Old Missouri Bank to Launch New Digital Bank Using Jack Henry Technology

Old Missouri Bank (OMB) has selected U.S. banking technology heavyweight Jack Henry & Associates to provide banking software for its new digital bank, which will launch in early 2023.

Old Missouri Bank to launch new national digital bank in 2023

OMB hopes to reach customers across the country with its new business, offering banking services to individuals, SMEs and businesses.

Stephen Bishop, chief operating officer at OMB, said the bank had “very ambitious growth plans.”

“This new business plan will position our community bank to double or even triple our assets over the next three years,” he says.

According to Jack Henry, “Adding new features and functionality to the bank’s old banking platform has proven to be too expensive and time consuming.” At the same time, the publisher’s solutions offer an “open and flexible” infrastructure, “allowing the bank to access a variety of fintechs, thus creating a unique and competitive ecosystem”.

In addition to the Jack Henry banking system and the Banno digital platform, OMB will leverage Jack Henry’s digital loan, deposit, payment and cash management solutions.

“We never question the dedication and hard work that it takes to get the job done, and we see it in Jack Henry as well,” Bishop comments. “The company is aligned with our vision of growth and modern banking and truly understands our commitment to the community. “

Sylvia B. Polson