As financial institutions (“FIs”) race to meet the digital banking demands of their customers, core system integrations are a key part of their digital growth strategy. Naturally, growth-oriented FIs want to deliver the best of fintech to their customers, but leaders also know any third-party applications and services need to integrate seamlessly with their core service provider. Without a strong core integration, FIs expose themselves to the risk of lengthy software implementations, service disruptions, or clunky user experiences - all of which can erode customer trust and confidence.
Core system integrations are critical to the customer experience, which is why Narmi has focused on building custom integrations within our open platform with some of the most prominent core providers. These partnerships allow our customers to easily integrate our digital products and services—and those of our integration partners—directly into their core systems while maintaining greater control over their data and their overall system.
FIS’ Integrated Banking Solution (“IBS”) is one of the core providers supported within Narmi’s open platform. Below are ten ways FIS customers and their customers benefit from Narmi’s integration with the FIS IBS core:
Real-time transaction processing is becoming increasingly important as customers look to manage their transaction activity without delay. Narmi has the ability to send real-time alerts for any events subscribed to via IBS Events, including pending transaction activity. This helps prevent delays in transaction processing, while ensuring customers are instantly notified of any potential fraudulent deposit, withdrawal, or transaction activity on their account.
Narmi integrates with a number of FIS’ FCM APIs, which gives digital banking users the flexibility to view, print or download electronic statements directly within Narmi’s digital platform.
Core system implementations are notoriously complex and can often require significant resources. Narmi’s custom integration with FIS allows us to implement our digital banking products much faster than a normal implementation timeline.
"Narmi is incredibly responsive. I've not used the word vendor once. Narmi is a partner, not a vendor. My success is Narmi's success and Narmi's success is my success. And that's what makes a partnership." - Luther Liang, Director of Product, Grasshopper Bank
For example, using Narmi’s prior integration with FIS IBS for digital account opening as an anchor, Narmi was able to take Grasshopper Bank live on our digital banking platform in a matter of months through a seamless integration with their FIS IBS core.
While FIS IBS is a user-based core banking system, data flowing across APIs within its Code Connect platform is stored at the account level. However, Narmi’s FIS IBS integration allows the self-service data passed through Code Connect to be viewed at the user level, giving backend staff at an FI more visibility and access to customer-specific data.
For FIs that serve businesses with multiple entities using their FIS IBS core, Narmi’s platform allows users to manage all business financials in a single, unified platform experience. Robust business entitlements can be set by admin users to ensure that only relevant accounts are seen for a user's day-to-day responsibilities.
API calls allow third-party integrations to connect to the FIS IBS core. While they are necessary, they can also be a hidden cost center for some . Narmi’s streamlined integration with FIS Code Connect has been found to manage the overall API calls needed to power our system, keeping your costs within budget.
Customer data from the FIS IBS core is visible directly within Narmi’s digital banking platform, allowing FIs to create actionable intelligence that can improve their marketing efforts. For instance, the FI can create marketing campaigns or push notifications promoting custom offers and financial products based on a user’s digital banking activity.
By breaking down data silos between FIS IBS and Narmi, FIs can free up their data and use it to keep up with customer expectations and discover opportunities for digital growth.
To help FIs save time on wires and ACH transactions, Narmi allows them to store previously used payees/account info and create templates for future transactions.
As a full stack technology partner for FedNow, Narmi allows FIS IBS customers to seamlessly integrate real-time payments through FedNow directly into their existing digital banking platform along with their unique branding, style, and UX flow.
FedNow represents a revolutionary change to how FIs can approach payments, offering a low-cost, real-time, always-on transfer process that will eventually be available to most financial institutions as coverage grows. In supporting this significant offering within a robust and diverse payments strategy, Narmi is one of the only digital banking providers to become a certified provider for the FedNow Service, and is able to provide a unified, fully embedded payments experience for both your users and staff.
Narmi’s FIS IBS core integration gives FIs a foundation for adopting a truly open innovation framework. From day one on the Narmi platform, FIs can begin adding, removing, and updating third-party applications on top of their core system in real-time without dealing with vendor backlogs & long implementation timelines.
"Narmi's open platform – including their API and Narmi Application Framework – allows us to innovate twice as fast. We not only benefit from Narmi's product roadmap, but can also deliver functionality unique to our bank on our timeline and budget. This undoubtedly translates directly into better business outcomes." - Kyle Costello, Former Vice President, Emerging Technologies at LendingClub
As financial institutions start to think more broadly about their digital transformation goals, Narmi's open framework and middleware integrations give them the flexibility to optimize their front-end and back-end experience without relying on their core provider. This means less complexity on the back-end and more room for growth.
With Narmi and FIS IBS, financial institutions get a powerful core banking system and seamless access to the digital banking features today’s customers demand.
Want to see Narmi’s partnership with FIS IBS in action? Request a demo to schedule a walkthrough of the Narmi platform and to learn how Narmi can help you grow digitally.
