Jack Henry nabs $1.3B credit union client

Monett technology firm Jack Henry & Associates Inc. (Nasdaq: JKHY) has landed a $1.3 billion out-of-state client.

Phoenix-based Arizona Federal Credit Union signed on to install the Episys core platform service under Jack Henry's Symitar division, according to a news release.

The installation of Episys, a client-centric system with more than 50 complementary products, would allow Arizona Federal to provide systemwide automation in serving its more than 140,000 members.

"Arizona Federal has a member-focused strategy that requires advanced technology and multiple integration points," Symitar President Ted Bilke said in the release. "Episys will not only give the credit union the customization capabilities that it needs, but it will also provide a community of peers with scripting ideas and proposals to propel future growth."

Jack Henry claims more than 39 percent of U.S. credit unions with assets exceeding $1 billion are automated by the Episys platform.

The publicly traded company has scheduled an Aug. 13 release of its fourth-quarter and fiscal year-end financial results. As of 10:56 a.m., JKHY shares were trading at $49.52, compared to a 52-week range of $48.67 to $49.71.