PeoplesBank & Nymbus expand partnership with latest core banking platform upgrade
JACKSONVILLE, FL (October 21, 2021) — NYMBUS®, a leading provider of banking technology solutions, today announced that PeoplesBank has selected Nymbus to modernize its core banking platform in order to best serve the institution’s customers and support continued growth.
Headquartered in Holyoke, Massachusetts with assets exceeding $3.6 billion, PeoplesBank will convert its core banking system over to Nymbus’ single, state-of-the-art, API-first solution that brings new digital products and services to market faster. In choosing Nymbus Core, PeoplesBank gains a proven foundation for meaningful, long-term innovation while simplifying back-end processes to improve efficiencies and drive revenue growth.
In 2020, PeoplesBank partnered with Nymbus to stand up and grow a separate digital-only bank for expanding the institution’s digital reach and engage new loyal customers. Designed to simplify the banking experience with an array of products and tools that empower Millennials to reach financial freedom, ZYNLO has grown nearly two thousand percent in account openings since its launch.
“Based on our experience, Nymbus is the undisputed fintech partner for top to bottom business transformation,” said Thomas Senecal, President and CEO of PeoplesBank. “Our collaboration on ZYNLO allowed us to quickly compete outside traditional boundaries and capture new market opportunities. Now with the rebuild of our larger bank infrastructure, Nymbus’ modern core engine will help us provide innovative and cutting-edge digital banking services faster and at a lower cost for customers well into the future.”
Furthered Jeffery Kendall, Chairman and CEO of Nymbus: “Digital is not a destination but the journey from where banks have been to where they want to go, and Nymbus is committed to taking that journey with each of our partner institutions. We’re excited to get started on this next phase of PeoplesBank’s digital transformation, and honored to serve a key role in their short and long-term growth.”
Recently named to CB Insights’ Fintech 250 list of the most promising companies for “Core Banking & Infrastructure,” Nymbus Core’s groundbreaking technology is a disruptor in the industry for its transformative effect on financial institutions.
For more information on Nymbus Core and the company’s complete portfolio of products and services, visit: nymbus.com/products
Nymbus is a leading provider of financial technology solutions, and its platform is used by credit unions and banks of all sizes to innovate and grow. It has disrupted the financial services market as an alternative to legacy technology providers with a cloud-based and highly extensible technology stack. With Nymbus, any size financial institution can quickly launch a full-service digital brand or migrate to our award-winning core. Nymbus buys back decades of lost time to engage and support the entire digital customer journey. For more information about Nymbus, visit www.nymbus.com
PeoplesBank is a leader in innovation, corporate responsibility, environmental sustainability, and employee engagement. Our three LEED®-certified offices are environmentally friendly, and we have financed more than $188 million in wind, hydroelectric, and solar energy projects.
As the largest community bank in the market, we have a unique ability to help the communities we serve through volunteer efforts and millions of dollars in donations to charitable and civic causes. Our associates devote an average of 10,000 hours to volunteer work each year, and 48 of the bank’s officers serve on the boards of directors and committees of 115 nonprofit organizations in the area.
PeoplesBank is a mutual bank and therefore is responsible to our depositors, employees, and the community. This organizational structure allows us to focus on the long-term viability of the bank and the best interests of our customers. We currently have 20 banking centers located in Massachusetts and Connecticut.