Inspire FCU to deploy Nymbus core banking solutions
Inspire FCU (formerly Bucks First FCU), a 15,000-member financial institution founded in 1936 that serves the community of Bucks County, Pennsylvania, is making the move to Nymbus, reports David Penn at Finovate.
“To deliver the enhanced experience and competitive, digital financial products our members ask for, it was clear our legacy core was setting us up to fail,” president and CEO of Inspire FCU, Jim Merrill, says.
He faulted the inflexibility of their legacy system, praising Nymbus’ advanced core, digital, and payment solutions as an ideal replacement. And not just of the credit union’s legacy system, either.
“Inspire will eliminate 15 technology vendors after we convert to Nymbus,” Merrill says, referring to the large number of different vendors the credit union had been relying on, which complicated workflows and detracted from the Inspire’s member experience.
Inspire will use Nymbus’ full suite of banking solutions including SmartCore, Nymbus’ turnkey core banking platform; SmartDigital; its internet and mobile banking suite; and SmartPayments, which will manage the authorisations and transactions for Inspire’s debit card programme while providing real-time fraud protection.
Based in Miami Beach, Florida, Nymbus completed a four-month conversion process for Surety Bank ($111 million in assets) last month.
In April, it unveiled its SmartLaunch solution to let banks build turnkey digital banking solutions in 90 days.
The firm has raised $28 million in funding, and includes Home Credit Group and Vensure Enterprises among its investors.