Inspire FCU, a 15,000-member financial institution founded in 1936 that serves the community of Bucks County, Pennsylvania, is making the move to NYMBUS.

“In order 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 said. He faulted the inflexibility of their legacy system, praising NYMBUS’s 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 said, 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. “And, we will deliver a much more intuitive user experience to better compete with larger financial institutions and new fintech companies that have entered the market.”

Inspire will take advantage of NYMBUS’ full suite of advanced banking solutions including SmartCore, NYMBUS’ turnkey core banking platform; SmartDigital; NYMBUS’ internet and mobile banking suite; and SmartPayments, which will manage the authorizations and transactions for Inspire’s debit card program while providing real-time fraud protection.

“Today’s financial institutions risk extinction if they don’t adapt to the disruption of digital innovation,” David Mitchell, President of NYMBUS said. “Inspire has recognized the scale of this disruption and embraced a digital-first view of banking.”

Based in Miami Beach, Florida, NYMBUS demonstrated its core banking technology at FinovateSpring 2016. Last month, NYMBUS completed a four-month conversion process for Surety Bank ($111 million in assets). In April, the core banking technology innovator unveiled its SmartLaunch solution that makes it easier for banks to build turnkey digital banking solutions in 90 days.

NYMBUS has raised $28 million in funding, and includes Home Credit Group and Vensure Enterprises among its investors.

Core banking innovator NYMBUS has always helped banks chase their digital dreams. Starting today, the Florida-based company is continuing that mission, but making it even faster with SmartLaunch.

Built on NYMBUS’ SmartCore platform, SmartLaunch allows banks to set up a turnkey digital banking solution in as few as 90 days. The new offering grants banks access to technical resources, targeted digital marketing, website services, AML/BSA compliance, debit card issuance and management, and workflow management.

“The race is on to capture today’s digital banking customers, but legacy technology, operational risk, and a lack of resources and expertise make it difficult for financial institutions to deliver the exceptional Amazon-like experience consumers have come to expect,” said NYMBUS President David Mitchell. “SmartLaunch accelerates the goal by removing those barriers, while also leveraging a largely untapped brand approach for engaging loyal new customers and revenue opportunities.”

Banks can choose to launch the digital banking capabilities under their own brand or create a standalone, digital-only brand that targets a specific customer segment. In creating digital services, SmartLaunch helps banks expand consumer reach and increase cross-selling opportunities. “Digital banks are a profitable strategy, but NYMBUS recognized that a new model was needed to eliminate operational risk while also attracting more of today’s digital-savvy consumers,” Mitchell said. He described SmartLaunch as a “sign and recline” alternative to a core conversion that doesn’t require hiring additional staff.

NYMBUS offers four products in addition to SmartLaunch, including SmartCore, a digital-first core data processing platform; SmartDigital, a core agnostic digital integration platform launched last fall; SmartPayments, an integrated real-time payments suite, and SmartServices, a service that allows banks to tap into the knowledge of the NYMBUS team. Since it was founded in 2015, the company has made three acquisitions, including R.C. Olmstead, KMR, and Sharp BancSystems. Most recently, NYMBUS completed its SOC 2 Type 1 Certification, an audit of the company’s security protocol. NYMBUS has raised $28 million.

With the release of NYMBUS SmartDigital last week, the core banking innovator has made it that much easier for financial institutions to go digital. “With the addition of SmartDigital,” NYMBUS president David Mitchell said, “financial institutions currently running obsolete technologies now have the ability to add a next-generation digital product suite.”

SmartDigital’s open architecture and flexible APIs enable FIs to readily integrate with third-party applications. With customer expectations increasingly driven by their UX with platforms like Facebook, Google, and Apple, NYMBUS’ digital-first banking solution will help FIs compete with both their rival FIs and fintechs. “The scale of digital disruption is unprecedented and digitalization is no longer an option for the banking industry,” Mitchell said. “It’s inevitable and a matter of survival.”

The launch of SmartDigital could also encourage wider adoption of NYMBUS’ flagship technology, its core banking platform, SmartCore.  Transition to SmartCore from SmartDigital is a seamless “turn(ing) on” of the core platform according to Mitchell, who stressed the importance of banks moving away from outdated systems. “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 said. The platform is live with more than 37 FIs around the world with more than 10 million daily end users.

Founded in 2015, NYMBUS demonstrated its core banking platform at FinovateSpring 2016. The Miami Beach, Florida-based company is also a veteran of our developer’s conference, having presented “NYMBUS: The Next Evolution of Core Processing” at FinDEVr New York 2016. NYBMUS has raised $28 million in total funding, including a $16 million venture round in February led by Home Credit Group.