NYMBUS swipes $12m for core banking technology

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fintech insurtech wealthtech regtech ai cybertech esg news

NYMBUS, a core processing platform for banks, has raised $12m in new funding. The SaaS company says the financing was led by the major shareholders of Vensure Enterprises.

The Miami-based company develops core banking infrastructure software and hardware for financial institutions that is designed to adapt to new technologies and allow growth.

“NYMBUS is here to help the 12,500 financial institutions encumbered by some of the oldest enterprise technology still in use, many developed as long as 30 to 40 years ago,” said NYMBUS CEO Scott Killoh.

“These banks and credit unions have a strained business model, as they face increasing operational costs, severe regulatory pressures, while also being forced to utilize technology that is putting them at risk for survival. They desperately need an alternative to survive, grow and support their local communities”

This is the first disclosed round of funding raised by the firm, which has already made three acquisitions this year.

NYMBUS says it will use the capital to scale its user base, as well as service and support teams.

Copyright © 2016 FINTECH GLOBAL

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