MOXY bank, one of the first new banks to launch in Washington, D.C. in two decades, has tapped technology provider NYMBUS.

The bank will deploy the vendor’s next-generation banking software suite.

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These include the NYMBUS SmartCore, a cloud-based core banking system.

The bank also chose NYMBUS SmartDigital for internet and mobile banking.

In order to support debit card processing and combat fraud, the bank opted for NYMBUS SmartPayments.

The vendor said that its product suite will enable MOXY to consolidate all banking capabilities into a single solution and simplify back-end processes.

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MOXY bank president and CEO Casey Mauldin said: “Finding a long-term partner with the right technology, culture and vision was one of our most important decisions.

“We ultimately turned to NYMBUS for its open API architecture and fully customisable software solutions, enabling us to effortlessly adapt and integrate the latest digital products and services that will offer a rich and unique experience to our customers.”

The bank will offer subscription-based services, which are akin to music or video services.

The subscription model is said to be a low-cost one and aimed at tending to the unbanked and underbanked communities.

Among the services to be offered by the bank are digital OnDemand and savings accounts, small business accounts, lending, online account opening, mobile deposit, bill pay, P2P payments, and video banking.