1st United Credit Union Builds Relationship with Jack Henry

Rhea-AI Summary

Jack Henry & Associates (NASDAQ: JKHY) announced that 1st United Credit Union has selected its Episys core platform and Banno Digital Platform. This partnership aims to enhance member services by offering a flexible, customizable banking experience. The $1.2 billion credit union anticipates immediate efficiency gains and a new level of integration across services, particularly in bill pay. Joanna Uhl, CIO of 1st United, expressed confidence in Jack Henry's innovative solutions, while Shanon McLachlan of Symitar emphasized the importance of innovation in financial services.

Positive

• 1st United Credit Union chose Jack Henry's Episys and Banno Digital Platform for improved member services.
• The partnership is expected to generate immediate efficiency gains for the $1.2 billion credit union.
• Enhanced integration across services will elevate member engagement, particularly in bill pay.

Negative

• None.

MONETT, Mo., Aug. 27, 2020 /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 that California-based 1^st United Credit Union has selected Episys^® as well as the Banno Digital Platform™ to deliver a personal, human-centered service that puts its members first.

1^st United recognized the need for flexibility and customization beyond what its current core could offer. Being situated in the Silicon Valley area, the credit union's members have high expectations for financial services that are innovative, intuitive, and instantly ready to use. With Jack Henry, 1^st United will gain a distinctly configurable platform technology that is open to integration through a single API gateway to provide better feature functionality at a faster speed that continuously evolves to make way for the future of banking.

Joanna Uhl, chief information officer at 1^st United, said, "Jack Henry has the experience, stability and proven conversion successes to support our credit union's needs for the long term. The team is willing to do whatever it can to deliver on the products and services our members desire. That attitude pours into the technology. We know that Jack Henry will continue to invest in moving its platforms forward, taking us with them and never letting any feature functionality go stale. As we look toward the future, we know anything is possible as long as you have great solutions and the right people behind them."

The $1.2 billion-asset credit union will run its core through Jack Henry's private cloud environment. 1^st United expects to see efficiency gains from day one for its team, which will directly translate into more offerings and enhanced service for its members. The credit union is particularly excited to engage in the PowerOn Marketplace^® to create and share custom core content with other credit unions. Its conversion to Jack Henry will also provide a new level of integration, particularly across services like bill pay, which will help elevate adoption and usage among members.

For similar reasons, 1^st United chose the Banno Digital Platform for the personal, member-centered experiences it wanted for its members. Uhl added, "There is a unique passion and foresight poured into this digital suite. The intuitive nature of it makes digital interaction easy and enjoyable. We have been trying to get more members engaged with us through various remote services while still providing the personal service we have become known for, and the availability of this platform will help advance that goal."

Shanon McLachlan, president of Symitar, commented, "Being in the financial services industry for more than four decades, we've accumulated valuable knowledge and resources that we're proud to share with our partners and client community. It's also shown us the need to constantly innovate and remain forward looking, delivering products and services that help credit unions build their membership and become future-ready."

About Symitar 
Symitar, a division of Jack Henry & Associates, Inc.^®, is the 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 (NASDAQ:JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 8,700 clients nationwide through three divisions: Jack Henry Banking^® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar^® provides industry-leading solutions to credit unions of all sizes; and ProfitStars^® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? 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. 

JKHY-SY 

 

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SOURCE Jack Henry & Associates, Inc.

FAQ

What platforms did 1st United Credit Union select from Jack Henry?

1st United Credit Union selected the Episys core platform and the Banno Digital Platform.

What are the expected benefits for 1st United Credit Union by partnering with Jack Henry?

1st United expects efficiency gains, improved service offerings, and enhanced integration, especially in bill pay.

When was the announcement made regarding 1st United Credit Union's selection of Jack Henry's platforms?

The announcement was made on August 27, 2020.

What is the significance of the partnership between 1st United Credit Union and Jack Henry?

The partnership aims to provide innovative, customizable banking solutions that enhance member service and engagement.