ConnectOne Bank, a subsidiary of ConnectOne Bancorp, Inc., on Thursday (May 5) announced a partnership with cloud-native banking technology platform Nymbus to offer digital business banking solutions, according to a joint press release.
“Since inception, ConnectOne Bank’s mission has been to offer our clients best-in-class banking experiences tailored to their unique needs,” said Frank Sorrentino III, chairman & CEO of ConnectOne Bank, in the joint press release. “As we diversify our client roster, partnering with Nymbus allows us to continue that mission by building a niche-based vertical powered by leading technology,” he said.
ConnectOne will leverage Nymbus’ product suite with data and brand strategy to build new solutions, according to the press release. The bank plans to launch products through its Nymbus collaboration by the end of the year.
Related: For Banking Industry, Cloud Migration a Question of When, Not If
In March, Early Warning Services Chief Technology Officer Milind Nagnur told PYMNTS in an interview that “every financial institution (FI) is somewhere or other on the spectrum of transitioning to the cloud.”
There’s no resistance to doing so as banks realize that they need to deliver optimal customer experiences across digital and mobile applications with real-time responses, he said. Content must be ready and relevant to the end user, and at the same time, the FI must be careful not to sacrifice trust and security.
The cloud allows FIs to embrace the latest and greatest tech at any given point in time — no matter if it’s related to machine learning, quantum computing or the metaverse, he said.
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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORE CARDS – APRIL 2022
About: Shoppers who have store cards use them for 87% of all eligible purchases — but this doesn’t mean retailers should boot buy now, pay later (BNPL) options from checkout. The Truth About BNPL And Store Cards, a PYMNTS and PayPal collaboration, surveys 2,161 consumers to find out why providing both BNPL and store cards are key to helping merchants maximize conversion.