Texas-based TransPecos Banks has selected Nymbus and its SmartLaunch solution to outsource the operation of its new digital bank brand, BankMD.

The bank had “quickly realised” that its current technology was “not capable of delivering the experiences, innovative solutions or services” to meet customers’ expectations,” according to VP and secretary, Dub Sutherland.

He added: “What attracted us to Nymbus was the ability for SmartLaunch to rapidly support our new standalone BankMD brand and provide a modern customer experience to this targeted digital audience of medical professionals. Nymbus does this with no disruption or cost to our existing bank infrastructure and they are willing and able to integrate with our cloud-based loan origination platform.

“Not only does this eliminate the need to manage another project or go through a technology conversion, but also the risks and obstacles we’ve previously faced while exploring digital transformation strategies.”

Related: Inspire Credit Unions swaps 15 legacy solutions for Nymbus

David Mitchell, President of Nymbus, added: “What we are pioneering is a strategy to help financial institutions with a business transformation which is focused on keeping their core competencies and shedding non-core operations to Nymbus’ best-practice sourcing centre.”

Furthered Mitchell, “Assembling all of the required technical and human components would typically burden an organization’s time-to-market and bottom line. SmartLaunch resolves these barriers to entry by providing all of the necessary technology, expert staff and full marketing support to ensure that the new brand gets maximum exposure to quickly and efficiently capture its new targeted audience.”

Specific to TransPecos Banks, SmartLaunch is delivering outsourced support for BankMD—their separate digital-only brand that is focused on serving the unique financial needs of medical professionals. Financial institutions can also use their established market brand for introducing a digital bank with SmartLaunch. In either scenario, Nymbus handles this in as few as 90 days under the institution’s existing charter.

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com