How Nymbus Uses Tight to Open Up the SMB Customer Segment for Banks and Credit Unions

Providing Banks and Credits Unions with Automated Invoicing Processes for SMB Customers

SMBs represent a huge opportunity for Nymbus’s clients—and Nymbus by extension. According to the U.S. Small Business Administration Office of Advocacy, there are over 33 million small businesses in the country, representing 39.4% percent of private sector payroll.

One of the biggest challenges that SMBs face is cash flow. When they can bill and accept payments online—as opposed to sending out paper invoices and waiting on checks—it speeds up the cash flow cycle and alleviates the pressure on their already strapped resources. In turn, when banks and credit unions offer invoicing as a part of their specialized services geared towards SMBs, they are much more likely to capture this customer segment.

To help banks and credit unions serve this need for their SMB customers, Nymbus required a solution that would provide their clients with the ability to:

• Automate invoicing processes for small business owners
• Offer flexibility with payment processors
• Create a holistic SMB customer experience from end-to-end

And Nymbus wanted it fast.

Quickly Implement an Invoice and Expense Tracking Solution Using Tight's SDK

Nymbus did not have years to develop an invoicing infrastructure in-house. After vetting several different options, Brian and Drew chose Tight for its ease of implementation. They knew they could use Tight's software development kit (SDK) to hit the ground running and increase their speed to market.

“Implementation was a very simple, painless process. It only took three to four weeks, and it was a very small lift. They’ve got great documentation, which is really nice from a developer standpoint. And any time we have a question for them, we always get a response very quickly,” said Brian.

Nymbus also implemented Tight's expense tracking feature, so their clients can offer real-time financial insights that help SMBs forecast future cash flow and plan financial goals.

“What Tight does is allow our clients to become full-service providers to their SMB customers and capture additional revenue. Their customers need, and are going to buy, an invoicing solution no matter what. So why not get it from the same bank or credit union where you have all your accounts?” he said.

With Tight in place, Nymbus’s clients can offer their customers an invoicing solution that only takes a few clicks to set up. It is white-labeled to each Nymbus customer, so only that bank or credit union’s brand appears as part of the front-end user experience. All this provides value-add to Nymbus’s services and expands their opportunities to upsell.

Full Integration with the Tight API

By the end of Q1 2024, Nymbus plans to fully integrate with the Tight API, so they can continue to build out the functionality of their Launch SMB solution for banks and credit unions.

“It will look completely seamless to the end users, and we will be adding additional features like tax estimation and deduction tracking,” said Brian.

With Tight's Accounting API fully embedded in their technology stack, Drew and Brian believe that Nymbus will be able to drive more client adoption and increase client retention. They are excited to continue their relationship with the Tight team.

“We have alignment from the whole Tight team. They will always get on the phone with new partners to talk through the logistics and details of the deal, so our partners have all the capabilities they need. Even if Tight doesn’t currently integrate with their requests, their team makes it happen,” said Drew.

“I’m not exaggerating when I say that Tight is by far my favorite, easiest vendor,” said Brian.