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NYMBUS Helps Drive PNB’s New Digital Only Bank

Pacific National Bank (PNB), with nearly $500 million in assets, has selected technology solutions provider NYMBUS to support the infrastructure and operations of its new digital-only bank. PNB will leverage NYMBUS’ SmartLaunch solution to bring a seamless online and mobile banking experience to Florida’s Millennial professionals.

PNB CEO Carlos Fernandez-Guzman underscored that the process of deploying the new bank will be as smooth and effortless as the user experience PNB hopes to provide. “In less than 90 days, and without disruption or cost to our existing bank infrastructure, SmartLaunch will provide all the necessary technology, resources, and digital marketing support to ensure our digital bank gets maximum exposure to reach and acquire a new audience of tech-savvy young professionals,” Fernandez-Guzman explained. Pacific National Bank was established in 1985 and is the 19th largest bank headquartered in Miami-Dade County, Florida based on assets.

SmartLaunch enables FIs to offer a customized digital-only banking experience without the need to add human resources or undergo a major conversion process. The Banking-as-a-Service (BaaS) solution is built on NYMBUS’ digital-first SmartCore platform to eliminate the need for the bank to pursue a technology overhaul. Everything from the customer-facing call center and back office operations to digital marketing is provided by the platform.

NYMBUS President David Mitchell said the technology helps “level the playing field,” making it easier for smaller banks and credit unions to compete with the offerings of their larger rivals. Solutions like SmartLaunch, Mitchell said, will enable PNB to “focus on (its) core business while NYMBUS handles the entire back-office, operations and world-class digital marketing support to get its new digital-only bank up and running quickly.”

NYMBUS demonstrated its technology at FinovateSpring 2016. Founded in 2015 and headquartered in Miami Beach, Florida, the company announced last month that it will partner with MOXY, the first new financial institution in the Washington, D.C., Maryland, and Virginia area in more than 10 years.

Inspire Federal Credit Union went live with NYMBUS’ SmartCore platform in March and, last fall, TransPecos Banks picked the company to launch its new digital bank brand, BankMD.com. With more than $33 million in funding, the company includes Home Credit Group and Vensure Enterprises among its investors.