Narmi provides a digital banking platform that enables financial institutions to open accounts in under 2.5 minutes while integrating seamlessly with existing core banking systems. This solution enhances customer engagement and operational efficiency, resulting in significant increases in account applications and reductions in support volume.
Funding
$55.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FSFounders
Product
Problem
Financial institutions face challenges in providing modern digital banking experiences while integrating with legacy core banking systems. Traditional account opening processes are often slow and cumbersome, leading to customer frustration and lost business.
Solution
Narmi offers a unified digital banking platform that enables financial institutions to streamline account opening and enhance customer engagement. The platform integrates with existing core banking systems, allowing institutions to offer a seamless digital experience across all channels. By automating identity decisioning and providing intuitive interfaces, Narmi helps financial institutions reduce fraud, increase account growth, and decrease support volume. The platform includes modules for consumer account opening, business account opening, consumer digital banking, and business banking, all managed through a centralized admin platform with embedded analytics.
Target Audience
Narmi primarily serves financial institutions, including banks and credit unions, seeking to modernize their digital banking offerings and improve customer acquisition and retention.
Features
- Automated identity decisioning to eliminate fraud during account opening
- FinTech marketplace for integrating third-party services
- Embedded business intelligence for data-driven decision-making
- API-driven ecosystem for custom integrations and product roadmaps
- Consumer Account Opening module for streamlined digital onboarding
- Business Account Opening module to unlock business deposit growth
- Consumer and Business Digital Banking modules for enhanced user experience
- Centralized Admin Platform for managing customer interactions and back-office tools