MONETT, Mo., June 20, 2012 /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 more than 100 clients are now processing on a hosted version of its two core systems via its OutLink Data Center™ offering.
Both of Symitar's core systems, Episys® and Cruise®, are available for implementation in an in-house or a hosted environment. Clients can also migrate between the in-house and outsourced environments as their operations and business strategies evolve. The NCUA has tracked a growing industry-wide trend toward outsourcing, reporting that 32 percent of credit unions opted for a service bureau solution in 2011. Approximately half of Symitar's new business during that same year was with credit unions selecting hosted solutions.
Jo Ann Broderick, CEO of Pennsylvania-based First Commonwealth Federal Credit Union, explained, "We felt that we could better leverage our core investment by choosing a hosted solution. Our IT staff is relieved from traditional computer operations and can now focus more on developing new product offerings and improving service. At the same time, we can take advantage of Symitar's continual evolution in functionality as well as its open infrastructure to accommodate the best of any complementary technologies." The credit union recently decided to convert to EASE™, the Episys outsourced solution.Louisiana-based Acadian Federal Credit Union converted to Cruise in the late 90s and migrated to the OutLink Data Center in February 2012. Sandra Williams, CEO, added, "Our operations have become much more streamlined since migration. Inefficient time and resources once dedicated to balancing and administration are now in the past, saving us hours daily. An instant impact was also made on our business continuity planning, giving us peace of mind that – being in a hurricane-prone area – we have the offsite support to ensure system availability." Symitar clients preferring to outsource their core processing still benefit from the organization's comprehensive support infrastructure, focus on regulatory compliance, and the ongoing implementation of technology advancements while eliminating the capital expenditures required for in-house environments. Hosted clients also have access to the same core functionality and integrated complementary products and services as credit unions with in-house installations.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV