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TheStreet Open House

Kitsap Credit Union Selects Symitar's Episys System

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.

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