Narmi, a leading provider of digital banking solutions for financial institutions, has announced its partnership with Monit, an innovative platform for business intelligence and analysis. The partnership is central to both companies’ ambitions to better support business banking users by offering Narmi financial institution customers a holistic financial outlook across all accounts and banking relationships.
“As a team of former bankers, Monit is passionate about bringing much-needed financial tools to business owners while enabling their primary FI to serve those business customers more effectively and profitably,” noted Steve Dow, Co-Founder and CEO of Monit. “Our partnership with Narmi makes our platform turnkey for any bank or credit union on Narmi. Together, we’re making it easier than ever for FIs to equip their customers and bankers for success.”
Businesses can now access Monit’s award-winning cash flow analysis, forecasting, and customer intelligence capabilities directly within Narmi’s Business Digital Banking platform, with the integration managed through the Narmi Application Framework. The integration will allow seamless access from Narmi’s platform – providing continuity with each individual financial institution's branding and experience, without the need to exit the user journey.
Narmi and Monit’s offering will extend a business’s view into their clients’ financial and customer data, break the data down into actionable insights, and integrate these personalized findings through Monit’s Turnkey SMB Insights app. The partnership is a central tenet of Narmi’s dedication to serving the SMB clients that are so important to community financial institutions.
“We strive to provide a world-class business banking experience,” said Kevin Quinn, First Internet Bank Senior Vice President. “By partnering with Narmi, our advanced online banking platform delivers a user-friendly experience with seamlessly integrated tools, like Monit, for smarter financial insights.”
“Small-and-medium businesses are the backbone of the economy, and at Narmi we’re constantly trying to innovate in anticipation of their needs,” said Angela Gentry Yue, SVP of Operations at Narmi. “With this in mind, Monit is an ideal technology platform for Narmi to partner with: the more business owners can derive next-level, actionable intelligence from their banking platform, the more complete Narmi’s open ecosystem is to each and every customer.”
About Narmi
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.
About Monit
Monit is an award-winning financial intelligence platform for leading financial institutions who want to provide business customers with embedded ‘digital CFO’ tools and enhanced analytics/targeting capabilities for bankers and marketing teams. The two-sided platform includes highly desirable SMB features (cashflow forecasting, industry benchmarking, business valuation, etc.) as well as data-driven relationship deepening tools and insights for bankers. As an example, banks have seen users of Monit’s tools significantly increase their balances with the bank (one bank saw a 60% increase in deposits). Monit’s mission is to help banks and credit unions win in the increasingly competitive SMB market. Monit is headquartered in Boston, MA with a fully US-based team. The company is privately funded with investment from TTV Capital, JAM FINTOP, BankTech Ventures and bank partners. Learn more at www.monitapp.io and engage with Monit on LinkedIn or Twitter.