Symitar, Synergent Broaden Scope of Core Processing Partnership
-- CUSO expanding Episys services to credit unions beyond the Northeast --
MONETT, Mo., Dec. 6, 2017 /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 the expansion of its successful 15-year partnership with Synergent, a credit union service organization (CUSO).
Based in Portland, Maine, Synergent serves more than 200 credit unions with comprehensive operational solutions, exclusively offering the Symitar Episys® system for core processing. The Symitar-Synergent collaboration consistently gains new core footprints, with the average core processing agreement exceeding nine years, and boasts a 100 percent client retention rate on the Episys platform. While Synergent's focus has been on growth in the Northeast, the organization will now pursue new opportunities for Episys throughout the United States.
Todd Mason, CEO of Synergent, said, "We believe Symitar's Episys to be the most powerful, stable, and flexible core processing platform available, and we are committed to growing the number of credit unions that can experience its benefits. Credit unions must stay up to date on the channels their members are using, and provide the most relevant products and services on those channels. Innovation and integration with the core doesn't just happen, it occurs through intelligent partnerships – like this one – that reinforce and strengthen the experience to help credit unions accomplish their goals while providing unsurpassed member service."
Synergent operates in a high-tech, service-focused environment featuring around-the-clock security and data usage monitoring. What makes the Episys experience unique at Synergent is the network of additional resources the organization offers credit unions – programming, marketing, analytics, and payment solutions – while providing a seamless, end-to-end solution to help credit unions succeed and improve the financial lives of members.
Ted Bilke, president of Symitar, added, "Our organizations enter into this new stage of partnership with a mutual commitment to delivering beneficial solutions to credit unions so that they can provide the kind of member experience that is demanded in today's financial services environment. Synergent is a proven supporter of our technology and the Symitar brand, and we are excited to have this team take Episys even further."
Currently, Synergent has 67 credit unions outsourcing their core processing to Episys. The organization also offers credit unions complementary solutions from Jack Henry & Associates, including Synergy Enterprise Content Management™ and iPay Solutions™ bill pay.
About Synergent
As a service provider serving only credit unions, Synergent has provided comprehensive operational solutions to its credit union partners for nearly 45 years. Synergent provides credit unions with Technology Services, offering the Episys Core Processing Platform by Symitar. Synergent also provides credit unions with Shared Branching, Statement Processing, Payment Solutions, Programming, and Marketing Services, dedicated to helping credit unions develop deeper member relationships through targeted marketing with data mining. For more information on Synergent, visit www.synergentcorp.com, or call 1-800-341-0180.
About Symitar
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), is a 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 technology solutions and payment processing services primarily for the financial services industry. Its solutions serve approximately 9,000 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 a 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.
