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 announced the expansion of its partnership withMember Driven Technologies (MDT), a credit union service organization (CUSO).
Based in Farmington Hills, Michigan, MDT provides credit unions with a private cloud alternative for core processing and IT needs. Its client base represents more than $22 billion in assets and approximately two million members. MDT and Symitar have enjoyed a successful 15-year partnership, and the CUSO currently hosts the Episys® system for 93 credit unions. With the expansion of this relationship, MDT will now provide the Episys platform to credit unions in the Northeast region.
Larry Nichols, chief executive officer of MDT, said, “At MDT, we’re committed to providing our credit union clients with the tools necessary to best serve their members and succeed, which is why we host the best-in-class Symitar Episys platform. Our partnership with Symitar has provided credit unions with powerful, flexible, and highly integrated core processing for more than a decade, and now we will be able to extend these benefits to credit unions in a new region.”
MDT’s hybrid approach to outsourcing allows credit unions to boost efficiencies and security while reducing costs. The CUSO maintains a private server for each credit union client, empowering them with high levels of control over their critical information and the confidence that their data is well protected. In addition to core processing, MDT offers a full range of products and services that credit unions can leverage to operate the entire institution.
Ted Bilke, president of Symitar, added, “MDT has a strong history of supporting the Episys platform, and we’re excited to expand the area for member service. Together, we will continue to support the advanced core processing needed for credit unions to deliver the best member experience in today’s highly competitive and quickly evolving financial services landscape.”
MDT also offers a variety of complementary Jack Henry & Associates products and services to its members, including: Synergy Enterprise Content Management™, iPay Solutions™, JHA Card Processing Solutions™, Advanced Reporting for Credit Unions™, ProfitStars® CECL Analysis and Reportingsm, and ProfitStars CECL DataStore and Validationsm.