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Big News in Banking: Intelledox Connector Extends Jack Henry Symitar Platform

April 19, 2018

Credit unions and regional banks have long differentiated themselves from larger financial institutions by offering a greater level of attention and service to customers (or members, as often called in the credit union world.) Yet as customers have demanded ways to engage 24/7 using digital and mobile tools, it’s been challenging for smaller banks to keep up with the pace of innovation given limited IT resources.

That’s why we’re so excited to announce our new membership in the Jack Henry Symitar® Vendor Integration Program. (Read the press release.)

About Symitar Episys and Infiniti Quick Connectors

According to the company, the Episys core platform from Symitar is the most popular data processing system in the United States in all asset ranges over $50 million. This includes nearly 40% of all U.S. credit unions with assets of $1 billion or greater.

Participation in the VIP enables Intelledox to access Jack Henry technical resources to help us connect our Infiniti platform with theirs. Intelledox Infiniti now integrates with Symitar via SymXchange™, a services-based programming interface.

Why does this matter? Like with our other Quick Connectors to core systems like CRM and ERP, the benefits are many.

  1. By leveraging existing data in a core system like Episys, banks can replace blank fillable forms (either paper or Web) with adaptive digital interviews prepopulated with the information already known about customers – and enable them to complete these interactions online or via a mobile device. Credit union members can simply confirm the information pulled in real time from Episys – instead of typing in new data.
  2. In addition, new information gathered in the digital interview can also be automatically updated in the Episys system. This improves overall data integrity and minimizes the risks of inaccuracy that can come when forms are processed by employees manually or even using OCR.
  3. Intelledox Infiniti can also dynamically produce personalized documents or other customer communications on demand, from SMS confirmations all the way through complex loan agreements. These can be triggered by a customer, call center or financial advisor’s request. When connecting Intelledox with e-signature solutions like DocuSign, banks can deliver a seamless digital interaction from end to end.

Moreover, because Intelledox Infiniti is a “low code” platform, business users can create a new process quickly, which makes it particularly ideal for credit unions and other small financial institutions that lack major IT infrastructure or technical support. Setup can be done in weeks, not months or years. Once IT configures the initial data connection, the business can move more quickly to launch new products and services.

How to measure ROI

The bottom line: Banks are able to open new accounts and write loans faster, while enabling customers to self-serve. Most companies see measurable results in terms of time and money saved, as well as improved customer loyalty.

Over the past year a number of new banking institutions have joined our client list, including one of the top 5 credit unions in the U.S., with particular interest in use cases such as:

  • New loan applications, which involve collaboration before the agreement is finalized and ready to be signed, especially in commercial lending
  • Skip a pay offers, where the member defers payment on a loan while the bank continues to capture interest
  • Member account self-service, where the bank wants to offer members the chance to update or request information online

Embarking on a program of digital transformation and re-imagining the way customers engage enables smaller regional banks and credit unions to uphold their commitment to service in the best way possible. We’re committed to helping them achieve their “go digital” objectives.

By the way, Intelledox Infiniti will integrate with other core banking systems, too, not just Symitar, including Fiserv, as well as CRM systems like Salesforce. If you’d like to extend your investment in your existing IT stack while improving your digital customer experience, let’s talk.

Learn More About Our Integration and Symitar VIP

Read the press release.

Sign up to see a demo during our webinar on May 10 and see this integration live.

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