The Real Cost of Disconnected Banking Technology

Introducing our answer to the future of digital banking: Narmi One.
Dec 16, 2024
Nikhil Lakhanpal
Co-Founder, Narmi
Chris Griffin
Co-Founder, Narmi

Today, community banks and credit unions spend up to 70% of their technology budgets and countless hours just trying to get disparate pieces of their front-end banking solutions to work together. Not only is this a huge drain on resources, but it creates a disjointed and frustrating experience for both customers and employees that simply can't compete in an era dominated by well-integrated mega banks and fintechs. At Narmi, we know there is a better way.

Introducing Narmi One: The natural evolution of digital banking

Over the years, as we've worked closely with growth-oriented financial institutions, one theme has emerged loud and clear: the power of unification. While our existing solutions like Narmi Grow, Narmi Banking, and others have delivered transformative results individually, we saw an opportunity to help FIs unlock even greater value by bringing them together seamlessly in one cohesive platform.

Enter Narmi One - the culmination of years of listening, learning, and innovating alongside our community bank and credit union partners. Rather than a simple bundle of existing products, Narmi One represents a holistic approach to digital banking that's far more than the sum of its parts.

One of the best parts about Narmi One is that it is completely modular. A community financial institution can begin their Narmi One journey exactly where they are in their own digital buying journey. Choose the module that fits your current needs. In fact, 70% of financial institutions begin working with Narmi in this way. However, showing them the promise of a tightly integrated solution - and the results that come with this - will always be a part of our partnership. 

Narmi One brings together six key components in a single unified platform:

  1. Narmi Grow: Frictionless account opening to maximize conversions
  2. Narmi Guard: Comprehensive, AI-powered fraud prevention
  3. Narmi Banking: Engaging digital experiences that drive loyalty
  4. Narmi Now: Real-time payments at a fraction of competitors' costs
  5. Narmi Open: Effortless integrations and custom feature development
  6. Narmi Command: Powerful back-office tools for visibility and control

The impact? Just ask Evergreen Bank. Their partnership with Narmi has allowed Evergreen to offer modern technology that supports digital account opening and banking to acquire deposits on a national scale. They’ve seen 94% increase in total deposits over the last 12 months and a 112% increase in approved applications. This is the power of a unified platform. 

Empowering FIs to grow, lead, and thrive

With Narmi One, financial institutions of all sizes can finally break free from the constraints of cobbled-together technology. Instead of wasting time and money on a patchwork of poorly integrated solutions - the dreaded "Frankenstein" IT environment - FIs can focus on what matters most: serving their customers and communities.

Narmi One empowers FIs to:

  • Unlock unprecedented growth: Make it effortless for customers to join your FI and expand their relationship over time. With seamless digital onboarding, intuitive user journeys, and personalized cross-selling powered by AI, you can maximize lifetime value for both consumers and businesses.
  • Become your customers' primary FI: Drive primacy by becoming the central hub for your customers' financial lives. With engaging experiences that rival the best of fintech, plus the trust and human connection only FIs can provide, you'll give customers a compelling reason to choose you first.
  • Boost efficiency at every level: Streamline operations and empower your team with best-in-class automation and a unified back-office experience. From account opening to fraud monitoring to real-time analytics, Narmi One gives your staff the tools they need to work smarter, not harder.

Narmi One isn't just another new product. It's a reflection of our fundamental belief that community FIs have the power to not only keep pace with digital transformation, but actually lead the way - if they have the right foundation.

We're thrilled to partner with innovative banks and credit unions across the country to make this vision a reality. Together, we can redefine what's possible in digital banking and empower FIs to thrive in a rapidly changing world.

If you're ready to unlock the full potential of your institution, we'd love to show you what Narmi One can do. Let's have a conversation about how we can help you grow, lead, and succeed in the digital age.

Nikhil Lakhanpal & Chris Griffin

Co-Founders, Narmi

Narmi Inc.
3 East 28th St. Floor 12
New York, NY 10016

The Real Cost of Disconnected Banking Technology