NYMBUS, the world's first complete, full-stack, API-driven core processing platform, announced today the acquisition of KMR, a provider of software services and products to credit unions which was founded in 2007.
The acquisition marks the second in as many weeks for Nymbus, as it continues growing rapidly in expanding its capabilities, geographic footprint and client base nationwide.
“The world of fintech is moving at blazing speed, and we are proud to spearhead the evolution of core banking on behalf of our entire ecosystem; including investors, team members and customers,” added Scott Killoh, Chairman of the Board of NYMBUS.
KMR was renowned for its two key products under the trade name of AgilityFOUR. AgilityWeb is full featured home banking solution, while AgilityOrg is a powerful web-based suite of credit union management and compliance tools. Kai Ravnborg, formerly President of KMR and founder of CU Solutions, a core processing company that was sold to Jack Henry in 2002, officially joins the Nymbus leadership team. He brings a long history in the space, having developed the first PC-based credit union core system, the first Windows-based credit union core application, the first IP-based on-line ATM processor for credit unions and the NCUA ALMS system. Kai will be Chief Product Officer of CUNYMBUS.
"When Eric Isham (Chief of Business Development) called me to introduce NYMBUS, and I viewed the demo, I knew I had seen the future of core processing. I was absolutely blown away!” said Kai Ravnborg. “This is such an exciting time to be involved in technology and financial services, and teaming up with NYMBUS was a no-brainer."
In addition to its focal point on traditional community banks across the country, Nymbus launched a collaborative credit union service organization (CUSO) in March of this year, called CUNYMBUS. This CUSO leverages the powerful NYMBUS enterprise cloud platform that is the result of more than $200 million in invested capital.
Founded on the guiding principle of helping credit unions best serve their increasingly tech-savvy members, this CUSO merges NYMBUS' existing channels, features and pre-integrated services into a single stacked core, and includes a powerful suite of collaborative tools that allow credit unions to seamlessly share expertise. Credit union members of CUNYMBUS currently have opportunities to invest in the platform, hold board seats and have a voice in the strategic direction of the platform.
“We’re thrilled to welcome KMR to the team, and look forward to benefitting from the various innovations they’ve brought to the industry which are now available for our growing customer base,” said Alex Lopatine, Founder of NYMBUS. "We believe in the power of credit union providers collaborating together, and this recent acquisition speaks to our long-term mission to revolutionize the core processing industry to the benefit for our customers.”