MIAMI – June 16, 2020 – NYMBUS®, a provider of the world’s most advanced financial services platform, today announced Jim Modak has been appointed President and Chief Financial Officer (CFO). In his new role, Mr. Modak will oversee all aspects of finance, business development and investor relations while helping to develop and execute the Company’s continued growth strategy.
Mr. Modak brings more than 40 years’ experience in high growth businesses to NYMBUS, raising over $1 billion in total equity capital including two public offerings. Previous to NYMBUS, he held the Chief Operating Officer and CFO roles at companies such as DWL, a privately held provider of enterprise software which grew from $5 million in revenue to over $35 million in four years, where he ultimately helped negotiate and lead the sale of the company in 2005 to IBM.
Additionally, Mr. Modak was the CFO at Tradex Technologies where he helped build the business into one of the leaders in developing digital marketplaces. Together with his executive team, the company was ultimately sold to Ariba in 2000 and signified one of largest software M&A transactions at the time totaling nearly $6 billion.
Mr. Modak has led further financial accomplishments for such companies as Datapath and Suniva. He began his career with KPMG where he spent 12 years after graduating from the University of Notre Dame.
“We’re excited to welcome Jim and his proven leadership as NYMBUS enters a next phase of growth,” said Scott Killoh, Founder and Chief Executive Officer of NYMBUS. “His career successes in capital raising, business and corporate development, and strategic initiatives are an ideal fit as our rapid-deploy, digital-first products and services are increasingly being preferred by banks and credits unions over the legacy banking model.”
The executive appointment follows a $12 million new financing round NYMBUS recently completed to support rising market penetration for its SmartEcosystem™ that is in overwhelming demand as more financial institutions are in the critical position to digitize their banking operations and customer-facing channels that consumers depend on now more than ever.
Furthered Mr. Modak, “NYMBUS’ unique approach to digital transformation represents a tremendous opportunity for financial institutions to sustain and thrive in today’s market. I am thrilled to join the team and help capitalize on this foundation for success and growth, both on behalf of the Company and its growing list of banks and credits unions served.”
The NYMBUS SmartEcosystem encompasses a full suite of advanced, digital-first products and services to help transform all aspects of financial institutions. From SmartPlatform™, our technology platform that unifies all required banking functions into a single Cloud-based solution, to SmartLaunch™, our full-service and outsourced standalone digital bank alternative, NYMBUS enables on-demand transformation to rapidly stand up customized and competitive digital banking experiences.