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NYMBUS, Payrailz partner to boost access to digital payments

By Robin Amlot

July 13, 2020

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Miami, Florida-based NYMBUS has announced a partnership with  Connecticut-based digital payments company Payrailz to enhance NYMBUS’ cloud-based SmartEcosystem of digital-first banking products and services. Payrailz was founded to help banks and credit unions succeed by offering a faster and more engaging payment experience. Working in partnership, NYMBUS will offer Payrailz’ digital billing and payment management solutions as part of its integrated offerings.

“Covid-19 has accelerated the speed of transformation required for financial institutions to remain relevant,” said Scott Killoh, CEO of NYMBUS. “Our partnership with Payrailz extends to our bank and credit union customers the smartest payment features this market has seen. At a time when contactless payments are on the rise and seamless digital services have never been more necessary, our combined efforts help to quickly better connect and enhance their relationships with consumers and members.”

The NYMBUS SmartLaunch Banking-as-a-Service (BaaS) model is an extension of the SmartEcosystem. Together with Payrailz, SmartLaunch banks are now empowered to get-to-market in as few as 30 days for consumers to more easily pay bills, pay friends and transfer money digitally.

By leveraging AI and machine learning, Payrailz aims to provide banks and credit unions with a predictive and proactive payment experience. “Payrailz continues to engineer innovative digital payment experiences that meet the growing demands of a ‘Do it for me’ society and simplify our lives,” said Fran Duggan, CEO of Payrailz. “We are pleased that after an extensive search for a new digital payments partner that the NYMBUS team selected Payrailz. We look forward to working in partnership together to enable more banks and credit unions to bridge the gap in their banking relationships with fast, smart and engaging payment experiences that their customers or members can depend on.”

The NYMBUS SmartEcosystem encompasses ​a suite of advanced, digital-first products and services to help transform all aspects of financial institutions, including SmartPlatform, that unifies all required banking functions into a single cloud-based solution, to SmartLaunch, a full-service and outsourced standalone digital bank alternative.

The news of the partnership follows on the heels of the appointment at NYMBUS of Jim Modak as President and Chief Financial Officer and the completion of a $12 million financing round led by the company’s major shareholders, Insight Partners and Vensure Enterprises.

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