Sagehaven Bancorp, a proposed national banking organization that will be headquartered in Pittsburgh, recently selected Florida-based Nymbus, a banking platform provider, as its technology provider.
Sagehaven filed an application for a national charter in July. If approved, it’ll become Pittsburgh’s first startup, de novo bank in nearly 20 years. It anticipates beginning banking operations in April and will serve small-to-mid market companies and mid-to-high-net-worth consumers.
Nymbus’ cloud-native banking platform provides core processing, account opening, digital banking and managed services to help banks and credit unions launch, operate and grow with speed. Sagehaven will use the technology to operate a Pittsburgh-based branch and give businesses and consumers nationwide the ability to fully manage their banking needs digitally.
“We set out to build a bank that pairs sophistication and resiliency with security, and that meant choosing a technology partner that could help us launch, manage demand, and securely transact banking needs and interests fluidly while enhancing the customer experience,” Brian Tabb, Sagehaven Bancorp president and CEO, said. “Nymbus gives us the speed, flexibility, oversight, and digital framework to efficiently and securely serve businesses and individuals nationally in our tech-centric world.”
Sagehaven will raise capital and secure final approval following the regulatory review period.