Splitit and Jack Henry Launch Debit Card Installments for Banks and Credit Unions

Splitit has integrated its bank-linked installment platform with Jack Henry’s SilverLake core banking system and Banno Digital Platform. This move allows financial institutions to reclaim the Buy Now, Pay Later (BNPL) market by embedding installment options directly into debit and demand accounts, preventing the loss of transaction data and fee income to third-party providers.

What was announced

The integration is facilitated through the Jack Henry Fintech Integration Network (FIN), a framework designed to streamline the deployment of third-party products for Jack Henry’s client base. Specifically, Splitit’s debit card installment capabilities connect with the SilverLake core platform through jXchange services-based programming interfaces. These APIs provide secure access to core data and business rules while maintaining data integrity through a governed service layer that manages all interactions across the platforms.

For eligible banks and credit unions, the solution enables the offering of embedded installments to debit and demand accountholders. This allows institutions to generate new fee income and compete with standalone BNPL providers without the burden of becoming the lender of record or requiring customers to download separate third-party applications. By keeping the transaction within the bank's ecosystem, institutions retain visibility into consumer spending habits and strengthen the primary banking relationship.

The user experience is divided into pre- and post-purchase options. At the point of sale, eligible users can select installment payments in real time when shopping with participating merchants, marketplaces, or wallets. Alternatively, after a transaction is completed, Splitit’s AI-powered personalization engine can identify eligible purchases and convert them into personalized installment offers directly within the institution’s digital banking interface. In both scenarios, the accountholder remains within the trusted environment of their existing financial institution.

"Banks and credit unions shouldn't have to watch their most loyal customers leave the banking relationship every time they want more payment flexibility. Consumers increasingly expect their trusted financial institution to offer installment payments that are as seamless and embedded. Building and continuously evolving an AI-powered installment platform that keeps pace with changing expectations isn't something most financial institutions should have to do on their own. That's exactly why we built Splitit. Together with Jack Henry, we're giving banks and credit unions a faster path to innovation – one that strengthens relationships, creates new revenue opportunities and helps them remain at the center of the payment experience."

Ran Landau, CTO of Splitit.

The companies involved

Splitit is a global provider of bank-linked installment payments, specializing in a white-label platform that allows financial institutions and merchants to offer installment services using existing consumer credit lines or debit accounts. Unlike traditional BNPL providers that often issue new credit at the point of sale, Splitit’s model leverages the consumer's existing relationship with their bank, positioning the company as a partner to traditional finance rather than a direct competitor for the loan itself.

Jack Henry is a significant force in the American financial technology landscape, providing core processing and digital banking solutions to approximately 7,500 financial institutions. The company operates several key platforms, including the SilverLake core banking system and the Banno Digital Platform, which focuses on providing a modern, mobile-first experience for bank customers and credit union members. Through its Fintech Integration Network, Jack Henry facilitates a collaborative ecosystem where third-party fintechs can connect directly to its technical resources and test systems. This infrastructure is essential for mid-tier and community banks that rely on Jack Henry to provide the technological backbone necessary to compete with larger national banks and agile fintech startups.

What FF News has reported before

FF News has extensively tracked the expansion of both companies as they seek to modernize legacy banking systems and expand payment flexibility. Recently, we covered how DXC and Splitit Partner to Enable Installment Payments for 300+ Million Bank Account Holders, a move that similarly aimed to scale installment capabilities globally. Jack Henry has also been active in diversifying its ecosystem through strategic integrations. We reported on how Jack Henry Strengthens Wealth Management Services with Bits of Stock and their collaboration with Feedzai, where Feedzai and Jack Henry Win Silver Medal for Joint AML and Fraud Transaction Monitoring Innovation. Furthermore, the demand for Jack Henry’s infrastructure remains high, as seen when a Traditional Bank Chooses Jack Henry for Modern, Open Technology Platform to upgrade its digital offerings.

What this means

This integration represents a significant defensive and offensive move for traditional financial institutions. For years, banks have watched "Pay Later" apps erode their primary relationship with consumers, siphoning off valuable transaction data and interchange fees. By embedding these services directly into the core banking experience, the industry is signaling that BNPL is no longer a standalone product but a standard feature of modern deposit accounts. This puts significant pressure on pure-play BNPL providers who lack the low-cost deposit funding and deep historical data of traditional banks. The question for the sector now is whether banks can market these features effectively enough to win back users who have already formed habits with third-party apps.