Consumers and companies now expect digital banking to deliver more than just online access to traditional branch banking services. Nymbus and its alternatives help community banks and credit unions enter the digital banking market through a full suite of applications, operational resources, and strategic guidance to modernize and optimize existing channels.
With its all-in-one platform, Nymbus works with clients to quickly launch boutique banks for specialized customer segments. This is at a lower cost than custom solutions.
The platform aims to help financial institutions create a digital bank, capture new customers and grow their business. It also offers a fully integrated CRM solution.
Overview of Nymbus
Nymbus enables banks and credit unions of any size to attain growth and attract new exciting market segments by delivering the right digital products and operational resources to launch a new digital bank. It does this while mitigating the need for a core conversion and providing the back-office support required to run a bank.
Launch is a proven Nymbus turn-key solution that equips financial institutions with the toolbox needed to set up a fully secure and compliant digital bank in 90 days or less. With Launch, there is no need to hire additional staff because Nymbus delivers complete operational support and a dedicated call center. Launch also helps banks prepare to market quickly and at a lower customer acquisition cost than the traditional model with the right people, process, and technology in place from the start.
Nymbus provides niche solutions to help community banks and credit unions launch and support digital banking services. To improve flexibility and support rapid growth, Nymbus decided to move its portfolio platform in-house with Red Hat OpenShift running on Nutanix hyper-converged infrastructure (HCI).
This container-based infrastructure from Red Hat and Nutanix helps the company rapidly develop and deliver new, innovative services to its customers at scale. All of these while maintaining critical security compliance through joint expert support.
Nymbus Features
The top five features of Nymbus are:
- Risk Management
- Transaction Monitoring
- Credit Card Management
- Compliance Tracking
- Multi-Branch
Additional features include:
- Technical & operations resources
- Experienced banking specialists
- Eliminate hiring costs, scale faster
- Award-winning platform
- Pre-built integrations
- Completely configurable through multiple microservices and frameworks
- A catalyst to BaaS
- Stand up a new digital bank quickly
- Advanced security & compliance
- End-to-end banking system solution
- Fully integrated with CRM & marketing
- Optimizes CAC & conversion
- Drive new account & revenue growth
Benefits of using Nymbus
- Enhanced flexibility to deliver new features faster
- Achieved scalability to simultaneously build five times as many custom solutions
- Enhanced security and compliance with joint vendor support
Top Nymbus Alternatives
Temenos Transact
Temenos Transact is a cloud-based core banking solution that helps organizations across retail, finance, corporate and various other banking sectors launch products while optimizing operational costs. The application enables professionals to manage the entire product lifecycle and cross-sell them to new or existing customers. Banks can create personalized reward schemes or offers at the individual or household level.
Temenos Transact also enables banks to bundle various products according to different customer segments using interest compensation schemes and offset credit products. Features include data visualization, user management, secure login, and credit checks.
Built on a microservice architecture, the application helps banks manage business processes associated with customer onboarding, product origination, and task assignments. With Temenos Transact’s embedded analytics module, managers can determine customer engagement strategies and promote profitable products using various financial models including fund transfer pricing and activity-based costing. Small banks can process loans by utilizing the platform’s collateral management and secured and unsecured lending capabilities.
Temenos Transact offers API-based integration with various fintech platforms such as Apiax, Callsign, Circit, Edgelab, essDOCS, Iovation, Plaid, and more. The AI-powered application enables banking professionals to capture, authorize, and submit both international and domestic payments, suggest optimal routes of money flow, and offer personalized payment services to clients at the account level.
Flinks
Flinks is the creator of a powerful no-code platform and financial data APIs that make it easy and efficient for teams to build with financial data. Trusted by millions of individuals accessing financial services at world-class companies, the platform’s purpose is to make the struggles of open banking a thing of the past.
Flinks’ major selling points include:
Enrichment: Upgrade your data stack to power data-driven use cases with actionable insights.
