Kitsap Credit Union Selects Symitar’s Episys System
- Frontline staff and mid-level managers make desire for core change a reality -
MONETT, Mo., April 4, 2013 /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 $960 million Bremerton, Washington-based Kitsap Credit Union has selected Episys(®) for in-house core processing.
After more than 20 years on its previous core platform, Kitsap Credit Union’s mid-level and frontline managers made a strong case for changing core systems to gain competitive advantages. The credit union wanted a system that was geared toward member relationships rather than being account-centric, making cross-sale initiatives more effective and information about entire member relationships readily available. The regulatory environment of the past five years also proved Kitsap Credit Union needed a core system that anticipates such changes and allows for quick, easy compliance with ongoing regulatory mandates. The credit union also found Symitar’s Episys system to be nimble and its open architecture provided entirely new levels of functionality.
Colin Morrison, chief information officer at Kitsap Credit Union, said, “Symitar’s Episys will make it easier for our members to do business with us and optimize how we can leverage the core. It will grow with our credit union as we need, today and well into the future.”
More than 50 credit union employees were closely involved in the core decision process. While Kitsap Credit Union’s executive team was confident that Symitar would be a long-term, trusted partner with solid financial standings, the frontline staff and mid-level managers drove the technology and cultural selection. Since these individuals are the most active users of the system, management felt their input clearly helped validate Episys’ dominance over competitive offerings.
Episys will enable Kitsap Credit Union to automate many processes that once required it to develop or attempt to develop workarounds. This left the credit union operating less efficiently and required it to devote significant amounts of time that could be better invested in delivering new service options to members. Kitsap Credit Union anticipates Episys will create greater efficiency enterprise-wide, from opening new accounts and originating loans to defining and launching new products.
According to Ted Bilke, president of Symitar, “Kitsap Credit Union truly made a ‘people’s choice’ core decision. We believe our combination of deep, open system functionality; market presence and longevity; and a client-driven, progressive technology roadmap positions Symitar to meet the long-term and evolving business needs of diverse credit unions.”
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 currently serves more than 750 credit unions 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 more than 11,900 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking(®) supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar(®) is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars(®) provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. 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.
SOURCE Jack Henry & Associates, Inc.