May 17, 2021 - Boston, MA — Digital Onboarding, Inc. today announced that it has entered into a partnership agreement with Narmi, a leading provider of frictionless account opening and digital banking products. Together, the companies will help financial institutions grow profitability by making it easier for new account openers to adopt digital banking and other account-related services.
According to the Digital Banking Report, first-year attrition rates are as high as 40 percent due to suboptimal onboarding processes. The negative impact of a lost customer is at least $400. Financial institutions need to make it easier for new account openers to enroll in account-related services in the first 60 days.
With Narmi’s highly adaptable technology and fully documented APIs, Digital Onboarding will be able to seamlessly integrate with Narmi’s digital account opening and digital banking platforms to deliver a tighter experience to new account holders at financial institutions.
“In partnership with Digital Onboarding, we can further enhance the overall value of the Narmi Platform by adding more functionality to help drive account engagement and encourage more active account usage after the initial opening process,” said Kevin Kielbasa, Business Development, Narmi. “Both companies were founded to help financial institutions succeed by delivering simple and beautiful user experiences that delight customers. We are thrilled to partner with a team that shares our mission.”
“The next step after a great account opening experience is often overlooked,” said Ted Brown, Co-founder and CEO, Digital Onboarding, Inc. “With Narmi, we are addressing this critical gap and streamlining the path to primacy. I am excited to partner with an award-winning, industry leader to help financial institutions turn new account openers into engaged and profitable relationships.”
Narmi is a financial technology company that builds enterprise solutions across consumer digital banking, business banking and digital account opening. Financial institutions work with Narmi to be leading digital organizations, go to market faster with industry-leading functionality and better compete with megabanks, challenger banks and neobanks. With a particular focus on openness, Narmi’s open framework allows financial institutions to build their own extensions and features onto the base platform to cater to their needs. Today, Narmi powers financial institutions with billions of dollars of assets and helps move millions of dollars between financial institutions on a daily basis. To learn more about Narmi, visit https://www.narmi.com/.
About Digital Onboarding Inc.
Digital Onboarding Inc. is a SaaS technology company focused on helping banking and credit union customers activate their financial services products. Digital Onboarding provides a fully automated new account activation platform that is more efficient and effective than traditional phone calls, emails, direct mail, and print brochures, driving profit by increasing new customer and member activation rates. For additional information, visit https://www.digitalonboarding.com/.
For Digital Onboarding media inquiries, contact Laurie McLachlan at email@example.com or (617) 921-2916.