Flinks Enrichment is the smart analytics layer on top of your raw retail and business banking data. Whether your data pipeline is coming from Flinks, or you’re BYOD (bringing-your-own-data) from your existing integrations or open-banking providers—extracting actionable, model-ready insights for credit risk analysis, income verification, life event detection or fraud prevention couldn’t be easier.
Connectivity: Power your solutions with the most-performing financial data
Flinks lets you easily provide API consumers with your service so they can securely connect their financial accounts and share the data you need. From KYC to transactional data and assets, Flinks Connectivity is the backbone that will power your business and put you ahead of the competition.
Flinks also supports financial service providers across industries and sizes. From consumer and commercial lending, payments, digital banking, and fintech, to wealth management, it powers different use cases and enables financial innovation for you and your customers.
Finflux
Finflux is a SaaS-based lending platform that offers all-in-one solutions for needs of loan origination, loan management, and financial accounting. It also offers marketplace integration, app-based lending, alternative data-based credit scoring, dashboards & reporting, and analytics.
At present, Finflux serves about 4+ million borrowers with an active loan portfolio of $3.2 billion.
FinFlux is a fast-growing lending platform that offers classic and bespoke solutions. They can serve myriad institutions ranging from those who serve the bottom of the pyramid (BOP) to nuanced (non)-banking/financial institutions. This also includes Microfinance, SACCOs, Banks, FIs, evolving Fintechs, Business Correspondents, Aggregators in the origination process, Agent networks, and many more.
Finflux breaks the transactional input model into an outcomes-based model to achieve competitive advantage. Digitization, authoring underwriting rules, rules-based automation in workflows, tiered maker-checkers, and approvals offer makes a difference in the customer experience and digital journey.
The platform comes with many must-have integrations and marketplace nexus to improve the time to market. It is purely a SaaS-based model, aimed truly at impeccable architecture. It is fine-tuned for performance benefits (API round trip times < 2 seconds), banking grade security & compliance, and scale on demand.
Finacle
Finacle is an industry-leading universal banking solution from EdgeVerve Systems. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world.
For over 25 years, Finacle has been helping financial institutions develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. Today, it is the choice of banks across 94 countries and serves over 848 million customers – estimated to be nearly 16.5% of the world’s adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 world banks reveals that banks powered by Finacle enjoy 50% higher returns on assets, 30% higher returns on capital, and 8.1% points lesser costs to income than others.
Features include:
- A comprehensive, integrated yet modular agile business solution
- Addresses all the core needs of the bank, in easy-to-configure modules
- Multi-entity capabilities to support multiple legal entities, across various geographies, currencies, and time zones on a single application instance
- Easy to configure modules and components
TurnKey Lender
TurnKey Lender is a global ULM (Unified Lending Management) leader. The company designs and develops intelligent award-winning software products that automate the entire lending process. The solution’s capabilities cover traditional and alternative lending, SME financing, grant management, money lending, leasing, trade finance, in-house financing, and more.
As a pioneer in the development of AI software for lenders, TurnKey Lender is quickly gaining traction within regions like the United States, APAC, and the EU. It provides an end-to-end system that automates every step of the lending process, from the loan application and borrower evaluation to origination, underwriting, servicing, collection, reporting, compliance, and more.
The system is powered by proprietary deep neural networks and machine learning algorithms that allow for unmatched credit decision-making accuracy and overall security.
All types of lenders are already using the company’s solutions ranging from large/mid-size banks, digital lenders, and multi-finance companies. It also serves trade finance operators, traditional and non-traditional lenders, and telecoms. TurnKey Lender serves customers in 50+ countries, and the list keeps growing.
MX Financial Technologies
MX is a leading data platform for banks, credit unions, and fintechs. It enables its clients and partners to easily collect, enhance, analyze, present, and act on financial data. A financial data platform and leader in modern connectivity, MX helps organizations everywhere connect to the world’s financial data and turn raw, unstructured data into their most valuable asset to deliver intelligent and personalized money experiences.
