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SOURCE Jack Henry & Associates, Inc.
- Open marketplace for custom programs and applications enhances credit unions' system functionality and operating efficiencies -
MONETT, Mo., June 25, 2014 /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 introduced the next-generation of its popular PowerOn Marketplace®, which serves credit unions automated by the Episys® core system as a collaborative environment for securely exchanging programs and applications that improve system functionality and performance and ultimately operating efficiencies.
PowerOn® is a sophisticated development tool that enables Episys clients to customize programs and applications within a framework that strictly maintains the integrity of the core system code. With PowerOn, credit unions can self-sufficiently respond to evolving business, user, and data requirements with highly customized solutions that increase operating efficiencies, while reducing operating costs, errors and risks inherent in manual tasks, and the expense required for custom code.
The PowerOn Marketplace was introduced in August 2012 as a centralized, shared resource that is fully maintained by Symitar and enables credit unions to upload their custom programming solutions; access, download, deploy, and rate other credit unions' solutions; and share and adopt ideas. Since the PowerOn Marketplace was introduced, more than 1,600 credit union professionals have joined as active users and there have been more than 9,500 downloads of the custom programming solutions.
The next-generation PowerOn Marketplace enhances the original offering with an array of contemporary features including the option for credit unions to sell their solutions to other marketplace users, the ability to request specific custom solutions, the ability to upload additional file types, and a utility to opt-in for monthly profiles of new and highlighted solutions. The enhanced PowerOn Marketplace also provides the ability for Symitar's business partners and vendors offering third-party solutions to register and use the marketplace to distribute product-specific custom programming solutions.
Samantha Amburgey is the chief information officer for Michigan State University Federal Credit Union, a $2.6 billion institution that has been an Episys core client since 1988. She explained, "PowerOn Marketplace gives the Episys community a great venue for sharing as well as developing ideas. Our credit union has a dedicated team that scans the PowerOn Marketplace monthly to evaluate new programs; we can grab one or multiple PowerOns and quickly make them our own. Having access to base code for further customization saves us time in development, but also keeps us innovating to create and share programs ourselves."
Ted Bilke, president of Symitar, said, "We have always fostered the sense of community and collaboration that inherently exists in the credit union industry at-large and especially among our credit union clients. The goal for our PowerOn Marketplace is to provide a centralized, trusted, secure, and reliable source for proven solutions that enable our clients to efficiently and easily adapt the Episys platform to support their specific business opportunities and unique automation requirements. We are excited about the increasing number of credit unions using our marketplace, the growing number of innovative programs and applications available, the revenue opportunities PowerOn Marketplace can generate, and the opportunity for providers of third-party solutions to make meaningful contributions to our open storefront."
In addition to maintaining the PowerOn Marketplace, Symitar continues to provide product development, customization, and integration services.
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), 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 & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. 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.
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