Jack Henry & Associates’ (JHA) acquisition of Geezeo, a provider of financial management solutions for consumers and businesses, is emblematic of a broader evolution in digital. Personal Financial Management (PFM) is continuing its evolution towards integrated Personal Financial Experiences (PFE). PFM’s move towards PFE can be seen in three stages:

1. Ancillary PFM: A separate module from a separate vendor, usually hidden within an online banking toolbar.

2. White-labeled PFM: A third-party vendor which typically implemented into an existing digital front-end. PFM features were integrated in as widgets.

3. Fully integrated PFM/ PFE: PFM is digital banking, becoming PFE, where financial management is embedded into every experience.

Most of the major PFM vendors have for a while now sat behind an existing front-end to supply spending or other analysis. Now many are pivoting towards more direct services; offerings around data; or integrating fully into existing offerings. With the acquisition, Jack Henry gains a leg up towards providing embedded PFE for its Banno customers. Its bank and credit union clients now have access to a wider array of capabilities which will enhance digital banking in line with where Celent sees the market moving.