Symitar Hits a Century Mark
More than 100 of Symitar’s 750 or so credit union clients are now processing on hosted versions of its Episys and Cruise platforms through the core processor’s OutLink Data Center operation, the company said.
The San Diego-based division of Jack Henry & Associates of Monett, Mo., said the option’s growth is part of an overall trend to outsourcing from running in-house core processing software.
Symitar said about half its new business in 2011 was with credit unions selecting hosted solutions, compared with 32% for the industry overall for that year according to the NCUA.
“We felt that we could better leverage our core investment by choosing a hosted solution. Our IT staff is relieved from traditional computer operations and can now focus more on developing new product offerings and improving service,” said Jo Ann Broderick, CEO of Episys user, the $533 million First Commonwealth Federal Credit Union in Bethlehem, Pa.
The $16 million Acadian Federal Credit Union in Lafayette, La., is a Cruise user that migrated to the Symitar data center in February 2012.
CEO Sandra Williams said, “Inefficient time and resources once dedicated to balancing and administration are now in the past, saving us hours daily. An instant impact was also made on our business continuity planning, giving us peace of mind that–being in a hurricane-prone area–we have the offsite support to ensure system availability.”