NYMBUS: Introducing the Next Generation of Cloud Based Core Banking

David Mitchell | President | NYMBUS - Insights Success

Cloud computing technology is one of the fastest growing technologies of the era, and cloud based core banking applications are one of the largest markets for cloud services. Spending more than a quarter of the total cloud-based revenue, financial institutions are expected to create eminent foot prints on the cloud computing arena. But before moving to the cloud, financial institutions must consider issues around data, such as: confidentiality, regulatory compliance, security, interoperability of standards, and quality of services. So, as a solution to this NYMBUS is here to provide a secure, cloud-based, holistic core banking platform that includes all of the mission-critical functions that financial institutions need to serve the consumer and build their businesses. NYMBUS’ revolutionary platform enables financial institutions to effectively respond to today’s digital revolution and demand for omni-channel banking, creating innovative products and attracting new consumers to drive growth.

Pioneering the Core Banking Industry

NYMBUS provides an exclusive core banking platform with unique features like: real time processing, 360 degree view of every consumer’s needs and an extensive reporting system, giving financial institutions access to all the information they need. Thus increasing productivity and, in turn, building brand loyalty. Their platform is the only core designed platform which is made keeping in mind the needs of both financial institutions and consumers in mind from the very beginning. They gather consumer data and intuitive CRM features into innovative dashboards to help the employees of financial institutions to engage and serve the consumer in a more efficient manner. NYMBUS next-generation solution represents a marked departure from the cumbersome cores that financial institutions have become accustomed to using for decades.

David Mitchell, a Visionary Leader

David Mitchell, President of NYMBUS, is the person responsible for supporting the strategic direction and planning of the company’s overall go-to market strategy, revenue generation initiatives, strategic acquisitions, and product innovation. David provides guidance for all long and short-range strategic plans. He also works closely with global cross-functional teams to help drive execution across all revenue generating departments, operations, technology, and product marketing.Previously, David worked for Open Solutions, a software, payments, and e-commerce solutions provider that sold to Fiserv in 2013 for $1.3 billion.

Working at the Grass Root Level

At NYMBUS, they believe that banks and credit unions are the pillars of local communities, which adds to the growth of the global economy. But there are numerous companies which hold onto legacy technology, putting their businesses at risk for survival, thus, NYMBUS was formed to fill the void created by the traditional legacy vendors. Until now, the only option for financial institutions had been to move from one legacy platform to another. But now, NYMBUS is disrupting the traditional core market by accelerating the pace of innovation and enabling modern experiences to the end consumer.

Delivering Out-of-the-Box Banking Solutions and Services

NYMBUS is years ahead of the legacy vendors that have traditionally owned the market. Their SmartCore platform is transforming the holistic consumer experience by providing the most differentiated user experience to modernize back-end processes and satisfy consumer expectations.The scope of this platform spans across multi-delivery channels, between front- and back office, including reconciliation and settlement. It is scalable as well as cost-effective, and includes internet and mobile banking, deposit and loan products, payment solutions, ATM and PoS switching, regulatory and MIS reporting.

Gathering All Solutions Under One Roof

NYMBUS offers a singular interface, combining all banking activities into one dashboard. By simply logging in, users are given access to their complete mission-critical internal processes, which are required to enhance employee productivity, consumer satisfaction and overall profitability and brand loyalty. Their platform’s ease of integration is unprecedented. The SmartCore platform does not require full elimination of previous legacy systems. Integration happens alongside current infrastructures to support rapid transformation of core banking operations, thus providing a one-of-a-kind value proposition for financial institutions. NYMBUS provides the highest levels of security as well as compliance with the latest industry standards. They assign each client with its own private hosting environment with the most secure data centers. Their solution also supports expansion plans and strategies for introducing new products and services, while enabling effective compliance with regulations. Financial institutions are also enabled to divert their teams and funds from operations towards innovating and enhancing service capabilities, thus increasing incremental revenue opportunities.

Creating Benchmarks Since the Beginning

Since NYMBUS’ inception, interest in the platform has been immediate and growth rapid. Scaling to meet this overwhelming demand became a top priority for them, and the value of SmartCore has never gone unnoticed by investors. In August 2016, they announced a $12 million financing round, and most recently, announced an additional $16 million funding round. All to support new client conversions and also drive their continued growth and innovation.

Future Perspectives

In a constantly evolving world, financial institutions need to be able to innovate to keep up with their customer demands, especially with the millennials. NYMBUS represents an alternative for the 12,500 financial institutions burdened by some of the oldest enterprise technology still in use, many developed as long as 30 to 40 years ago. They have made a fast and impressive entry into a market traditionally held hostage by the legacy vendors. This is an exciting time for NYMBUS to help drive the financial institutions into the 21st century. Looking forward to the future opportunities, their prime focus is to continue to scale-up their user base, as well as their service and support teams to drive growth and innovation, to quench the thirst of market needs.

Source :- The 10 Fastest Growing Banking Solution Provider Companies