Credit Union. “By embedding these tools into our digital banking experience, we’ll help enable our members to make more informed financial decisions with confidence.”
Rachelle Kippe, SVP of Lending at Financial Plus Credit Union added, “At Financial Plus, we’ve traditionally served homeowners through a cross-department strategy that combines mortgage lending, marketing, digital, and member service. With the upcoming implementation of Home Value+, powered by Chimney, we’ll connect these efforts to create an omnichannel experience that enhances access for homeowners, making it easier for them to engage with our Mortgage services while improving operational efficiency for our team.”
Chimney Home provides homeowners with actionable advice about their home value, home equity, borrowing power and pre-qualified offers – embedded within the digital banking channels today’s customers prefer. As a result, financial institutions can better engage homeowners with proactive product offers, which is key in the booming home equity market.
“For many years, financial institutions have lacked the resources needed to personalize product recommendations for homeowners. At the same time, getting approved for a home equity loan is a big feat, sometimes taking months and causing frustrations for many consumers. That’s why we created Chimney Home,” said Matthew Covi, co-founder and CEO of Chimney. “By combining financial health data and blending it with a homeowner’s property data, we’re empowering financial institutions to make more personalized loan recommendations in the fiercely competitive home equity space and allow account holders to take action on those recommendations right within their digital banking app. We’re thrilled to announce our integration with Jack Henry and to embed our Chimney Home technology into Jack Henry’s digital banking platform and their growing ecosystem.”
About Financial Plus Credit Union
Since 1952, Financial Plus has been putting today’s needs and tomorrow’s dreams all within reach. Owned by over 82,000 members with more than $1.4 billion in assets, the credit union provides a full range of modern, easily accessible banking products and services to all throughout the state of Michigan. For more information, visit myfpcu.com or call (800) 748-0451.
About Jack Henry & Associates, Inc.
Jack Henry (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at http://www.jackhenry.com.
About Chimney
Millions of homeowners use Chimney’s tools and APIs to track home value, understand borrowing power, and easily access home equity – all right within their banking app. With its embedded financial platform, Chimney gives homeowners the personalized guidance and insights they need, when they need it, to make smarter financial decisions. By leveraging open bank data, Chimney’s platform enables financial institutions to engage homeowners with proactive product recommendations and other embedded offers unique to each homeowner’s financial situation. Chimney’s homeownership platform is the latest addition to the company’s product suite, which includes its award-winning financial calculators. Winner of the FinovateSpring 2021 Best of Show, Chimney’s solutions are built for the digital age – designed to engage and win more customers, capture better customer data and move leads faster. That’s why the company is trusted by over 80 of the top financial institutions nationwide, including banks, credit unions and lenders.
