RALEIGH, N.C. – March 18, 2021 – Red Hat, Inc., the world’s leading provider of open source solutions, today announced that NYMBUS® has established Red Hat OpenShift as the cloud platform for its digital banking ecosystem, enabling the company to help its customers, including community banks and credit unions, accelerate their digital transformation initiatives using innovative and flexible Software-as-a-Service (SaaS) solutions.

As consumer preferences and behaviors have shifted in the wake of the COVID-19 pandemic, digital is becoming the primary way for customers to engage with their banks. This trend, combined with growing competitive pressures from more nimble start-ups, is accelerating the need for credit unions and community banks to adopt a complete, end-to-end, digital banking platform.

Nymbus addresses this need by providing a turn-key digital bank-in-a-box offering that includes all of the technological and operational resources required to easily launch and operate a digital bank or brand in as little as 90 days. Built on Red Hat OpenShift, the industry’s leading enterprise Kubernetes platform, Nymbus’ solution can now be deployed in any cloud that the customer wishes to use, enabling the end-to-end launch of an entire bank running on OpenShift.

The open hybrid cloud is designed to avoid technology lock-in, which creates dependency on one particular vendor, stifles innovation and results in less flexibility. Nymbus chose OpenShift to power all of its digital banking services for the security features, reliability and efficiency of the application and data environment it provides. With OpenShift, Nymbus extends its existing multi-cloud strategy for banking across any combination of public or private clouds. This allows customers to leverage any preferred cloud without being cloud-dependent.

Supporting Quotes

Richard Harmon, vice president and global head of financial services, Red Hat
“Cloud technology is reshaping the way banking services are created and delivered in our digital world. It is providing service providers the ability to quickly adapt to market changes and make it easier for community banks and credit unions to consume new software. We are excited to work with Nymbus to bring the innovation of open source and cloud technology to the market. Nymbus truly embraces the open source way of working, and we are looking forward to contributing to their success.”

Jeffery Kendall, Chairman & CEO, Nymbus
“The COVID-19 pandemic has changed the way we bank, possibly forever. It provided the push for local banks and credit unions to establish more secure, flexible, end-to-end digital banking solutions. With Red Hat, our partner financial institutions are now granted greater freedom of choice with their cloud strategy and the multi-cloud uptime that is critical for the banking industry.”

Additional Resources

• Learn more about Red Hat OpenShift
• Learn more about Red Hat financial services offerings
• Read more Red Hat customer success stories

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About Red Hat, Inc.

Red Hat is the world’s leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future.

Forward-Looking Statements

Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company or its parent International Business Machines Corporation (NYSE:IBM) may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

Media Contact
Gaby Berkman
Red Hat, Inc.
gberkman@redhat.com
802-318-5682

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