MONETT, Mo., Aug. 17, 2021 /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 announced that long-time Jack Henry client, Keesler Federal Credit Union, has migrated its core to Jack Henry's private cloud environment.
The $3.7 billion-asset credit union is headquartered in Biloxi, Miss., an area that has experienced several major hurricanes of late, including Zeta and Katrina. Continuity planning for such catastrophic events required substantial time and effort from the credit union. Keesler Federal selected Jack Henry's hosted model to alleviate its staff of the stress of performing updates 4-5 times a year and moving data between two physical centers for continuity planning.
Jason MacDonald, chief information officer of Keesler Federal, said, "I've always followed the saying 'do what you do well and often' and it's held true in our decision to migrate our credit union's core. Managing our hardware onsite wasn't our core competency, our team should be focused on offering better products and services to improve the member and staff experience. With Jack Henry's private cloud, we maximize resources, enhance technology, and can rest assured that we will be available to help our community in their time of need. We are committed to providing to the financial needs of our more than 270,000 members worldwide, and that service begins at home."
The reliability of Jack Henry's infrastructure sets Keesler Federal apart from its competition with significantly reduced downtime for updates and enhancements. This model increases the credit union's delivery channels, making constant, uninterrupted connectivity happen at multiple points, which is especially important should an event occur. More than 60% of Jack Henry's credit union core clients have selected a hosted model – including institutions ranging from $20 million to $4.3 billion in assets. By relying on Jack Henry for compliance, security, business continuity, disaster recovery, and hardware updates, these clients can now focus on their main competencies and growth.
Shanon McLachlan, vice president of Jack Henry and president of Symitar, added, "There's been a huge shift for large credit unions like Keesler Federal to have trusted partners manage core operations and hardware, especially given the natural, environmental and health threats over the years. The landscape is changing, and maximizing efficiency is a necessity. Heightening competition, stronger security demands and a faster pace of updates will make financial institutions race to move their infrastructure to the cloud in the years to come. Our clients are proactively taking the step now to not only remain resilient and competitive but build their business, enhance their cybersecurity and disaster posture to be future-ready."
About Symitar
Symitar, a division of Jack Henry & Associates, Inc.®, 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 700 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 (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in cloud-based digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? 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.
Analyst Contact: Vance Sherard, CFA, Sr. Director - Corporate Development & Investor Relations, (417) 235-6652; Press Contact: Heather Sugg, APR, Sr. VP, William Mills Agency, (954) 854-6203
