NYMBUS selects Red Hat OpenShift for its digital banking services

By Megha Bhattacharya

Open-source solution provider Red Hat announced that NYMBUS has established Red Hat OpenShift as the cloud platform for its digital banking ecosystem. The integration is expected to enable the company to help its customers, including community banks and credit unions, accelerate their digital transformation initiatives using innovative and flexible Software-as-a-Service (SaaS) solutions.

Richard Harmon, vice president and global head of financial services, Red Hat said, “Cloud technology is reshaping the way banking services are created and delivered in our digital world. It is providing service providers the ability to quickly adapt to market changes and make it easier for community banks and credit unions to consume new software. We are excited to work with NYMBUS to bring the innovation of open source and cloud technology to the market. NYMBUS truly embraces the open source way of working, and we are looking forward to contributing to their success.”

NYMBUS’ solution can be deployed in any cloud that the customer wishes to use, enabling the end-to-end launch of an entire bank running on OpenShift. According to the company, it selected OpenShift to power all of its digital banking services for the security features, reliability and efficiency of the application and data environment it provides. The solution enables NYMBUS to extend its existing multi-cloud strategy for banking across any combination of public or private clouds, allowing customers to leverage any preferred cloud without being cloud-dependent.

Jeffery Kendall, Chairman & CEO, NYMBUS said, “The COVID-19 pandemic has changed the way we bank, possibly forever. It provided the push for local banks and credit unions to establish more secure, flexible, end-to-end digital banking solutions. With Red Hat, our partner financial institutions are now granted greater freedom of choice with their cloud strategy and the multi-cloud uptime that is critical for the banking industry.”

Recently, NYMBUS announced raising $53 mn in Series C funding led by existing investor Insight Partners. The FinTech is planning to leverage the finance to empower FIs with expanded access to its unique GROW model, which creates new digital revenue streams for banks and credit unions.