Nymbus to power core banking at US community lender PeoplesBank
Cloud core banking firm Nymbus has been selected by community bank PeoplesBank to modernise its core banking platform.
The Massachusetts bank will convert its core banking system to Nymbus Core, readying it for future digital products and services.
Nymbus CEO and chair Jeffery Kendall says PeoplesBank’s digital transformation will play a key role in its short and long-term growth.
With assets exceeding $3.6 billion, PeoplesBank will convert its core banking system to Nymbus’ API-first solution, which it says will allow it to bring new digital products and services to market faster and simplifying back-end processes.
In October last year, PeoplesBank went live with Nymbus SmartLaunch as it unveiled its newest digital bank, Zynlo.
Targeted at millennials, ZYNLO has grown nearly two thousand percent in account openings since its launch, Nymbus says.
PeoplesBank president and CEO, Thomas Senecal, says: “Our collaboration on ZYNLO allowed us to quickly compete outside traditional boundaries and capture new market opportunities.
“Now with the rebuild of our larger bank infrastructure, Nymbus’ modern core engine will help us provide innovative and cutting-edge digital banking services faster and at a lower cost for customers well into the future.”
In July, Nymbus signed a partnership deal with open banking provider Plaid to improve client onboarding for Nymbus bank and credit union customers.