Nymbus Teams up with FinTech Company Plaid

Nymbus, a leading provider of banking technology solutions for financial institutions, recently announced its partnership with FinTech company Plaid.

According to the official press release, the latest partnership is expected to more instantly authenticate and fund customer bank accounts for financial institutions. 

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With this integration, Nymbus bank and credit union clients can securely onboard new users in a matter of seconds, which translates to more active and engaged banking experiences.

Below are the benefits of the Nymbus and Plaid integration for financial institution customers:

• Improve user identity verification and reduce fraud.

• Instantly authenticate and link members’ bank accounts.

• Streamline ACH transfers between any bank or credit union in the US.

• Access and analyze comprehensive transaction data.

• Validate real-time account balances to protect against overdraft and enable account pre-funding.

As Fazzaco reported earlier, ​Plaid has announced partnering with Square​ to give merchants in the US a better experience regarding ACH payments. Square uses a tokenized check system that uses Plaid to allow customers to securely connect their bank accounts for bank payments.