Symitar, Member Driven Technologies Expand Core Processing Partnership
-- CUSO now hosting Episys platform for credit unions in the Northeast --
MONETT, Mo., Jan. 3, 2018 /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 partnership with Member Driven Technologies (MDT), a credit union service organization (CUSO).
Based in Farmington Hills, Michigan, MDT provides credit unions with a private cloud alternative for core processing and IT needs. Its client base represents more than $22 billion in assets and approximately two million members. MDT and Symitar have enjoyed a successful 15-year partnership, and the CUSO currently hosts the Episys® system for 93 credit unions. With the expansion of this relationship, MDT will now provide the Episys platform to credit unions in the Northeast region.
Larry Nichols, chief executive officer of MDT, said, "At MDT, we're committed to providing our credit union clients with the tools necessary to best serve their members and succeed, which is why we host the best-in-class Symitar Episys platform. Our partnership with Symitar has provided credit unions with powerful, flexible, and highly integrated core processing for more than a decade, and now we will be able to extend these benefits to credit unions in a new region."
MDT's hybrid approach to outsourcing allows credit unions to boost efficiencies and security while reducing costs. The CUSO maintains a private server for each credit union client, empowering them with high levels of control over their critical information and the confidence that their data is well protected. In addition to core processing, MDT offers a full range of products and services that credit unions can leverage to operate the entire institution.
Ted Bilke, president of Symitar, added, "MDT has a strong history of supporting the Episys platform, and we're excited to expand the area for member service. Together, we will continue to support the advanced core processing needed for credit unions to deliver the best member experience in today's highly competitive and quickly evolving financial services landscape."
MDT also offers a variety of complementary Jack Henry & Associates products and services to its members, including: Synergy Enterprise Content Management™, iPay Solutions™, JHA Card Processing Solutions™, Advanced Reporting for Credit Unions™, ProfitStars® CECL Analysis and Reportingsm, and ProfitStars CECL DataStore and Validationsm.
About Member Driven Technologies
MDT (Member Driven Technologies) provides credit unions with a private cloud alternative for core banking and IT needs. The CUSO's service-first, hybrid approach to outsourcing enables credit unions to gain efficiency and reduce costs while maintaining a high level of control. MDT hosts the Symitar Episys® core platform, along with seamlessly integrated solutions to run the entire institution, including digital banking, payments, lending, security, continuity and regulatory services. MDT serves credit unions representing more than $22 billion in assets and approximately two million members. Visit mdtmi.com or follow @memberdriven for more information.
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.
