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NYMBUS, makers of the SmartCore private cloud-based core processing platform, announced today that it has licensed the D3 Digital Banking platform from fellow Finovate alum NCR. The license will enable the two companies to help financial institutions rapidly deploy branded digital products and solutions for their business and consumer customers.
“Combining NCR’s D3 digital banking platform with NYMBUS’s core banking platform allows us to better serve progressive financial institutions, and corporations with well-known brands seeking to address the needs of digital-savvy customers in high-growth market segments,” NYMBUS President David Mitchell said.
NCR acquiredD3 Banking – also a Finovate alum – over the summer for an undisclosed sum. At the time, company president and CEO Michael D. Hayford said the purchase would help NCR grow its digital banking offerings into new markets, especially the enterprise market as a solution provider for big FIs. “D3 has a well-earned reputation for innovation and product excellence,” Hayford said in July. “(The company) delivers one of the most advanced digital platforms for large banks,”
“Financial institutions are introducing digital bank brands to meet the needs of Gen Z and Millennials, address new market segments, and drive deposit growth,” NCR D3 Digital Banking General Manager and former D3 Banking CEO Mark Vipond explained. “Combining our platforms allows financial institutions to rapidly go to market with digital banking offerings, quickly accelerate growth, and meet the needs of their customers.”
D3 Banking demonstrated its technology at FinovateFall 2015. Headquartered in Omaha, Nebraska, the company raised more than $33 million in equity funding prior to being purchased. More than three million users have deployed D3 Banking’s technology since the company’s inception in 1997 – including Zions Bancorporation, which announced a partnership with D3 in April.
Based in Duluth, Georgia and founded in 1884, NCR demonstrated its VR Collaboration for ATMs technology at FinovateSpring 2017. The demo used a fully immersive virtual reality experience to show what an ATM looks like from the inside. In addition to its purchase of D3 Banking, NCR has spent 2019 teaming up with fellow Finovate alum Bluefin and Powertranz to support POS card processing for quick service restaurants in the Caribbean. The company alsopartnered iwith Santander U.K. to enhance customer service at the 600-branch bank. The company began the year launching its EMV-integrated Equinox Luxe devices for NCR Connected Payments, providing a secure payment path for retailers.
Fresh of its most recent Finovate appearance last month at FinovateFall where it demonstrated its SmartLaunch financial services platform, NYMBUS was founded in 2015 and is headquartered in Miami Beach, Florida. The company has forged a host of partnerships this year, teaming up with Centier Bank in September, Pacific National Bank in May, and both Moxy Bank and Inspire Federal Credit Union in the spring. With $33.4 million in funding, NYMBUS includes Home Credit Group and Vensure Enterprises among its investors.
As seems to be the trend this year, D3 Banking Technology has found itself a buyer–and it’s a big one. The digital banking services company announced this week it has been acquired by ATM giant NCR for an undisclosed amount.
Georgia-based NCR, which owns 27% of the global ATM market, anticipates that adding D3’s digital banking expertise will help it move its own digital banking services into new markets. Most notably, NCR plans to expand from cloud-based tools for community financial institutions into on-premise solutions for large banks.
“D3 has a well-earned reputation for innovation and product excellence and delivers one of the most advanced digital platforms for large banks,” said Michael D. Hayford, president and CEO of NCR. “NCR’s Digital First Banking solutions help financial institutions connect with consumers whenever, wherever, and this acquisition helps NCR provide banks of all sizes with an exceptional digital experience.”
D3 CEO Mark Vipond called NCR “a great fit” for D3 and said that the timing of the deal is right. “This transaction enables us to capitalize on new market opportunities and bring top-tier capabilities to our mutual and future clients,” he added.
For NCR, the purchase comes at an interesting time. The $3.7 billion company put itself up for sale in May of this year. And, according to the New York post, two firms have bid on NCR but have recently left the negotiating table. A deal has yet to be finalized.
Since it was founded in 1997, D3 Banking has raised $35 million. The Nebraska-based company debuted its small business banking capabilities at FinovateFall 2015.
NCR, which is traded on the New York Stock Exchange under the ticker symbol “NCR,” has roots dating back to 1884, when the company was founded as the National Cash Register Company. NCR most recently demoed its VR collaboration for ATMs at FinovateSpring 2017.