Called a credit union service organisation (CUSO), the new entity – dubbed Nymbus CUSO – will focus on connecting credit unions with fintech offerings.
The core banking provider hopes the CUSO will generate new revenue streams for those credit unions under pressure to innovate and compete with digital disruptors.
John Janclaes, Partners Federal Credit Union’s former president and CEO, will lead the new venture.
A CUSO is usually owned at least in part by the credit unions it serves. FinTech Futures reached out to Nymbus to understand whether there are any minority stakeholders in Nymbus CUSO.