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NYMBUS sends cheeky message to bankers at Money 20/20 with 'goodbye to '80s party'
HomeNewsNYMBUS sends cheeky message to bankers at Money 20/20 with 'goodbye to '80s party'

NYMBUS sends cheeky message to bankers at Money 20/20 with 'goodbye to '80s party'

News Desk
News Desk
January 31st, 2023
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LAS VEGAS, Nev. – Online banking solutions provider NYMBUS chose a unique way to introduce themselves to the world at the recent Money20/20 conference in Las Vegas.

They threw a “Goodbye to the ’80s” party, complete with Madonna and Prince impersonators and people dressed like those dancers in the Robert Palmer videos. They even promised to give away the last diskette.

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Alex Lopatine
NYMBUS provides all of the elements necessary to build the product without changing the stack or having to make constant integrations to the core, Mr. Killoh said. That process began 12 years ago and adapting it to banking was easy relative to building the stack.

Their core processing software allows for complete customization based on each customer’s needs. The dashboard comes with a drag and drop feature allowing users to set priorities while a single sign-on eliminates the need to remember multiple passwords. A search function easily scans those multiple accounts.

A unique page gets generated for each individual client who is rated on either a star or numerical scale based on their importance to the institution. When that person’s activity suggests a cross-sell opportunity, the institution is notified.

NYMBUS’ capability also allows for the collection of information on each individual’s social contacts so those people can be more effectively marketed to.

All of that back end work needs to produce a seamless front end experience, Mr. Lopatine said, because that is what millennials expect.

“With technology we expect the experience to be perfect.”

Mr. Lopatine drew from his retail experience in his explanation.

“The consumerization of enterprise, that is really what this is. How do you make enterprise IT act like a consumer-based product with the same responsiveness?”

“Unless you have everything built right you can’t do it.”

Also hurting banks is an attitude where they see themselves as processing companies and not software companies, Mr. Lopatine added. They keep investing in legacy payment trails when no one knows what those trails will look like in the future. Legacy technology is consolidated and they do not evolve with client needs.

That is a dangerous path, Mr. Lopatine suggests.

“We take a 360-degree view of the client. A relational database is set up so we see everything around the client in the right way.”

That allows the bank to see exactly who the client is, he added.

A NYMBUS solution is also more secure because it employs one set of software and one data set, Mr. Killoh explained. A bank may use 20 different software programs, and breaches are most likely when data is transferred between systems. That is what happened to Target, he said.

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