Thursday, April 26, 2018

Escrow net

Nymbus Will Help Banks Launch A Standalone Brand in 90 Days
 Nymbus, a startup taking on what is arguably banking’s biggest problem — aging, outdated cores — announced a new product today called SmartLaunch, which “enables financial institutions to stand up a turnkey digital brand under their existing charter in as few as 90 days.” 
 This is an interesting move from Nymbus. Rather than converting an existing core (or cores, in the case of many banks) Nymbus proposes to build a new core alongside the old one, and even help develop an ancillary brand. This can be an inexpensive alternative to the “heart transplant” a core replacement requires, and can allow banks to test modern cores with a smaller customer base. 
And it comes with order book of things to connect, including prequals. Complete with escrow language. Sandbox in action.

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