MONETT, Mo., March 21, 2017 /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 both VA Desert Pacific Federal Credit Union and East Idaho Credit Union have selected Symitar EASE™, the outsourced delivery model of the Episys® core processing platform.
The two credit unions opted to outsource with EASE to eliminate the need to manage hardware maintenance and upgrades. In doing so, they also gain the support of Symitar in meeting compliance objectives and can become more effective at allocating resources - allowing employees to focus on strategic member-facing activities.
VA Desert Pacific FCU is a $70 million-asset institution based in Long Beach, Calif., that wanted a core partner with more functionality than its previous provider was able to offer. It ultimately selected Symitar for its flexibility, openness to integration, and easy access to data.
Christine Wood, executive vice president of VA Desert Pacific FCU, said, "Knowledge is power; the more information we have about members, the more effectively we can address their needs. We want to be there for our members when they need us, or even before they know they need us. We expect a lot from our core provider relationship, and Symitar has the expertise and depth of power to help us meet our goals."
East Idaho CU is a $260 million-asset credit union based in Idaho Falls, Idaho. To support its recent and ongoing growth, the credit union needed a core provider that would allow it to easily expand its portfolio and add valuable products and services. After an exhaustive search, the credit union chose Symitar for the Episys platform's extensive integration and high levels of customization.
Don West, vice president of information technology at East Idaho CU, said, "While evaluating our different options, we understood that Symitar had the best product on the market to help us achieve our long-term goals. With Symitar technology, it isn't a matter of if we can do something, but rather when we can do it. Outsourcing with EASE allows us to forgo the challenges of maintaining hardware, while still allowing us to be in control. With Symitar, the sky is the limit."
Both of these credit unions are adding other Jack Henry & Associates products as well, among them Advanced Reporting for Credit Unions™ (ARCU). ARCU brings together information from multiple sources so that the credit unions have greater access to more comprehensive data, and a fuller understanding of member behavior. The credit unions will leverage ARCU for an enhanced view of operations, tracking key business indicators, and focusing decision makers on areas that need attention.
Ted Bilke, president of Symitar, added, "An increasing number of credit unions are moving to the cloud for the efficiencies, agility, and cost savings it provides. We're actually seeing about half of our new clients choose outsourcing, with existing clients also migrating over each year. With Symitar EASE, credit unions can enjoy the power and flexibility of the Episys platform while benefitting from the expertise and resources that support their long-term growth objectives."
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 more than 10,000 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.
