Cloud banking platform provider NYMBUS, which demonstrated its SmartLaunch banking-as-a-service solution at FinovateFall last year, has partnered with Pacific National Bank (PNB) to help the Florida-based company launch a digital-only bank, FACILE.
“We knew we had to act fast to meet the rising consumer demand for digital banking services,” Pacific National Bank CEO Carlos Fernandez-Guzman said. “Only NYMBUS could immediately offer us a proven, unified solution that delivers on-demand access to their wide-range of digital-first technology products combined with a 24/7/365 live call center and remote business process management support.”
The new offering from Pacific National Bank, an institution with more than $656 million in assets, is designed to provide on the kind of online and mobile banking services that young professionals increasingly demand. FACILE will offer both digital checking and savings accounts on a fee-free basis. Accountholders can make mobile transfers and payments, take advantage of personal financial management tools and resources, and access a network of fee-free ATMs. The account also comes with a debit card that features card controls for both better security and keeping spending at a manageable level.
Headquartered in Miami Beach, Florida and founded in 2015 by Scott Killoh, NYMBUS has raised more than $33 million in funding. The company began the year teaming up with PeoplesBank, a Massachusetts-based financial institution with assets of more than $2.9 billion, that deployed both NYMBUS’ SmartMarketing and SmartOnboarding solutions. “NYMBUS will integrate key aspects of our marketing, onboarding, and CRM ecosystems,” PeoplesBank president and CEO Tom Senecal said. “Together with instant end-to-end reporting that crosses business lines, we will ultimately be setup to strategically course correct future spending for even greater outcomes.”
Finovate Podcast Interviews Steve McLaughlin of FT Partners
In the latest edition of the Finovate Podcast, host Greg Palmer catches up with Steve McLaughlin, founder, CEO, and managing partner at Financial Technology Partners. Launched in 2001, FT Partners, as it is known, is the only investment banking firm dedicated solely to fintech. The company has been recognized by the M&A Advisor as “Dealmaker of the Year” and “Investment Banking Firm of the Year.”
Greg and Steve talk about the fintech industry from the perspective of an investment banker. They discuss the issue of capital availability, company valuation, and the idea of a harsher grading rubric for fintech.
Here is the latest news from our Finovate alums:
- ThetaRay launches FAST START to help banks fight cybercrime during Covid-19.
- Capita Consulting leverages low-code technology from Outsystems.
- Minna Technologies launches pilot with Tatra banka in Slovakia.
- SaltEdge’s new solution helps banks get exempted by the regulator from providing a fallback channel.
- Token.io’s payments API to power open banking payment services for Upco’s Mobile Messenger.
- DriveWealth to integrate with Access Softek’s new investing app, EasyVest.
- ACI Worldwide to provide e-commerce payment processing for retail payments platform, Wundr.
- Payment processor Trustly teams up with Ecommpay to offer three months of free processing.
- Finastra launches its Fusion Credit Connect solution on Salesforce AppExchange, FusionFabric.Cloud.
- Boku powers direct carrier billing and e-wallet payment services for Korean game developer Pearl Abyss Corporation.
- MX launches Audiences, a new segment builder tool to help banks improve marketing efforts.
- ID R&D releases IDFraud Contact Center to address subscription fraud in the contact center.
- DriveWealth to bring U.S. stock investing to India-based INDmoney clients.
- Coinbase plans to be a “remote-first” company after COVID-19.
- Fiserv to power P2P payments for Redstone FCU.
- Ethoca and Mastercard partner to help retailers deal with chargebacks and fraud during the COVID-19 crisis.
- Kabbage receives SBA approval to fund PPP applications totaling more than $3.5 billion.
- FIS launches iQ Now, a mobile app for SMEs that enables owners to monitor real-time business performance.
- WorldRemit teams up with Onfido to enhance the identity verification component of its onboarding processes.
- iProov to bring its biometric authentication technology to the U.K.’s National Health Service (NHS).
- Xero partners with online small business bank Relay to offer real-time visibility of cash flow.
Finovate Alum Features and Profiles
Visa Backs GoodData in New Strategic Partnership and Investment – The collaboration includes an investment in the global analytics company and is designed to enable Visa to offer its customers and partners better access to aggregated data and analytics.
Plaid Exchange Offers Open Banking in a Box – The new tool, Plaid Exchange, offers banks a way to provide open banking connectivity to their clients while keeping their clients’ data safe and giving them control of their data.
Counter-intuitive Brilliance: Zafin’s Strategy for Success in Trying Times – How is Zafin helping banks and other financial institutions cope with the current environment?
Alums Assemble! A Look at Finovate Merger and Acquisition Activity in H1 2020 – Here is our quick rundown of some of the biggest M&A action from our Finovate alums so far in 2020.