Cloud-based core banking provider Nymbus has selected Red Hat cloud platform for its digital banking ecosystem.

The company established Red Hat OpenShift as the cloud platform to support digital transformation initiatives of community banks and credit unions.

It will enable the deployment of Nymbus’ solution in any cloud system and expedite the launch of a digital banking system running on OpenShift.

The move comes as financial institutions are increasingly adopting a digital strategy in the wake of Covid-19 pandemic.

According to Red Hat, Nymbus selected OpenShift for the security features, reliability, data environment and efficiency of the application.

Nymbus chairman and CEO Jeffery Kendall said: “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.”

Red Hat vice-president and global head of financial services Richard Harmon said: “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.”

Last month, Nymbus raised $53m in its Series C funding round.