Georgia United Credit Union Migrates Symitar Core to the Cloud

Rhea-AI Summary

Jack Henry & Associates (NASDAQ: JKHY) announced that Georgia United Credit Union has transitioned its Episys core platform to Jack Henry's private cloud environment. This $1.6 billion-asset credit union aims to enhance oversight, efficiency, and stability through this move. Over 60% of Jack Henry's core credit union customers have adopted the private cloud due to its security and data resiliency, allowing credit unions to focus on IT differentiation. The migration supports rapid technological advancement and positions Georgia United for continued growth.

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• Georgia United Credit Union migrated its core platform to a private cloud, enhancing efficiency and oversight.
• Over 60% of Jack Henry's core credit union customers utilize private cloud services, indicating strong market acceptance.
• The private cloud infrastructure will enable Georgia United to access advancing technology quickly.

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• None.

MONETT, Mo., Nov. 19, 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 Georgia United Credit Union moved its Episys^® core platform to Jack Henry's private cloud environment.

The $1.6 billion-asset credit union operated with an in-house processing environment with Jack Henry for decades. Its decision to transition to a private cloud infrastructure was based largely on the level of oversight and efficiency that Jack Henry provides.

Mark Bartholomew, CIO at Georgia United, explained, "This wasn't the first time that we considered a private cloud environment, but what sealed the deal was the fail-safe redundancies and stability that Jack Henry offers. They provide a level of oversight that we cannot replicate. Our top priority is to provide a safe place for members to bank, and this reinforces our ability to be available to members whenever they might need us."

Georgia United has been growing its field of membership throughout the state both organically and through acquisitions. The credit union's long-standing partnership with Jack Henry equips it to continue steady growth while maintaining its reputation for superior member service. Operating in a cloud environment will grant Georgia United fast, open access to advancing technology, both from Jack Henry as well its other fintech partners.

Over 60% of Jack Henry's core credit union customers have selected the private cloud environment, including a growing number of larger institutions such as Georgia United. The security, data resiliency and resources provided from a cloud-based infrastructure allow credit unions to focus IT efforts on areas that differentiate them. And, credit unions have found that when moving to the private cloud environment they do not lose the configurability and openness that they value from Jack Henry.

Shanon McLachlan, president of Symitar, added, "Outsourcing your core shouldn't mean sacrificing control and ownership, but rather gaining the expertise of a skilled technology partner. Credit unions of all sizes are quickly realizing the benefits that can be gained by tapping into Jack Henry's extensive industry, technology, and security resources. Plus, the migration to our private cloud helps credit unions manage change with ease, such as adapting to virtual work environments and rapidly advancing member services. Georgia United is now well positioned to take advantage of rapidly evolving opportunities and continue its plans for growth."

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 recent development occurred with Georgia United Credit Union and Jack Henry (JKHY)?

Georgia United Credit Union has migrated its Episys core platform to Jack Henry's private cloud environment, enhancing efficiency and oversight.

How does the cloud migration benefit Georgia United Credit Union?

The migration allows Georgia United to improve oversight, increase efficiency, and access advanced technology rapidly.

What percentage of Jack Henry's customers use the private cloud?

Over 60% of Jack Henry's core credit union customers have adopted the private cloud environment.

What are the key advantages of Jack Henry's private cloud for credit unions?

The private cloud offers security, data resiliency, and allows credit unions to focus their IT efforts on differentiation.