MONETT, Mo.– Symitar, a division of Jack Henry, reported that it secured 14 competitive core system takeaways during the first half of the company’s fiscal year 2015, which ended Dec. 31, 2014.
Symitar’s Episys platform accounted for 13 of the new clients and included two credit unions of more than $1 billion in assets, as well as several credit unions with assets less than $250 million. The company said Episys now serves more than 40% of CUs with more than $1 billion in assets, and also supports “the largest market share of credit unions on a single platform with assets exceeding $50 million.” Symitar said it added one credit union for its CruiseNet system.
Of the 14 total new core wins, 64% were decisions to have Symitar perform their processing through the outsourced delivery model; these included the one CruiseNet win, three partner wins, and five credit unions opting for EASE, the outsourced delivery solution for Episys. Symitar said it had an additional 14 existing clients choose to migrate their in-house system to an outsourced offering during this time period. Between EASE, CruiseNet, and partners, Symitar said it supports 328 credit unions in an outsourced environment.
Among the latest to convert to EASE is ILWU Credit Union in California.