Junction National Bank to swap Sharp BancSystems core software provider for DCI
Junction National Bank (JNB) in the US state of Texas has signed to replace its legacy core banking software with iCore360 from Data Centre Inc (DCI).
On the way out is the solution provided by Sharp BancSystems (SBS), a long-standing Texas-based tech vendor that was acquired by rival Nymbus last year.
Banking Technology understands JNB evaluated seven vendors, including SBS/Nymbus with the newer Smartcore offering.
According to a source on the ground, DCI was selected due to its “commitment to the US community banking sector”.
The source adds that “JNB included its entire staff in the vendor due diligence process and they all had a voice in the approval process”.
iCore360 is expected go live at the bank before the year end.
The deal comes hot on the heels on another community bank signing for DCI in Texas – Granger National Bank.
SBS and Nymbus: it’s love no more
Nymbus appointed Scott Sharp, former president and shareholder of SBS, as COO in early 2016. Shortly after his move, Nymbus acquired SBS.
At the time, Nymbus’ own Smartcore core banking system was positioned as a replacement for SBS’s legacy development.
SBS has been around since the late 1980s. A year or so prior to its takeover by Nymbus, SBS realised its core banking system had to be either rewritten or replaced with a newer product. “When it became apparent that significant capital was required, a partnership strategy became an attractive option,” Nymbus explained at the time of the acquisition.
“There won’t be anything that can touch us [Nymbus’ Smartcore] in side-by-side comparisons in the very near future,” stated Sharp at the time. It would appear DCI did just that.
However, Sharp has now left Nymbus, following a year and half there.
There seems to be more to the story: Nymbus has completely erased any mention of either Sharp or SBS – including the official press-releases about the appointment and the acquisition as well as any press coverage – from its website. Like it has never happened.
Not bitter much?
But the internet remembers.
Banking Technology contacted Nymbus for clarification and received the following response: “We can’t comment on HR-related matters.” Make of that what you will.