When NYMBUS launched its latest service for banks and credit unions, it did so in an effort to pull legacy banking players into the future of digital finance. The company’s latest move is an extension of that effort.
Reports last week said NYMBUS will now be working with Payveris, a U.S.-based digital payments company. Banks and credit unions transferring to the NYMBUS platform will now have integrated Payveris capabilities, which include B2B payments, corporate bill pay and account-to-account external transfers, as well as other consumer-focused payments tools.
According to the companies, their collaboration will help smaller financial institutions access the power of digital banking and payments to provide easier, faster services for customers.
In a statement, NYMBUS President and Co-CEO Alex Lopatine explained why the company opted not to create its own payments tool.
“Rather than starting from scratch with our own digital payments platform, we were looking to partner with a reputable company that had not only an impressive product but also shared our philosophy of continuous innovation,” he said.
The NYMBUS Software-as-a-Service tool offers a cloud-based platform for FIs to allow them to offer banking services to customers on any device. The companies said NYMBUS and Payveris together will “significantly trim bankers’ time spent managing online transactions.”
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“The way people interact with financial institutions is continuing to change, with the bulk of transactions taking place outside the bricks and mortar,” said Payveris President Jeff Weikert in a separate statement. “Legacy technology providers have been slow to catch up, and together with NYMBUS, we’re solving the problem of old technology and providing banks and their customers exactly what they want — a way to conveniently pay bills, move money between their accounts at various institutions and pay friends or merchants.”