Christian Community Credit Union Selects Symitar's Episys System - Sophisticated commercial lending capabilities drive the $577 million credit union's Symitar decision -
MONETT, Mo., May 13, 2014 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar® division announced today that $577 million Christian Community Credit Union has selected Symitar EASE™, the outsourced delivery model of the Episys® core processing solution.
According to Marji Hughes, chief operating officer of California-based Christian Community Credit Union, "We had multiple goals for our new core system and based our Episys decision on the key points of competitive differentiation we identified during our evaluation. Episys is a proven system that is supporting a large, diverse, very satisfied user base. It has the functionality and flexibility we need to support our growth strategy and our members' need for competitive financial products and convenient access to those products. Episys' sophisticated commercial loan capabilities will automate the time-consuming, labor-intensive manual processes and inefficient workflow related to our church loans. Symitar's roadmap of development initiatives clearly proves its commitment to the system and provides us with the confidence that Episys can easily support our technology requirements for years to come. And Episys is backed by a company with a solid service culture, employees that genuinely care about our experience as a Symitar client, and a proven track record for seamless, well-managed conversions and implementations."
Ted Bilke, president of Symitar, said, "We welcome Christian Community Credit Union to our growing roster of credit unions that have chosen outsourced delivery of Episys. EASE enables credit unions to focus on their core competencies while Symitar performs their information and transaction processing, which generates an array of operational and financial benefits. EASE provides credit unions with access to Symitar's extensive infrastructure and sophisticated processing environment that would be virtually impossible for an individual credit union to establish and maintain on its own. EASE provides seamless, ongoing access to advancing technologies and to Symitar's industry, technology, security, and compliance experts. Outsourcing enables credit unions to eliminate the capital expenditures required for in-house installations and the need for a highly trained staff to manage and perform in-house processing and ongoing hardware and software maintenance. And EASE allows credit unions to leverage the same Episys functionality available with an in-house installation and enables them to quickly introduce new member- and market-driven products and services."
One hundred credit unions have now implemented Episys through Symitar's outsourced delivery model.
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ: JKHY), is the leading provider of integrated computer systems for credit unions of all sizes. Symitar has been selected as the primary technology partner by more than 800 credit unions, serving as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.symitar.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
SOURCE Jack Henry & Associates