Symitar Cites Signings in Second Half of 2012
Symitar’s core processing platforms were sold to 18 more credit unions in the last six months of 2012, the first half of its 2013 fiscal year, bringing to 788 the total number of credit union clients, according to Jack Henry & Associates.
The Jack Henry division said it also is seeing a trend toward outsourcing, with 14 credit unions moving from in-house to service bureau settings for their account processing relationship with the Monett, Mo., company.
There now are 607 credit unions using the flagship Episys platform, the company said, including 233 that outsource through Jack Henry’s Episys EASE system or relationships with MDT, Synergent and other CUSOs, the company said Wednesday.
There are another 181 using the Cruise system for smaller credit unions, including 38 that outsource through Jack Henry’s OutLink Data Centers, the company said.
The company said it now claims more than 35% of the market for credit unions over $1 billion in assets.