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JKHY’s Symitar Division Boosts Credit Union Services

The technology division of ""Jack Henry & Associates, Inc."":www.jackhenry.com/ (JKHY), is experiencing an uptick in interest from credit unions, announcing that more than 16 existing credit union clients have recently opted to engage the company's outsourcing module through JKHY's ""Symitar"":symitar.com/ unit. JKHY's Symitar division encompasses both in-house and outsourced platform options, and credit unions are increasingly migrating from the in-house offering, Episys, to the outsourced version, EASE.


Currently, JKHY serves more than 100 credit unions through Symitar. During the last 18 months, the company has transitioned numerous credit unions from Episys to EASE, and seven new credit unions have selected EASE over the past six months.

""First New England Federal Credit Union"":www.firstnewengland.org/ is among the companies that have moved to the EASE platform, and the credit union's president and CEO, Michael Palladino, discussed the details of the decision, stating, ""We converted to Symitar EASE in March 2011 and that fall experienced a hurricane and October snowstorm. These storms caused the worst power


outages in our state's history, yet EASE kept debit, ATM, shared branching, home banking, and bill pay online throughout. Symitar EASE also provides great service through our client relationship manager, while retaining the best aspects of the custom automation that we put in place when we used in-house processing.""

Palladino went on to add, ""The service bureau model has worked great to keep us up, connected, and nimble in responding to changes in our business. We are positioned to take advantage of new, evolving technology trends without the staff commitment that would have previously entailed.""

Symitar's president, Ted Bike, commented on the credit unions'growing interest in the EASE system, saying, ""EASE leverages Jack Henry & Associates' extensive infrastructure and sophisticated processing environment which eliminates the significant capital expenditures credit unions need for in-house installations and ongoing hardware maintenance and upgrades.""

Elaborating on the program, Bike noted, ""It also eliminates the resident resources needed to operate and manage in-house data centers, and materially reduces disaster recovery planning and preparation and the ever-increasing regulatory burdens and concerns. It expedites credit unions' speed-to-market with new financial products and services, and enables them to dedicate their employee resources to member service and optimizing their business strategies.""

Symitar is a provider of integrated computer systems for credit unions of all sizes, and it operates as a division of JKHY. Considered a leading source of computer systems and electronic payment solutions for financial services operations, JKHY caters to more than 11,000 clients nationwide.

About Author: Abby Gregory


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