The platform connects more than 16,000 financial institutions and fintechs providing the industry’s most reliable and secure data connectivity network.
MX Technologies enhances financial data by cleansing, categorizing, and adding metadata. This empowers organizations to deliver personalized experiences, reduce fraud, approve loans faster, and help customers save and invest smarter.
Using the MX platform and products, MX clients are able to understand their customers in real-time like never before. This allows them to be truly customer-centric. It also empowers them to grow faster and deliver an exceptional customer experience all while reducing costs.
BankPoint
BankPoint is an intuitive cloud-based system that aims to dramatically improve and simplify the way commercial banks and non-bank lenders operate. It seamlessly integrates with back-end systems, including core banking systems and document imaging systems, to provide a single point of entry for the entire staff.
The system provides workflow and automation for the entire life of a loan. From loan origination and document collection to portfolio management, covenant tracking, loan review, approval workflow, and more.
Based in McKinney, TX, BankPoint has been operating in the banking and lending space since 2002. The company started as a consulting firm helping banks evaluate, select, and implement critical systems such as core banking systems, imaging systems, digital banking systems, commercial loan systems, and related FinTech. In 2006, the platform partnered with multiple banks to create a system that fills the identified gaps in existing banking and commercial lending systems.
Since that time, it has been implemented in dozens of commercial banks and non-bank lenders to help automate and streamline their daily operations.
BankPoint system’s design aims at intuitiveness and user-friendliness for all areas of commercial lending and banking, including:
- Lenders
- Credit Admins
- Loan Ops
- Relationship Managers
- Portfolio Managers
- Executives
- Admins
- Special Assets Managers
- REO Managers
- Treasury Management Users, and more.
ICBS
ICBS (Integrated Computerized Banking System) is a comprehensive system designed to manage and control the front and back office operations of banks and other financial institutions. It is a universal banking system aligned with international standards while meeting the local specifications to assure compliance.
ICBS is internationally recognized and widely adopted by the financial community. It is referenced by “International Banking System” (IBS) Publishing and selected by Gartner Consulting in the Magic Quadrant for Core Banking.
ICBS is available on Oracle multitier web platforms in-premises or “On Cloud”.
Mambu
Mambu is a lean alternative to cumbersome core banking systems, a cloud-native service supporting composable API-enabled ecosystems. It empowers customers to successfully start up new business ventures, transform existing operations, launch new products, and expand into new markets.
Mambu’s modern composable API-powered architecture and configuration enable business agility. Its cloud-based infrastructure, automated services, and low resource and physical footprint reduce operating costs
- Agile: Implementation in weeks or months instead of years
- Flexible: Change products and features in days, leveraging best-of-breed technology
- Scalable: Ability to meet growing and changing business needs
- Fully digital: API-driven architecture and composable, cloud-native solution
- Future-proof: Due to ongoing releases
- AWS-ready: One of the first cloud-based core providers to receive AWS accreditation
- Highly configurable: There is no need to customize as customers can build a modular environment and integrate external best-of-breed modules
- Innovative: With input from customers, partners, and the industry, Mambu is adding and rolling out major improvements every quarter
Avaloq
Avaloq is driving the digital transformation and automation of the financial services industry, with customers among leading banks. Based on fully integrated banking software, it creates powerful digital experiences provided through a standardized Business Process as a Service (BPaaS) or Software as a Service (SaaS) model to banks and wealth managers.
The Avaloq core banking platform offers a solid foundation for the firm’s future growth, whether organic or through acquisitions. The new platform lets the firm focus on its digital expansion and serving its clients, confident that it can easily integrate future acquisitions and respond to the demands of a new generation of clients, who insist on more personal and purpose-driven engagement.
To further spur innovation, the platform works with customers, other fintechs, universities, and hundreds of third-party developers in a uniquely collaborative way called the Avaloq Ecosystem.
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