Jack Henry & Associates (NASDAQ:JKHY) hosted an upbeat Investor Day that showcased (1) the vision of a cloud-based, open-API banking ecosystem, (2) a financial update, reiterating its 2023 guidance, (3) the company’s next-gen solutions, inclusive of its FedNow offering, and (4) the state of the demand environment.
While reiterating its 2023 guidance, the company’s CFO provided an updated view on the drivers of the company’s normalized non-GAAP revenue growth profile, which management forecasts to be approximately 7%–8% year-over-year, factoring in conservatism due to expected softening of the consumer impacting the Payments segment (around 20%–25% of segment revenues are tied to consumer sentiment).