Massachusetts-based PeoplesBank has enlisted cloud-based core banking provider Nymbus to help it launch a digital-only subsidiary called Zynlo.
Zynlo is offering a digital fee-free account with features including a debit card purchase roundup offering that puts the difference into the customer’s savings account and an 'early payday' service which gives users access to their direct deposit funds up to two days in advance of deposit into their account.
Zynlo is running on Nymbus technology, with the vendor providing all of the technical and operational resources required to run, market and support the digital bank.
Brian Canina, CFO, PeoplesBank, says: "Backed by and running in parallel to our established institution with 135 years of experience in creating satisfied customers, Zynlo delivers the ideal combination of digital banking convenience and security that today’s consumers depend on."