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SOURCE Jack Henry & Associates, Inc.
- $1.5 billion credit union bases Episys decision on functional and operating advantages -
MONETT, Mo., Oct. 31, 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 $1.5 billion State Department Federal Credit Union has selected Episys® as its in-house core processing solution.
According to Floyd Matsuda, chief information officer for State Department Federal Credit Union, "Several of our key management staff and executives, including our CEO, have previously worked at credit unions automated by the Episys system. Based on this collective first-hand experience doing business with Symitar and the real-world experience with the functional capabilities and the virtually unlimited customization opportunities that Episys provides, converting State Department Federal Credit Union to Episys becomes a key component of our technology and growth strategy. Episys provides an array of functional and operating advantages that simply do not exist with other core systems. And Symitar consistently provides a competitively distinct partnership approach with its clients. We are excited to convert to Episys and to capitalizing on the benefits we know this leading-edge system will generate day-one."
State Department Federal Credit Union is Episys' 77th client with more than $1 billion in assets. There are currently 196 credit unions with assets exceeding $1 billion.
According to Ted Bilke, president of Symitar, "We welcome the opportunity to support State Department Federal Credit Union with the technology that will drive its evolving business strategies and its responses to new growth opportunities, industry trends, and dynamic member and market demands. We consider every addition to our client roster as an important endorsement of our product and service quality, but there is nothing more rewarding than when credit union executives and associates move to other institutions and become proactive, internal advocates for moving to Symitar technology. Our fundamental goal is to provide a customer experience that truly differentiates Symitar, Episys, and our complementary solutions."
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 11,300 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.
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