Berkshire Bank taps Narmi for enhanced digital account opening experience

By Pavithra R

Berkshire Bank, a purpose-driven community bank with locations throughout New England, New York and the Mid-Atlantic has announced that the bank is working with Narmi, a leading FinTech company, to deliver a frictionless digital account opening experience with highest security standards to better serve customers. 

Included in the Narmi platform is deep integration with Alloy, an operating system for identity which manages all related fraud, compliance, and risk decisioning. In collaboration with Narmi, Berkshire offers non-document-based verification, integrated with leading data sources to verify applicants, administrator visibility and control to ensure the bank is satisfying compliance guidelines. These measures are expected to enhance the overall customer experience by reducing the time for consumers to open an account while being cost-effective for the bank.

“Narmi has been instrumental in helping us move toward our goal of being a leader in 21st-century community banking. Narmi’s digital-first and innovative account opening experience will drive organic growth in new accounts while delivering a best-in-class customer and staff user experience,” said Sean Gray, Acting President & Chief Executive Officer, Berkshire Bank.

Berkshire’s seamless deposit account opening process is omnichannel and optimized for mobile, desktop and tablet. It is connected to Berkshire’s FIS IBS core, allowing the bank to keep its existing core banking processes in place and focus its efforts and resources on converting customers and growing deposits. Berkshire also worked with Narmi to offer an independent account opening experience for Reevx Labs.

“We’re proud to align with Berkshire Bank to develop and launch an enterprise-grade account opening solution that will accelerate customer and deposit growth in an organic and responsible fashion. Most importantly, our extensive experience with core banking systems and user-centric design allows Berkshire to offer an exceptional, seamless account opening experience to its customers,” said Nikhil Lakhanpal, Co-Founder of Narmi.

Founded in 2016, Narmi provides superior technology, namely mobile and online banking, to regional and community financial institutions (RCFIs).