August 29, 2016
Symitar’s Episys Core Processing Platform received recognition in a recent Aite report, Leading U.S. Core Banking Vendors: Entering the Era of Plug-and-Play Banking. Synergent provides credit unions with Technology Services, offering the Episys Core Processing Platform by Symitar.
Aite Group’s July 2016 report focused specifically on the six core banking vendors that maintain a combined 75 percent of the U.S. market. It explored two key core banking trends, tighter integrations, a preference for hosted delivery models, and suggested how well these technology providers have progressed toward satisfying them. Aite is a global research and advisory firm with expertise in financial services and payment solutions.
Episys received the Alliance and Most Open Architecture Award, in recognition of its openness to other third-party solutions. The quality and extensiveness of integration, ease of implementation, interoperability, and scalability are just a few of the qualities factoring into the decision. Aite Group’s report stated that “overwhelmingly” Symitar is called out “as an outstanding partner” for Episys’ ability to maximize customization, third-party connectivity, and interoperability standards through solutions such as the SymXchange™ interface and PowerOn® tools. These components provide vast core flexibility in a market that demands a sophisticated exchange of data in order to deliver the best customer experience.
The parent company of Symitar was also recognized. Aite Group named Jack Henry & Associates as a “Leader of the Pack Award” recipient, acknowledging the company’s continuing positive momentum as it wins new core clients and moves up-market to larger institutions, especially on the credit union side. In validation of this award, Jack Henry & Associates celebrated 40 new core takeaways in its most recent fiscal year, ended June 30, 2016, and eclipsed 48 percent of all core clients now using an outsourced delivery
David Foss, President and CEO of Jack Henry & Associates, added, “Financial institutions are under tremendous pressure to quickly address market demands and respond to customer expectations. Their core platforms must be flexible and receptive to change, and able to communicate well with other systems. We are proud of the core innovations taking place within Jack Henry, and appreciate the recognition by Aite Group for what we’re doing. The trends observed in this report align with the direction our clients have taken in recent years, and with how we’re thinking about the future of our technology.”