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SOURCE Jack Henry & Associates, Inc.
- Support for new industry standard extends core processor's commitment to open architecture -
MONETT, Mo., Nov. 1, 2013 /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 has confirmed the success of the first Credit Union Financial Exchange (CUFX) standards integration in a Symitar client, Illinois-based Baxter Credit Union (BCU).
CUFX is a set of core-agnostic standards proposed and developed by the CUNA Technology Council for integrating various types of third-party applications to core processing systems. Symitar was the first core processor to embrace CUFX, providing early input to the CUNA Technology Council on CUFX 1.0, which ultimately led to the CUFX-based integration between Episys® and MoneyDesktop's personal financial management (PFM) software at the $1.8 billion BCU.
In line with its focus on standards, Symitar also contributed to the development of the CUFX 2.0 specification. The CUFX 2.0 specification incorporates enhancements that enable CUFX connectivity for online membership application software, as well as more detailed guidance in the area of security. It is expected that CUFX 3.0 will add mobile connectivity.
Jeff Johnson, senior vice president and chief information officer at BCU said, "We're running live in our CUFX environment with no issues. Symitar has really been out in front of the charge. They've participated in every working group we've held." Johnson is also on the CUNA Technology Council executive board and is a driving force behind the CUFX initiative.
Symitar president Ted Bilke said, "We have always been committed to keeping Episys as open as possible. Our support of CUFX is an extension of our longstanding commitment to make it as easy as possible for our clients to integrate Episys with the third-party products that best support their business strategies and technology requirements."
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 currently serves more than 750 credit unions 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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