Symitar Claims 35 Core Signings in Fiscal 2013
Thirty-five new credit union clients were signed by the Symitar core processing division in the fiscal year ending June 30, according to Jack Henry & Associates in Monett, Mo.
The San Diego-based core processor said three of the new Symitar Episys core users are billion-dollar credit unions, giving Symitar a total of 76 of the 196 credit unions, or 39%, of that market.
The company also noted a trend toward outsourcing the core, as 18 of the 35 new clients chose that route and another 25 existing clients chose to move from in-house to outsourced delivery, including 12 on the Episys platform and 13 on the CruiseNet platform for smaller credit unions.
Jack Henry & Associates said there now are more than 750 credit unions running on Symitar core processing software.