Symitar launches CruiseNet

16th November 2013 | By Mouseworld Now Correspondent |

New Delhi, India, November 16, 2013: Jack Henry & Associates is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar division has launched CruiseNet, the next generation of its Cruise core platform.

CruiseNet is built on a .NET architecture, enabling it to be more intuitive and allowing for maximum efficiency. New features provided by CruiseNet include integrated loan collections, relationship pricing, risk-based lending and loan decisioning, accounts payable, fixed asset accounting, and customized workflow options for new members, new accounts, and new loans. As part of the improved user workflow, tasks such as membership and loan applications can be completed in minutes, without toggling between screens.

The core platform is available for in-house installation or implementation in a service bureau environment, making it possible for small and medium-sized credit unions to meet their business needs regardless of available IT resources.

Angelic Pritchett, CEO and a former auditor, said, “Symitar has significantly advanced the CruiseNet system and those advances are positively impacting our business and growth goals. The consolidation of different functions and the much-improved navigability have already had a positive impact on employees’ productivity. The efficiencies gained for our $30 million credit union enable our member service representatives to be even more attuned to member needs and the services we can offer.”

Credit unions are also benefiting from greater accessibility to Symitar’s complementary solutions as well as those provided by third-parties. CruiseConnect enables credit unions to integrate technologies with CruiseNet and seamlessly exchange data. This approach to enterprise integration allows credit unions to leverage existing and ongoing technology investments. Of particular note, jhaPassPort ATM and debit card processing will seamlessly interface with CruiseNet to provide instant verification of funds. These services combine automated teller machines and electronic point-of-sale-transactions into a single, scalable electronic system.

Great Meadow Federal Credit Union CEO Ryan Roberts, also a CruiseNet advisory board member, said, “We really appreciate that Symitar continues to invest strongly in the research and development for CruiseNet. The CruiseNet platform further expands our features and functionality by enabling access to more third-party vendors; as a result, we’ve added a home banking and bill pay system that delights our members and has created a more efficient back office.”

Great Meadow runs CruiseNet in an outsourced environment. Roberts estimates that the CruiseNet environment saves about three hours a week on payment processing alone. It enables the $17.5 million credit union to have consistent updates and support without having a full-time IT department.

According to Ted Bilke, president of Symitar, “Our strong financial position allows Symitar to continue investing in developing and enhancing the CruiseNet system. Our credit unions have been instrumental in helping with new functionality and the transitions to the next-generation core system. We are excited about the introduction of this progressive platform and the tangible benefits it will generate for every Cruise client.”


© Mouseworld Now News Service

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