MONETT, Mo., Dec. 20, 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 today introduced voice-enabled financial transactions to Amazon® Alexa® through its Episys® Financial Innovations Voice Experience (FIVE) solution.
Symitar Episys credit unions can now offer conversational access to accounts for a more immersive transaction experience. Members can simply speak to Alexa to conduct a wide variety of transactions such as: check account balances, transfer funds, make payments, get loan payoff amounts, cancel payment cards, and more. To make communication easy, FIVE enables members to assign a nickname to specific accounts, allowing them to initiate transactions through spoken statements such as "Transfer $50 from Savings to Checking." Members can also receive text receipts for transactions through Twilio, a cloud communications company. FIVE is secured by a single sign-on and uses layers of security to protect members.
Oak Ridge, Tenn.-based Enrichment Federal Credit Union (EFCU) was the first to launch the solution to its 41,000 members. John Merritt, CIO of $457 million EFCU, commented, "We have been watching artificial intelligence technology for years and see it as a way to further expand the personal services we offer members. We wanted to be Symitar's first credit union to implement this technology so that we could make digital transactions easier. Voice banking with Alexa does just that; it eliminates extra steps and adds convenience. Now, a member can order something on Amazon and check their balance all in the same task."
EFCU provided all of its 115 employees with an Echo Dot to learn, train, and interact with the technology prior to launching FIVE. Employees can help members set up the service with demos at any of the EFCU's nine branches. Executives report great feedback from members of all demographics; more than 200 users have implemented the skill in its first three weeks.
Ted Bilke, president of Symitar, commented, "FIVE opens the door for credit unions to be actively involved in their members' on-demand lifestyles. The convenience of voice-enabled transactions through a digital assistant means members can consult with their credit union in the midst of everyday activities, like planning their to-do lists or placing orders on Amazon. Credit unions gain a competitive advantage by implementing a financial technology that removes steps from simple processes while making their services even more readily accessible."
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 technology solutions and payment processing services primarily for the financial services industry. Its solutions serve approximately 9,000 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.