Jack Henry & Associates, Inc. (JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry.
Its Symitar® division announced today that $1.3 billion Indiana Members Credit Union has selected Episys® for in-house core processing. More than 35 percent of U.S. credit unions with more than $1 billion in assets are now automated by Episys, which also has the largest market share of credit unions with assets exceeding $50 million.
After many years with its current core provider, Indiana Members Credit Union needed a more sophisticated core platform, but was hesitant to make any changes that would infringe on its member experience and the daily activities of its employees. The credit union selected Symitar because of its corporate stability, reputation for efficiently managing the entire conversion process, and its commitment to continued research and development. Indiana Members Credit Union promotes a philosophy of "Keeping It Simple" for all of its processes and services, and Symitar can deliver a core platform adhering to that principal.
Ron Collier, CEO at Indiana Members Credit Union, said, "We have a commitment to provide members with consistent, superior service. They should not be bothered by the fact that we are changing core processors and Symitar understands that. We look forward to expanding our relationship with a partner that takes our members' needs to heart in terms of dependable delivery and innovation."
Collier added that he is excited about the openness of Episys and expects it to improve how members conduct business with the credit union. Episys' functionality will enable employees to be more efficient and enhance member service. Symitar also encourages client input and incorporates that feedback into its evolving technology plan. Collier appreciates that his credit union's recommendations have the potential of enhancing his technology platform as well as benefiting the entire Episys community.
According to Ted Bilke, president of Symitar, "Many credit unions avoid core conversions as long as possible and usually to their detriment. But Symitar has developed a time-tested change management process that is executed by seasoned experts and supported by production-proven processes and constant communication. We have successfully converted hundreds of diverse credit unions to-date, and our ultimate goal for each one of those conversions is to make it virtually transparent to credit union members. We want our clients to celebrate the new functionality and flexibility delivered from installing our enterprise-wide technology platforms."