NYMBUS, a provider of the world’s most advanced financial services platform, today announced TransPecos Banks has gone live with NYMBUS SmartLaunch to outsource the infrastructure and operations of its digital-only bank brand, BankMD.
Together with NYMBUS, TransPecos Banks will provide a modern onboarding, Internet banking and mobile banking experience to a niche audience of medical professionals throughout the state of Texas.
Already serving its established banking customers throughout three regional locations in West Texas, BankMD is TransPecos Banks’ latest business transformation strategy to expand its digital reach and engage loyal new customers and revenue opportunities. By outsourcing the technology and broader operations to NYMBUS, BankMD was quickly launched with no disruption or risk to the Bank’s existing core infrastructure.
“At BankMD, we are dedicated to creating specialized products and a service culture that meets physicians’ unique needs and demands,” said Dub Sutherland, Vice President and Secretary of TransPecos Financial Corp., bank holding company of TransPecos Banks. “NYMBUS was the only technology partner to take our concept and bring it to life, allowing us to quickly innovate and compete with the new non-traditional fintechs entering the market. Furthermore, SmartLaunch completely eliminated the need for a technology conversion, enabling us to focus on our core business while NYMBUS handled the end-to-end operations to get BankMD up and running.”
Recognizing that innovation has to happen immediately for financial institutions to compete and stay relevant, NYMBUS introduced SmartLaunch as a low-risk digital brand solution that can be stood up in record time to quickly generate sustainable new deposits and growth. This Banking-as-a-Service (BaaS) model outsources the entire operation of a digital bank or branch—from a customer-facing call center and back-office operations to targeted digital marketing and website services—to NYMBUS’ team of industry banking experts. SmartLaunch is also built on NYMBUS’ modern, digital-first SmartCore® platform, which bypasses the need to undergo a technology conversion. The legacy operation isn’t disrupted and no additional staff is required.
“Launching a niche, standalone digital experience has gained tremendous momentum as an opportunity for financial institutions to compete and grow revenue. However, many traditional banks and credit unions are still not where they need to be from a technical standpoint to introduce a new digital-only bank anytime soon,” said David Mitchell, President of NYMBUS. “SmartLaunch eliminates the barriers to entry by providing a fully-operational digital bank at a fraction of the time and cost. We’re thrilled to support BankMD and the growing number of institutions that recognize SmartLaunch as the only viable option to rapidly innovate at the speed our market requires.”
Furthered Mitchell, “Coupled with the selection and current conversion to upgrade TransPecos Banks’ existing core, payments and digital solutions over to NYMBUS as well, we are ecstatic to deliver on both their immediate and long-term business goals.”