Freedom Credit Union Selects Symitar
-- $673 million credit union outsources Episys core processing system to support growth while managing IT, risk management demands --
MONETT, Mo., Dec. 2, 2015 /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 Freedom Credit Union has selected EASE™, the outsourced delivery model of the Episys® core processing system.
Warminster, Pennsylvania-based Freedom Credit Union selected Symitar's outsourced delivery model because it provides the flexible and sophisticated environment that the growing $673 million credit union needs while minimizing traditional capital expenditures and the demand on internal resources. The credit union also wanted to consolidate many of its third-party solutions, including home banking and bill pay, into a single source provider. As a result, Freedom Credit Union will mitigate its vendor risk management demands while improving the cohesiveness and functionality of its digital platform.
According to John F. King, president and CEO of Freedom Credit Union, "Converting to Symitar will alleviate a great deal of regulatory and technology-based burdens from our everyday processes. EASE will provide time savings that ultimately enable us to expand our product offerings and focus on serving our more than 63,000 members."
In order to better manage its data and member relationships, Freedom Credit Union also selected Synapsys® for member relationship management; Advanced Reporting for Credit Unions™ (ARCU) for data warehousing and archiving; and Synergy Enterprise Content Management™.
Ted Bilke, president of Symitar, said, "Moving core processing into an outsourced deployment means that Freedom Credit Union will be able to reap all the benefits of the Episys system while eliminating the need for infrastructure investment and employee resources for internal management. The credit union will have the flexibility to respond quickly to member requests while delivering market-driven products and services. Freedom Credit Union joins more than 125 Episys clients leveraging our EASE platform and our wide selection of complementary products in order to increase efficiencies and improve their focus on members."
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 850 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 almost 10,900 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.
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