Moxy Bank, a Washington, D.C.-based business banking and financial services firm, as per recent reports, has chosen Nymbus, a Miami Beach, Florida-based pioneer in advanced revenue and technology solutions, for its SmartCore cloud-based core platform to support the bank’s core operations.
Furthermore, the Washington, D.C.-based Moxy Bank, also plans to implement the SmartDigital and SmartPayments solutions from Nymbus for it’s mobile and net banking; and debit card processing and fraud protection operations respectively.
Speaking on this context, Casey G Mauldin, president and CEO of Moxy, says: “Moxy’s progressive and innovative approach to banking will provide greater convenience, advocacy, and personalized financial services to its users.” “We ultimately turned to Nymbus for its open API architecture and fully customizable software solutions.”
By employing a low-cost subscription model, Moxy – founded in 2018, the financial startup is the only new financial institution that has been established in DC, Maryland, and Virginia regions in over ten years – aims to balance the unbanked and underbanked communities by offering financial equality.
Moxy recently got the approval from the Federal Deposit Insurance Corp (FDIC) and District of Columbia’s Department of Insurance, Securities and Banking. The new startup bank will be implementing the Florida-based Nymbus’ full suite of solutions from the core, through to internet banking, mobile banking, to payment solutions.
Additionally, Moxy claims its subscriber-base will be provided access to a wide range of financial services in a single solution, which comprises of 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.