Effectively converting and managing enterprise data enhances business agility, efficiency for CUSO members
Monett, MO /PRNewswire/ - Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, its ProfitStars® division, together with Member Driven Technologies (MDT), announced the successful migration of data from more than 45 client credit unions to Synergy Enterprise Content Management™ (ECM) using Enterprise Conversion Solutions™(ECS) to convert legacy document images and reports. Another 20 credit unions have also begun their conversion process.
Digital data has changed the way organizations optimize resources. Institutions need better ways to unify information and simplify access to that information on an enterprise level. They also need a secure, reliable way to convert their data without losing time, money, or potential business. As a CUSO committed to helping credit unions streamline operations, MDT knew it was time to deploy a new content management system − a significant undertaking.
MDT hosts and deploys the Symitar® Episys® core processing platform exclusively to nearly 100 client credit unions. The CUSO recently leveraged ECS to manage the conversion of legacy data to a modern content management system. ECS reduced manual processes and helped the credit unions ensure data integrity and security across their entire enterprise.
Larry Nichols, president and CEO of Member Driven Technologies, stated, "ProfitStars' track record for modern, flexible solutions, combined with the power of the Episys platform, has proven to be the right fit for our client credit unions. Our clients, which benefit from the strong partnership and collaboration between our companies, gain a trusted and modern technology infrastructure with a proven robust support system."
Synergy ECM integrates with existing technology platforms and business processes so that institutions can securely capture, store, retrieve, and distribute electronic documents, check images, and report data. The solution creates a secure, central document repository with immediate desktop delivery of archived documents to improve enterprise-wide productivity and support better-informed and timelier decisions.
Jim McCarthy, president and CEO of Portland, Oregon-based Trailhead Credit Union commented, "Implementing Synergy ECM as our new content management system has been incredibly smooth due to the high level of cooperation and organization between the ECS conversion experts and Member Driven Technologies."
Susan Setera, vice president of operations and IT at Farmington Hills, Michigan-based Community Choice Credit Union, added, "We are finding the Synergy ECM platform to be very user friendly. It allows us to quickly navigate and retrieve documents in a simple interface. Such an intuitive format will help ensure that our recently converted data is put to effective use. Our experience has been positive from the beginning, as ECS made the transition as seamless as possible."
Many credit unions have already realized the quantifiable benefits of transitioning to a modern content management system through ECS. Portland, Michigan-based Portland Federal Credit Union reported a dramatic reduction in auditor research; what once took hours to assemble can now be accomplished in less than 30 minutes. And, Sacramento, California-based First U.S. Community Credit Union reported that employees are raving about the increased speed of imaging at the teller line.
Tom Gosling, CEO of Bellco Federal Credit Union in Wyomissing, Pa., echoed these sentiments, "After struggling for years with an inferior imaging system that was unable to properly meet our needs, Synergy was a welcome change for our credit union. We are excited about the immediate benefits we've seen from the transition and those still to come in the future."
Russ Bernthal, president of ProfitStars, added, "Accuracy, efficiency, and quality control is of utmost importance to all financial institutions. Our valued partnership with MDT provides more credit unions with a strategic approach to effectively convert and manage enterprise-wide content. We are proud to support MDT's member credit unions with Enterprise Conversion Solutions and Synergy Enterprise Content Management to help them efficiently and securely manage their data while streamlining their operations."
About Member Driven Technologies
MDT is a Credit Union Service Organization (CUSO) with a unique, hybrid business model that gives credit unions the ability to create the best experience possible for their members. MDT hosts and deploys the industry-leading Symitar Episys core processing platform, as well as offering dozens of other best-of-breed products and services that allow credit unions to round out their service offerings and compete with other financial institutions, no matter their size. We focus on the technology so credit unions can focus on serving their members. MDT currently serves clients in 28 states, performing the processing for over 1.9 Million members with combined assets of $22.7 Billion. Larry Nichols serves as President/CEO. (www.mdtmi.com)
As a diverse, global division of Jack Henry & Associates, Inc.® (JHA), ProfitStars® combines JHA's solid technology background with the latest breakthroughs in six performance-boosting solution groups – Financial Performance, Imaging, JHA Payment Solutions, Information Security & Risk Management, Retail Delivery, and Online & Mobile. Explore the power of ProfitStars-enhanced performance at www.profitstars.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 solutions serve more than 9,000 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. 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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