JACKSONVILLE, Fla. – (Oct. 21, 2009) – Looking to chart its technology landscape for the next decade, Security Service Federal Credit Union (SSFCU) recently made a series of key enhancements to its core processing platform – Systematics from FIS™. By simultaneously upgrading 10 Systematics application suites that interface to more than 65 other major applications within its technology infrastructure SSFCU will, in the process, enable its future growth for years to come.
The enhancements and operational efficiencies gained as a result of the enhancements provide the cornerstone to the credit union’s 10-year IT strategy plan, including improvements to the integration of channel services (Web, IVR, Mobile, etc.) to the core processing engine, reduced application maintenance costs and heightened security through Systematics’ GN architecture. SSFCU will also be able to offer its members quicker response times, bring new products to market faster and more easily comply with financial industry compliance regulations.
Systematics is a suite of retail banking applications from FIS, offering componentized member support, deposits, lending, and financial and management systems. Used by some of the world’s largest and most successful financial services organizations, the Systematics solution is optimized for regional, national and global financial institutions for any business structure or operational scale.
SSFCU utilized project management and consulting services from FIS to assist in the definition and execution of all phases of the project, arguably the largest single technology project in SSFCU’s history, which included approximately 15,000 modules interfacing with more than 65 applications. Working with FIS, the credit union invested significant time and resources prior to and during the project life cycle. Throughout the project some 146 Security Service staff members from virtually every SSFCU department participated in the process to ensure that the technical upgrades and changes were congruent with all business lines to eliminate any possible service disruptions.
SSFCU and FIS chose the Fourth of July holiday weekend to go live with the new technology. The successful big-bang approach resulted in a "zero down time" final implementation weekend that allowed SSFCU's members access to their accounts over the busy holiday weekend, including online, ATM and branch availability to systems.
“At Security Service Federal Credit Union, we’ve been relying on the proven capabilities of the Systematics solution to help us achieve tremendous growth over the years without fear of ‘outgrowing’ our technology,” said Jay Winslow, senior vice president and chief information officer of SSFCU. “When it came time to assess our infrastructure at SSFCU, staying with the Systematics suite made the most sense. These latest enhancements will not only help reduce our application maintenance costs by eliminating the need for much of the customized code that has accumulated over the years, but will also increase our competitiveness in the marketplace by improving our delivery of premium products and services and enabling our future growth for the next decade and beyond.”
“We’re happy SSFCU, one of the largest credit unions in the country, sees the tremendous value in the stability and capabilities of the Systematics suite,” said Anthony Jabbour, executive vice president, FIS Financial Solutions Group. “Systematics remains one of the premier core processing solutions in the industry, driving leading institutions around the world, and FIS remains committed to providing unparalleled service to its Systematics clients to enable their continued success.”
About Security Service Federal Credit Union
Security Service Federal Credit Union is the largest credit union in Texas and the ninth-largest in the nation. Security Service has more than $5 billion in assets and more than 700,000 members in Texas, Colorado and around the world. There are 36 South Texas locations in the greater San Antonio area, the Rio Grande Valley and the Coastal Bend area. Additionally, the credit union operates 14 Colorado service centers in Denver, Colorado Springs, Pueblo, Aurora and Fountain. For more information about Security Service FCU’s products and services, visit www.ssfcu.org or call 1-888-415-7878.
About FIS
FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in more than 90 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network. FIS maintains processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500® Index and consistently holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs approximately 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol. For more information about FIS see www.fidelityinfoservices.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.
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