Moxy picks Nymbus to power DC’s newest bank for 20 years

via FinTech Futures

Nymbus’ SmartCore cloud-based core platform has been picked to support Moxy Bank, Washington DC’s newest bank in two decades, reports Jane Connolly.

The bank will also implement Nymbus’ SmartDigital for internet and mobile banking and SmartPayments for debit card processing and fraud protection.

Casey G Mauldin, president and CEO of Moxy, says: “Moxy’s progressive and innovative approach to banking will provide greater convenience, advocacy and personalised financial services to its users.

“We ultimately turned to Nymbus for its open API architecture and fully customisable software solutions.”

Using a low-cost subscription model, Moxy – also the first new financial institution in the DC, Maryland and Virginia region for over ten years – aims to create financial equality in unbanked and underbanked communities.

Recently approved by the Federal Deposit Insurance Corp (FDIC) and District of Columbia’s Department of Insurance, Securities and Banking, the new bank will implement Nymbus’ full suite of core, internet banking, mobile banking and payment solutions.

Moxy says its subscribers will have access to a wide range of financial services in one solution, including digital and on-demand savings accounts, small business accounts, lending services, financial wellness and literacy, online account opening, mobile deposit, bill pay, person-to-person (P2P) payments, ATM access, text alerts and video banking services.