Fintech pioneer helps credit unions and community banking customers accelerate the shift to digital with open source cloud platform
Red Hat, the world’s leading provider of open source solutions, announced that NYMBUS has established Red Hat OpenShift as the cloud platform for its digital banking ecosystem, enabling the company to help its customers, including community banks and credit unions, accelerate their digital transformation initiatives using innovative and flexible Software-as-a-Service (SaaS) solutions.
As consumer preferences and behaviors have shifted in the wake of the COVID-19 pandemic, digital is becoming the primary way for customers to engage with their banks. This trend, combined with growing competitive pressures from more nimble start-ups, is accelerating the need for credit unions and community banks to adopt a complete, end-to-end, digital banking platform.
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Nymbus addresses this need by providing a turn-key digital bank-in-a-box offering that includes all of the technological and operational resources required to easily launch and operate a digital bank or brand in as little as 90 days. Built on Red Hat OpenShift, the industry’s leading enterprise Kubernetes platform, Nymbus’ solution can now be deployed in any cloud that the customer wishes to use, enabling the end-to-end launch of an entire bank running on OpenShift.
The open hybrid cloud is designed to avoid technology lock-in, which creates dependency on one particular vendor, stifles innovation and results in less flexibility. Nymbus chose OpenShift to power all of its digital banking services for the security features, reliability and efficiency of the application and data environment it provides. With OpenShift, Nymbus extends its existing multi-cloud strategy for banking across any combination of public or private clouds. This allows customers to leverage any preferred cloud without being cloud-dependent.
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Richard Harmon, vice president and global head of financial services, Red Hat
“Cloud technology is reshaping the way banking services are created and delivered in our digital world. It is providing service providers the ability to quickly adapt to market changes and make it easier for community banks and credit unions to consume new software. We are excited to work with Nymbus to bring the innovation of open source and cloud technology to the market. Nymbus truly embraces the open source way of working, and we are looking forward to contributing to their success.”
Jeffery Kendall, Chairman & CEO, Nymbus
“The COVID-19 pandemic has changed the way we bank, possibly forever. It provided the push for local banks and credit unions to establish more secure, flexible, end-to-end digital banking solutions. With Red Hat, our partner financial institutions are now granted greater freedom of choice with their cloud strategy and the multi-cloud uptime that is critical for the banking industry.”
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