MONETT, Mo., March 18, 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 State Department Federal Credit Union (SDFCU) has moved its Episys® core and entire IT infrastructure to Jack Henry's private cloud environment.
SDFCU made the strategic transition to a serverless environment to enhance its overall technology infrastructure posture, as well as to create added flexibility in employees' remote work options and to better focus resources on critical trends like payments innovation. Headquartered in the Washington, D.C. area, SDFCU faces tough competition for IT talent and needs to optimize the role of its existing team. Moving all systems off premise and transferring routine maintenance and upgrades to Jack Henry allows the credit union to provide better service and be quicker to market with the solutions its members want and need.
Jay Luo, Director of Information Technology at SDFCU, said, "Our new hosted relationship with Jack Henry gives balance to our business. We can now prioritize new offerings or changes that bring real value to our members and broader community. And, we are enabling a stronger, more empowered remote workforce when we need it most."
The ability for employees to work from anywhere is a big draw for D.C. area residents, even before it became necessary with the pandemic. Having the entire network hosted in Jack Henry's private cloud makes this process much easier and more secure, without limiting the staff's performance.
By moving to a cloud-based delivery module, SDFCU also reduces IT-related operating costs. For example, the credit union was investing significant time and resources conducting regular business continuity exercises. Now, SDFCU can confidently rely on Jack Henry's extensive infrastructure and disaster avoidance and preparedness measures. Luo added, "Jack Henry's ongoing testing of its business continuity plans and processes adds no costs, protects us from disruption of service, and enables our team focus on activities that are meaningful to our members."
By outsourcing its core and network services, SDFCU also benefits from the modern technology, strict regulatory compliance, and security expertise provided by Jack Henry.
Shanon McLachlan, president of Symitar, said, "State Department Federal Credit Union is gaining a great deal of efficiency by relying on the Jack Henry private cloud for their core and IT infrastructure. Converting to a serverless environment takes the burden of disaster recovery, maintenance and recruiting IT personnel off the credit union; it provides an improved working environment for employees and allows them to focus on innovations that improve member service. This multi-billion credit union is an example of the benefits our private cloud can provide, regardless of an institution's size."
About State Department Federal Credit Union
State Department Federal Credit Union (SDFCU) was chartered in 1935 through the efforts of eight employees of the United States Department of State. Now, decades later, our membership has grown to more than 90,000 members worldwide, and we have over $2.4 billion in assets. SDFCU's membership is diverse and worldwide, with members from Department of State and from our affiliate Select Employee Groups. Our financial products include: savings accounts, mortgages, credit cards, auto loans, share certificates, interest checking options, IRAs, and much more. We also offer a wide array of services to help our members reach their financial goals: home-buying and auto-buying resources, investment services, scholarship opportunities, debt counseling, and more. SDFCU is headquartered in Old Town Alexandria, VA with six branch locations.
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 provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 8,700 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions; 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 future-ready 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: Barbara Miller, Sr. Corporate Communications Manager, (470) 306-9043
