Apr 20, 2024 -
Ledyard Bank and Narmi, a leading provider of digital banking experiences, are pleased to announce the successful launch of Narmi’s Consumer and Business Digital Account Opening solutions at Ledyard Bank. This partnership enables Ledyard to introduce both Consumer and Business Account Opening services, marking the first time that Ledyard is making Business Account Opening is available online. This expansion underscores Ledyard's dedication to providing a digital-first banking experience to New Hampshire and the broader Upper Velley region.
Ledyard Bank is an $800M bank headquartered in Hanover, NH. Known for their dedication to being true financial partners to the businesses and clients they serve, they recognized the need to prioritize a modern digital front door that would allow them to transform and streamline the account opening process. In partnership with Narmi’s Implementation Team, Ledyard Bank was able to launch both the Consumer Account Opening and Business Account Opening products in 76 days on a parallel path. Narmi’s Consumer Account Opening experience enables customers to securely open new accounts in under three minutes from anywhere. Narmi’s Business Account Opening solution also eliminates the need for in-person visits, enabling businesses to open accounts online.
"We are thrilled to announce our partnership with Narmi, a move that will revolutionize the online account opening experience for both our consumer and business clients at Ledyard. Together, we are committed to delivering excellence and convenience, empowering our customers to access financial services with ease and efficiency,” said Sue Fernald, EVP, and Chief Risk Officer at Ledyard Bank.
The Narmi Account Opening platform boasts a range of features that redefine the account opening process for both consumer and business solutions:
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Three custom application flows for consumer account opening, designed to optimize the user experience for new applicants, existing customers, and returning users.
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Five adaptive flows for business account opening, enabling each business type to have a distinct digital experience, reducing the number of follow-up actions by 75%.
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A direct integration with the COCC core, allowing Ledyard to pre-fill the COCC online banking enrollment experience.
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Industry leading Know Your Customer (KYC) and Know Your Business (KYB) decisioning in partnership with Alloy that automates up to 100% of application decisions for consumer applications, and up to 70% of decisions for business applications.
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A unified platform to view all applications, and real-time updates to applicant-facing products.
"Narmi is proud to partner with Ledyard Bank as they advance their digital journey," said Nikhil Lakhanpal, Co-Founder of Narmi. "We are excited to see Ledyard capture more market share and witness the growth of their bank through this innovative digital channel."
About Narmi
New York City-based Narmi's digital platform empowers financial institutions to unlock the very latest capabilities in digital banking and account opening, enabling them to move faster, tap new growth opportunities, and achieve true digital transformation. The Narmi platform was built with the customer experience in mind, empowering financial institutions with an experience that is always effortless, current, and dependable. As a result, Narmi's customers are seeing as much as 3x account growth in less than 30 days and 4x deposit growth in as little as 90 days. Additionally, Narmi's financial institution clients are winning awards like Bankrate's 2020 Best Online Bank and Nerdwallet's Best Bank of 2021 for Online Experience. For more information, please visit www.narmi.com.