Following the financing, NYMBUS is set to accelerate product deployment and infrastructure teams to support momentum in the company’s SmartCore platform.
As Scott Killoh, the Executive Chairman of US-based NYMBUS puts it: NYMBUS is here to help the 12,500 financial institutions encumbered by some of the oldest enterprise technology still in use, many developed as long as 30 to 40 years ago. These banks and credit unions have a strained business model, as they face increasing operational costs, severe regulatory pressures, while also being forced to utilize technology that is putting them at risk for survival. They desperately need an alternative to survive, grow and support their local communities. This additional funding will help us rapidly convert the already high demand for our SmartCore platform.
This development comes in the light of financial institutions of all sizes attempting to transform their technology for the new digital economy. Core banking software is the most important infrastructure in financial services and the core platform’s importance comes from its day-to-day operations, but also from serving as the institution’s backbone for new capabilities and growth.
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