MONETT, Mo., April 14, 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 Florida Credit Union has selected Episys® for in-house core processing.
After more than 25 years on its previous core, Gainesville-based Florida Credit Union sought a platform that would improve efficiencies, work well with its other technology vendors, and keep up with the marketplace for years to come. Mark Starr, CEO at the credit union, explained, "Symitar is getting the lion's share of conversion wins; I am confident in the company's culture and its economies of scale to continue enhancements well into the future. Episys will bring us one huge step forward in overall functionality as well as performance with third-party vendors."
Episys' open architecture integrates with hundreds of vendor applications and offers credit unions the option to independently add on additional offerings with ease, encouraging rapid adoption of new technologies. Starr said that many of Florida Credit Union's software vendors have commented that the Episys platform allows for a more complete integration, and as a result improves functionality.
The efficiencies gained through Episys will also help position Florida Credit Union to meet its aggressive growth goals. The credit union grew twice as fast as the industry average in 2014, and expects to have more than $1 billion in assets within four years. Florida Credit Union appreciated Episys' experience with larger institutions; Episys boasts the most client credit unions in assets exceeding $50 million on a single platform, and supports more than 40 percent of the U.S. credit unions with assets exceeding $1 billion.
Starr added, "We have a lot of growth opportunities in sight. Episys will give us the services required to win new business and best meet our members' needs. Furthermore, we know that the platform has the maturity and flexibility to support our growth."
Ted Bilke, president of Symitar, said, "Credit unions are upgrading many of their technologies today, and everything from CRM systems to mobile banking is impacted by the core. At Symitar, we encourage credit unions to offer the best solutions for their business needs and will work with them to build a stronger and more functional technology platform. Florida Credit Union is a great example of a business that was hindered by an outdated core platform; we're excited about the opportunity to position the credit union not only for immediate success, but also significant long-term growth."
About Symitar
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 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 computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve almost 11,300 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 the 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.
