Symitar, a division of Jack Henry & Associates (NASDAQ: JKHY), is the recognized leader in core data processing and ancillary technology solutions for U.S. credit unions. Founded as a private company in 1984, Symitar built its reputation by combining robust, flexible technology products with customer service levels that are unmatched in the industry. Its Episys® core platform quickly became the data processing system of choice for progressive credit unions of all sizes, including many of the largest in the country.
Symitar was acquired by Jack Henry & Associates (JHA) in 2000. This provided valuable infrastructure that enabled Symitar’s continued growth and dominance of the marketplace. For example, the company was able to leverage the data centers of JHA OutLink Processing Services™ to offer Episys in an outsourced environment for the first time.
In 2002, JHA acquired CU Solutions, a maker of data processing systems for small to mid-sized credit unions, and rolled its Cruise® (since renamed CruiseNet®) core system under the Symitar brand. As with Episys, Symitar was able to begin offering Cruise in both in-house and outsourced delivery models.
Today Symitar offers two unique core processing platforms, each available in-house or outsourced:
- Episys - a highly customizable, IBM System p™-based solution deployed in approximately 650 U.S. credit unions, including nearly 40 percent of those over $1B in assets.
- CruiseNet - a Windows-based solution built with the latest .NET technology and deployed in approximately 180 credit unions ranging from $1M to $150M in assets.
Symitar also offers a wide range of supplementary technology products and services, some directly from Symitar, some from ProfitStars® (another JHA division), and some through carefully selected business partners.