Miami-based NYMBUS announced the licensing of NCR’s D3 Digital Banking platform (D3) to give financial institutions the opportunity to quickly offer customers new brands, the FinTech announced in a press release on Monday (Oct. 7).
“In today’s highly competitive financial services environment, institutions can no longer rely on dated or stagnant technology to grow their business,” said David Mitchell, president of NYMBUS. “Combining NCR’s D3 digital banking platform with NYMBUS’ core banking platform allows us to better serve progressive financial institutions and corporations with well-known brands seeking to address the needs of digital-savvy customers in high-growth market segments.”
NYMBUS, a provider of cloud-based core technology for financial institutions, was founded by Scott Killoh in 2015.
In July, NCR, a global enterprise technology company for restaurants, retailers and banks, acquired D3 Technology, an online and mobile banking specialist.
“Financial institutions are introducing digital bank brands to meet the needs of Gen Z and millennials, address new market segments and drive deposit growth,” said Mark Vipond, general manager, NCR D3 Digital Banking. “Combining our platforms allows financial institutions to rapidly go to market with digital banking offerings, quickly accelerate growth and meet the needs of their customers.”
D3 offers a customer-centric solution for large banks that have risen to prominence in the industry as a digital platform. NCR is best known for its cloud-based solutions for the community financial institutions (CFI) market; the D3 acquisition expands its on-premise offerings for large financial institutions (LFIs).
The two companies have very different products and platforms, and the deal will result in complementary offerings for FI clients, said Douglas Brown, senior vice president and general manager of digital banking for NCR.
“There will be much more customization than is traditionally available, and we will be able to leverage our sales and distribution model,” he said. “By [adding this] platform and product capabilities, we will achieve significant acceleration in growth.”