CFE Federal Credit Union Live with Symitar
-- $1.4 billion credit union gains competitive advantage, functionality, automation with Episys --
MONETT, Mo., Sept. 10, 2015 /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 CFE Federal Credit Union is live with Episys® for in-house core processing.
According to Kevin Wright, SVP of information technology at CFE Federal Credit Union, "Partnering with Symitar ultimately means that our institution is not limited by technology. The openness of the Episys system offers the flexibility for us to pursue any avenue that delivers a competitive advantage and supports our long-term growth goals. It was important for us to select a core provider that could drive this strategic movement, so that we can provide both our staff and our members with superior functionality and automation. Through this partnership, we have been able to change the way we operate IT, eliminating nearly 90 man hours each month in processing time; giving those hours back to our staff has been greatly appreciated."
Episys' open architecture integrates with hundreds of vendor applications and offers credit unions the option to independently add on additional offerings with ease, encouraging rapid adoption of new technologies.
In addition to partnering with Symitar for Episys, CFE Federal Credit Union will also implement several complementary solutions for further cohesiveness and functionality: ImageCenter™ for Check 21 processing; RemitPlus® Remittance/Lockbox™; Synergy Document Management™; Synapsys® for customer relationship management; and Advanced Reporting for Credit Unions™ (ARCU) for data warehousing and reporting. Wright continued, "Added reporting capabilities has removed a data bottleneck and allowed a larger set of information from which to pull – enabling us to provide a faster reaction. We couldn't be more pleased with the interaction between these solutions. Synapsys alone is bringing in more business with home banking and account opening; we're experiencing $1 million a month in referrals already."
Ted Bilke, president of Symitar, said, "A core conversion has the potential to impact nearly every function within a credit union. Converting to Episys has given CFE Federal Credit Union a strong technology platform that directly supports its business needs and growth strategy. CFE's success with Synapsys is a testament to the value of putting great tools in the hands of people who know how to use them. We are excited about our partnership with this credit union and the opportunity to provide it with a solution that drives success."
About Symitar
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), is a 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 solutions serve almost 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. 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.
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SOURCE Jack Henry & Associates, Inc.
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