PeoplesBank and Nymbus expand partnership with Core Banking upgrade

By Edlyn Cardoza

NYMBUS®, a leading provider of banking technology solutions, recently announced that PeoplesBank has selected the company 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 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 2000% 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, IBS Intelligence reported that NYMBUS, announced the successful conversion of TransPecos Banks, SSB from its legacy core system over to Nymbus.