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Daily Record JACKSONVILLE
FINANCIAL SERVICES
Miami Beach-based Nymbus Daily Record matches Project End Game JACKSONVILLE
Daily Record Daily Record JACKSONVILLE
The code-named fintech company plans to base 673 jobs in Jacksonville and invest $6.4 million in Downtown office space. BY MIKE MENDENHALL STAFF WRITER
Miami Beach-based Nymbus Inc. matches the city’s description of code-named Project End Game, a financial technology company that City Council recently approved for $1.83 million in incentives as part of a $4.53 million package that includes state money. Project End Game told the city it will bring 673 jobs to Duval County. Nymbus is seeking applications for numerous jobs in Jacksonville. Council approved the incentives legislation Aug. 24. A project summary filed with the bill described End Game as “a fintech company that designs and manages software for financial institutions.” That matches Nymbus, which provides banking software and technology applications for U.S. and global financial institutions with a focus on banks and credit unions. End Game is considering entering the Jacksonville market and partnering “with an existing company that has invested in their development,” the summary said. Nymbus’ Jacksonville investment partner is VyStar Credit Union. On April 27, Jacksonville-based VyStar announced a $20 million investment in the Nymbus Credit Union Service Organization. Nymbus lists VyStar as a lead investor in Nymbus CUSO.
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ABOUT NYMBUS Headquarters: Miami Beach Chairman & CEO: Jeffery Kendall How the company describes itself: “Nymbus enables banks and credit unions of any size to accelerate growth through new routes to market. This includes a full suite of banking technology applications available to modernize and optimize existing channels, as well as the operational resources to get to market quickly with a full-scale digital bank immediately positioned at capturing new niche customer segments.”
Nymbus CUSO was formed in March to connect “credit unions with trusted fintech offerings that enable opportunities for generating new revenue streams while deepening connections and value to members,” according to a news release on the Nymbus website.
End Game told the city it plans to lease existing Downtown office space and is willing to consider moving its headquarters here. VyStar is based Downtown at 76 S. Laura St. and 100 W. Bay St. There are more connections. Two VyStar executives are part of the Nymbus leadership.
Customers: Inspire Federal Credit Union in Bucks County, Pennsylvania; BankMD, a digital bank that targets physicians created by TransPecos Banks in Pecos, Texas; Locality Bank, a digital-first community bank based in Fort Lauderdale that says it is launching soon; Zynlo Bank, a digital bank created by PeoplesBank of Holyoke, Massachusetts. VyStar link: In April, the Jacksonville-based credit union announced a $20 million investment in the Nymbus Credit Union Service Organization. Nymbus lists VyStar as a lead investor in Nymbus CUSO.
Senior Vice President of Digital Experience Joe Colca was named to the Nymbus CUSO board of directors Aug. 24, according to a news release. Joel Swanson, VyStar chief member experience officer, is shown on the Nymbus board on the company’s website. Nymbus is hiring for multiple
Jacksonville-based positions, including a job advertised on the Nymbus website that provides oversight and management of the company’s contact center operations. While negotiating End Game’s SEE NYMBUS, PAGE 2
IEM Power Systems to lease space in NorthPoint IEM Power Systems, an electrical system manufacturer, will lease 186,000 square feet of space in NorthPoint Industrial Park at 3600 Port Jacksonville Parkway. It previously leased at 11902 Central Parkway near the University of North Florida. IEM is a branch of Fremont, California-based Industrial Electric Manufacturing, an independent full-line electrical distribution and power quality equipment manufacturer. IEM has another office in Belgium. “This new lease allows us to consolidate our Jacksonville operations into one location and support growth through the addition of numerous capabilities,” said Tim Ferguson, vice president of operations at IEM.
VOLUME 108, NO. 221 • ONE SECTION