MONETT, Mo., May 21, 2013 /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 $1.3 billion Indiana Members Credit Union has selected Episys® for in-house core processing. More than 35 percent of U.S. credit unions with more than $1 billion in assets are now automated by Episys, which also has the largest market share of credit unions with assets exceeding $50 million.
After many years with its current core provider, Indiana Members Credit Union needed a more sophisticated core platform, but was hesitant to make any changes that would infringe on its member experience and the daily activities of its employees. The credit union selected Symitar because of its corporate stability, reputation for efficiently managing the entire conversion process, and its commitment to continued research and development. Indiana Members Credit Union promotes a philosophy of "Keeping It Simple" for all of its processes and services, and Symitar can deliver a core platform adhering to that principal.
Ron Collier, CEO at Indiana Members Credit Union, said, "We have a commitment to provide members with consistent, superior service. They should not be bothered by the fact that we are changing core processors and Symitar understands that. We look forward to expanding our relationship with a partner that takes our members' needs to heart in terms of dependable delivery and innovation."
Collier added that he is excited about the openness of Episys and expects it to improve how members conduct business with the credit union. Episys' functionality will enable employees to be more efficient and enhance member service. Symitar also encourages client input and incorporates that feedback into its evolving technology plan. Collier appreciates that his credit union's recommendations have the potential of enhancing his technology platform as well as benefiting the entire Episys community.
According to Ted Bilke, president of Symitar, "Many credit unions avoid core conversions as long as possible and usually to their detriment. But Symitar has developed a time-tested change management process that is executed by seasoned experts and supported by production-proven processes and constant communication. We have successfully converted hundreds of diverse credit unions to-date, and our ultimate goal for each one of those conversions is to make it virtually transparent to credit union members. We want our clients to celebrate the new functionality and flexibility delivered from installing our enterprise-wide technology platforms."
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 currently serves more than 750 credit unions 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 11,600 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, Inc.