Nymbus announces strategic partnership with Plaid

By Pavithra R

Nymbus, a leading provider of banking technology solutions, has announced partnering with Plaid, a data network powering the digital financial ecosystem, to more instantly authenticate and fund customer bank accounts for financial institutions.

Through this integration, Nymbus bank and credit union clients can securely onboard new users swiftly, which translates to more active and engaged banking experiences.

“As more consumers than ever before rely on digital finances for their everyday lives, financial institutions need to meet their customers where they are while supporting safe and reliable money management experiences. Our expanding network of partners are important contributors to Nymbus’ combined portfolio of the technology, people and process available to quickly innovate with new routes to market and revenue streams,” said Sarah Howell, Chief Alliance Officer at Nymbus.

Plaid’s data network enables consumers to connect their financial accounts at over 11,000 institutions globally to more than 5,000 digital finance apps, including leading payments, investing and budgeting tools.

Benefits of the Nymbus and Plaid integration for financial institution customers include:

• Improve user identity verification and reduce fraud.
• Instantly authenticate and link members’ bank accounts.
• Streamline ACH transfers between any bank or credit union in the US.
• Access and analyze comprehensive transaction data.
• Validate real-time account balances to protect against overdraft and enable account pre-funding.

Founded in 2015, Nymbus is a leading provider of banking technology solutions for financial institutions to innovate and grow. With its complete suite of banking technology, tools and on-demand services, Nymbus makes digital transformation quickly and easily available to move financial institutions of any size forward.