NYMBUS, a leading provider of banking technology solutions, announced PeoplesBank has gone live with NYMBUS SmartLaunch™ to outsource the technology and remote full-service operations of its new digital-only bank, ZYNLO.
“The approach for banking innovation needs to involve less time and cost”
A competitive force in Massachusetts’ banking landscape with assets exceeding $3 billion, ZYNLO is PeoplesBank’s latest growth strategy to expand its digital reach and engage loyal new customers and revenue opportunities. Designed to simplify the banking experience, it offers a comprehensive range of convenient, flexible and secure digital financial products and services. In partnership with NYMBUS, ZYNLO was quickly accomplished without a core conversion or hiring new resources. NYMBUS provides all of the technical and operational resources required to run and market the new bank, along with 24/7/365 support.
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“Only NYMBUS provided us a comprehensive strategy to quickly introduce a new digital-only effort,” said Brian Canina, Chief Financial Officer of PeoplesBank. “Backed by and running in parallel to our established institution with 135 years of experience in creating satisfied customers, ZYNLO delivers the ideal combination of digital banking convenience and security that today’s consumers depend on.”
A fee-free account, ZYNLO features Zyng, a benefit that rounds up debit card purchases to the nearest dollar and deposits the difference into the customer’s savings account. ZYNLO is also matching those roundups 100 percent for the first 100 days, and then 10 percent after that for an added savings boost. Another popular feature is Early PayDay, which gives customers access to their direct deposit funds up to two days in advance of deposit into their account. An alert feature is also offered on ZYNLO accounts that provides customers with daily balance information as well as upcoming scheduled payments notifications, and all ZYNLO deposits are 100 percent insured through FDIC and DIF.
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