B2B Payments

NYMBUS Partnership With Payrailz Could Help Banks Digitize Faster

NYMBUS, Payrailz Team To Help Digitize Banks

Financial services platform NYMBUS announced a partnership with digital payments company Payrailz to help more financial institutions (FIs) quickly transition to digital banking services, according to a press release.

The partnership, according to NYMBUS CEO Scott Killoh, is especially relevant during the time of the pandemic as businesses switch to digital in more comprehensive ways.

“COVID-19 has accelerated the speed of transformation required for financial institutions to remain relevant,” he said, according to the release. “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 partnership will encompass NYMBUS using Payrailz's digital billing and payment management services as part of its system of offerings.

NYMBUS touts its SmartLaunch program in the release, a Banking-as-a-Service tool that works to bundle technology to help clients become digital banks. The tool also includes complete operational support, full digital onboarding services, marketing and integrated customer relationship management (CRM) solutions to help set up a whole digital bank.

The release states that Payrailz's inclusion will be able to help businesses get a digital bank up and running within 30 days, allowing customers to pay bills, transfer money and more.

Payrailz CEO Fran Duggan said the partnership would keep helping businesses meet new, digital needs.

“Payrailz continues to engineer innovative digital payment experiences that meet the growing demands of a ‘Do it for me’ society and simplify our lives,” Duggan said, according to the release. “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.”

During the pandemic, NYMBUS has also worked to accelerate the loan process via automation.

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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