Unique cloud-native solution enables immediate, secure money movement
Banks and credit unions across the U.S. are responding positively to Jack Henry Rapid Transfers, a new cloud-native solution designed to make moving money faster and easier for consumers and small businesses. Built by Jack Henry in collaboration with Moov, the solution allows accountholders to instantly pull funds into their primary bank or credit union accounts from external institutions, including fintech apps, neo-banks, brokerages, and even crypto exchanges.
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Rapid Transfers uses established debit card rails through integrations with Visa Direct and Mastercard Move, giving users a secure and familiar way to access their money in real time. Offered exclusively through banks and credit unions, the solution helps traditional financial institutions meet growing consumer expectations for speed and convenience capabilities that have often been associated with fintech platforms.
For banks like Wisconsin-based IncredibleBank, Rapid Transfers has become a strategic tool to strengthen customer relationships and reclaim business lost to fintech competitors. According to Philip Suckow, Senior Vice President of Strategy and Innovation, instant money movement is now essential to becoming the central financial hub for customers. He notes that today’s digital experience must seamlessly connect budgeting tools, payments, account aggregation, and fast access to funds.
Credit unions are seeing similar benefits. Magnolia Federal Credit Union in Mississippi introduced Rapid Transfers as a way to drive deposit growth and expand membership. Adam Serio, Vice President of Information Security and Technology, shared that members value how simple and immediate the service feels, making it easier for the credit union to attract and retain deposits in a lending-focused market.
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Since its rollout began in September, Rapid Transfers is already live at 65 financial institutions, with another 170 in various stages of implementation. The solution is fully integrated with the Banno Digital Platform™, Jack Henry’s digital banking ecosystem that serves more than 1,000 financial institutions and over 15 million users. This tight integration ensures a consistent, intuitive experience—especially for customers who depend on digital banking for everyday income and transactions.
Jack Henry sees Rapid Transfers as a response to long-term shifts in consumer behavior, particularly among younger generations. Abby Wood, Assistant Vice President of Digital at Jack Henry, emphasized that Gen Z’s strong preference for debit-based payments is reshaping the industry. By enabling instant, debit-driven transfers, banks and credit unions can deepen loyalty while positioning themselves for future growth.
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From Moov’s perspective, the impact is equally clear. CEO and co-founder Wade Arnold explained that when customers can instantly move funds from fintech apps and digital wallets into their primary bank accounts, everyone benefits. Rapid Transfers helps community financial institutions reclaim their role at the center of customers’ financial lives—transforming them from secondary options into the main destination for managing money.
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