F.C.I. Federal Credit Union Selects Symitar's CruiseNet Core System
-- $5 million institution selects Symitar to host core processing; improves efficiencies, digital capabilities --
Jun 23, 2015, 08:00 ET
MONETT, Mo., June 23, 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 F.C.I. Federal Credit Union selected and successfully converted to the CruiseNet® core processing system. The Littleton, Co.-based credit union, which has $5 million in assets, will implement CruiseNet through JHA OutLink Processing Services™ (JHA OPS), Symitar's outsourced offering.
F.C.I. Federal Credit Union executives estimate that CruiseNet will save them an average of 20 hours a month by automating manual processes. The added efficiencies will allow employees to spend more time with members. The contemporary core system enables the credit union to improve its digital capabilities, part of a broader business goal to attract younger members and improve long-term sustainability.
CruiseNet is built on .NET architecture which enables more intuitive use, improved operating efficiency, and flexibility. Its features include integrated loan collections, relationship pricing, risk-based lending and loan decisioning, accounts payable, fixed asset accounting, and customized workflows for new members, new accounts, and new loans. By outsourcing CruiseNet through JHA OPS, F.C.I. Federal Credit Union can continue to meet evolving technology requirements with minimal impact on IT resources.
Lisa McCallister, manager and board member at F.C.I. Federal Credit Union, commented, "I have worked with many core systems during my 25-plus years in financial services, and I've always been pleased with Symitar. When I joined F.C.I. Federal Credit Union last year and the board challenged me to find a new core, it became clear that CruiseNet provided the many added capabilities that we needed. Symitar's proven conversion and installation process was a first-class experience."
According to Ted Bilke, president of Symitar, "F.C.I. Federal Credit Union realizes that improving core functionality and member service is essential for the longevity of credit unions of all sizes. Its selection of the CruiseNet core processing system is evidence of the technology's efficiency and capabilities. Additionally, outsourcing CruiseNet will relieve the credit union's IT burdens while supporting its evolving digital and physical demands."
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 technology 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.
SOURCE Jack Henry & Associates, Inc.
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