Surety Bank to swap legacy core banking system for Nymbus’ SmartCore
Nymbus inks new core banking software deal
Florida-based Surety Bank is embarking on a core banking software overhaul with Nymbus. The bank will implement Nymbus’ flagship SmartCore system.
The solution will be delivered in a private cloud.
According to Ryan James, CEO of Surety Bank, Nymbus was “the only company that gave us confidence of having the modern technology we needed and personalised service for ease of implementation”.
He adds that over the past two decades, the bank has upgraded different products with its incumbent core, “and every step of the process has been excruciatingly painful, from delayed implementations and cost overruns to grossly missed expectations upon implementation”.
So it was clear to the bank, “given these experiences”, that the traditional banking model was prime for disruption, he states. He feels that Nymbus “is best positioned to stand at the core of this disruption”.
Earlier, Kaiperm Diablo Federal Credit Union in California and Chrome Federal Credit Union in Pennsylvania became the first known takers of Smartcore.
SmartCore is a brand new core banking system, brought to the US market in 2015. It is aimed at the domestic credit unions and community banks.
Over the last year, Nymbus has inked a number of partnerships with other fintech companies and has also made several acquisitions.
