Jack Henry's Symitar Solidifies Position as the Leading Platform for Credit Unions
Jack Henry's Symitar has maintained its position as the leading platform for credit unions, according to Callahan & Associates' annual report. The platform serves over 700 credit unions across three providers and achieved the most significant growth among 28 core platforms serving credit unions with $400M+ in assets.
Symitar leads in serving credit unions with over $1B in assets, now supporting 212 credit unions - an increase of 19 from last year. It has also become the leader in the $250M to $1B asset segment. The report highlighted credit union membership growth of 2.4%, adding 3.3 million new members.
Symitar di Jack Henry ha mantenuto la sua posizione di piattaforma leader per le cooperative di credito, secondo il rapporto annuale di Callahan & Associates. La piattaforma serve oltre 700 cooperative di credito attraverso tre fornitori e ha realizzato la crescita più significativa tra 28 piattaforme core che servono cooperative di credito con oltre 400 milioni di dollari in attivi.
Symitar si distingue nel servire cooperative di credito con oltre 1 miliardo di dollari in attivi, supportando ora 212 cooperative di credito - un incremento di 19 rispetto all'anno scorso. È inoltre diventata la leader nel segmento di attivi compresi tra 250 milioni e 1 miliardo di dollari. Il rapporto ha evidenziato una crescita dell'appartenenza alle cooperative di credito del 2,4%, con l'aggiunta di 3,3 milioni di nuovi membri.
Symitar de Jack Henry ha mantenido su posición como la plataforma líder para las cooperativas de crédito, según el informe anual de Callahan & Associates. La plataforma atiende a más de 700 cooperativas de crédito a través de tres proveedores y logró el crecimiento más significativo entre 28 plataformas centrales que sirven a cooperativas de crédito con más de 400 millones de dólares en activos.
Symitar lidera en el servicio a cooperativas de crédito con más de 1 mil millones de dólares en activos, apoyando ahora a 212 cooperativas de crédito - un aumento de 19 respecto al año pasado. También se ha convertido en la líder en el segmento de activos de 250 millones a 1 mil millones de dólares. El informe destacó un crecimiento del membresía de cooperativas de crédito del 2.4%, añadiendo 3.3 millones de nuevos miembros.
잭 헨리의 심리타르는 캘라한 협회(Callahan & Associates)의 연례 보고서에 따르면 신용조합을 위한 선도 플랫폼으로서의 위치를 유지하고 있습니다. 이 플랫폼은 700개 이상의 신용조합에 서비스를 제공하며 세 개의 공급자를 통해 운영되며, 4억 달러 이상의 자산을 보유한 신용조합을 위한 28개의 핵심 플랫폼 중 가장 큰 성장을 이뤘습니다.
심리타르는 10억 달러 이상의 자산을 보유한 신용조합을 지원하는 데 앞서 있으며, 현재 212개 신용조합을 지원하고 있습니다 - 이는 작년 대비 19개 증가한 수치입니다. 또한, 2억 5천만 달러에서 10억 달러 자산 구간에서도 리더로 자리잡았습니다. 보고서는 2.4%의 신용조합 회원 증가를 강조하며, 330만 명의 새로운 회원이 추가되었습니다.
Symitar de Jack Henry a maintenu sa position de plateforme leader pour les coopératives de crédit, selon le rapport annuel de Callahan & Associates. La plateforme sert plus de 700 coopératives de crédit à travers trois fournisseurs et a réalisé la plus forte croissance parmi 28 plateformes centrales servant des coopératives de crédit ayant des actifs supérieurs à 400 millions de dollars.
Symitar est en tête pour le service des coopératives de crédit possédant plus d'un milliard de dollars d'actifs, soutenant désormais 212 coopératives de crédit - une augmentation de 19 par rapport à l'année dernière. Elle est également devenue la leader dans le segment des actifs allant de 250 millions à 1 milliard de dollars. Le rapport a mis en évidence une croissance de l'adhésion des coopératives de crédit de 2,4%, ajoutant 3,3 millions de nouveaux membres.
Jack Henrys Symitar hat seine Position als führende Plattform für Kreditgenossenschaften laut dem Jahresbericht von Callahan & Associates behauptet. Die Plattform bedient über 700 Kreditgenossenschaften über drei Anbieter und erzielte das bedeutendste Wachstum unter 28 Kernplattformen, die Kreditgenossenschaften mit über 400 Millionen Dollar an Vermögenswerten bedienen.
Symitar führt im Dienst von Kreditgenossenschaften mit mehr als 1 Milliarde Dollar an Vermögenswerten und unterstützt jetzt 212 Kreditgenossenschaften - ein Anstieg um 19 im Vergleich zum Vorjahr. Es ist auch zum Marktführer im Segment mit Vermögenswerten zwischen 250 Millionen und 1 Milliarde Dollar geworden. Der Bericht hob ein Mitgliederwachstum bei Kreditgenossenschaften von 2,4% hervor, was 3,3 Millionen neuen Mitgliedern entspricht.
- Largest market share growth among 28 core platforms
- Serves 700+ credit unions across three providers
- Added 19 new credit unions with $1B+ in assets
- Achieved leadership in $250M-$1B asset segment
- None.
Insights
Jack Henry's Symitar platform maintains its dominant position in the credit union core processing market, particularly in the important $1 billion+ asset segment with 212 credit unions, marking a 9.8% year-over-year growth in this tier. The
The platform's expansion across three service providers (Jack Henry, MDT and Synergent) reaching over 700 credit unions demonstrates strong network effects and ecosystem advantages. With credit union membership growing by
While this news reinforces Jack Henry's strong competitive position, the impact on immediate financial performance is likely moderate. Core processing contracts typically have long-term revenue visibility but also high switching costs, making market share gains gradual but sticky. The company's cloud-native modernization strategy aligns with industry trends but requires continued R&D investment to maintain leadership.
Callahan & Associates' annual report highlights market gains and sustained leadership amid industry expansion
The report included 28 core platforms serving credit unions with
More than 700 credit unions leverage Symitar across three providers: Jack Henry, Member Driven Technologies (MDT), and Synergent. The platform remains the largest core service provider for credit unions with over
Andrew Lepczyk, industry analyst with Callahan & Associates, noted that the role of a core platform has become even more crucial as members expect the better service that comes with 21st century banking technology. He predicts this expectation will continue to grow. Jack Henry shares this perspective, emphasizing that credit unions are increasingly basing their core platform decisions on modern technology capabilities and strategic plans for advancement.
Brynn Ammon, president of Credit Union Solutions for Jack Henry, said service and innovation have always been cornerstones of the company's culture.
"We have decades of experience providing the highest level of service and groundbreaking solutions to credit unions across the country, and we're building on that legacy with our cloud-native technology modernization strategy," Ammon said. "Our goal is to make cutting-edge technology easily accessible to credit unions, enabling them to meet the evolving needs of their members and drive sustainable growth."
The report also noted that credit union membership grew by
About Jack Henry & Associates, Inc.®
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.
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SOURCE Jack Henry & Associates, Inc.
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