MONETT, Mo., March 13, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that Episys(R), the core information processing platform provided by its Symitar division, has been selected by California-based LA Financial Credit Union to provide enterprise-wide automation. This credit union, which has more than $300 million in assets and approximately 35,000 members, will install Episys in-house.
According to Barbara Nall, president and CEO of LA Financial Credit Union, "Our current system is just not getting us where we need to go. We were impressed by Symitar's large community of users, and look forward to the resources that this impressive installed base will afford us. We are confident that converting to Symitar's stable, reliable, widely implemented system -- one that was designed specifically and exclusively for the operational needs of credit unions -- is in the best interest of our members, our employees, and our business."
Kathy Hooker Burress, president of Symitar, said, "Credit union core system technology needs to be stable, scalable, and provide the flexibility to adapt to a rapidly changing environment. Episys has proven these capabilities in the largest credit unions in the industry and with the largest number of third-party vendors with real-time integration to our core. But it is important not to assume that the expected credit union functionality exists with some of the new technology providers entering the credit union industry. From the standpoint of functionality and support, Symitar offers a true credit union system that is backed by true credit union people. The addition of this credit union to our roster of more than 500 credit unions positions Symitar with a record that is unmatched. Credit unions using every major data processing system have now elected to replace their systems with Symitar and Episys -- the industry's leading technology partner and platform."
Episys is a competitively distinct, member-centric system that supports diverse credit unions by integrating highly customizable core functionality with an extensive suite of complementary products and services. This best-of-breed product approach empowers credit unions with integrated access to state-of-the-industry business intelligence, member benefits, EFT and Internet banking, risk management and protection, and item and document imaging solutions. Episys also provides the unique ability to leverage existing and ongoing technology investments with open connectivity to third-party products. This intuitive, easy-to-use system deploys browser-enabled technology, drag-and-drop transaction functionality, user-friendly toolbars, and wizard-based assistance. The ability to support customized workflows and both in-house and service bureau operating environments, and the scalable IBM(R) System p(TM) hardware platform maximize each client's long-term technology investment.
About LA Financial Credit Union
Originally chartered as Courts and Records Federal Credit Union, serving employees of the Los Angeles County court system, LA Financial Credit Union converted to a community charter in 2004. The credit union's field of membership now extends to all of Los Angeles County, making it the geographically largest community charter ever granted by the NCUA. Additional information is available at http://www.lafinancial.org.
About Symitar
Symitar, a division of Jack Henry & Associates, Inc., is the leading provider of integrated computer systems for credit unions of all sizes. Symitar currently serves more than 600 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 http://www.symitar.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions, which are now serving more than 8,700 customers nationwide, are marketed and supported through three primary brands. Jack Henry Banking(TM) supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars(R) 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 http://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.
http://www.jackhenry.com
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