Nymbus unveils digital banking platform, SmartDigital
Banking software start-up Nymbus has launched its digital banking platform – SmartDigital – offering open architecture and APIs to enable financial institutions to integrate with third-party applications, reports David Penn at Finovate (Banking Technology‘s sister company).
Nymbus president David Mitchell says: “FIs currently running obsolete technologies now have the ability to add a next-generation digital product suite.”
SmartDigital is based on the myGemini omnichannel platform developed by Prague-based banking tech vendor BSC. It will be sold under an exclusive licence from BSC as a standalone product or as part of Nymbus’ flagship core banking system, SmartCore.
The vendor hopes the launch of SmartDigital will also encourage wider adoption of SmartCore.
With customer expectations increasingly driven by their UX with platforms like Facebook, Google and Apple, Nymbus says its digital-first banking solution will help FIs compete with both their rival FIs and fintechs.
“The scale of digital disruption is unprecedented and digitalisation is no longer an option for the banking industry,” Mitchell says. “It’s inevitable and a matter of survival.”
Transition to SmartCore from SmartDigital is a seamless “turn(ing) on” of the core platform, according to Mitchell.
“We want all financial institutions that have been held hostage on their legacy technology to be able to upgrade and enhance their digital offerings now,” he says.
Nymbus states that the platform is live with more than 37 FIs around the world with more than ten million daily end users.
The firm was founded in 2015 and has raised $28 million in total funding, including a $16 million venture round in February led by Home Credit Group.