NEW YORK, Jan. 17, 2024 (GLOBE NEWSWIRE) — Array, a leading financial innovation platform, and Narmi, a leading provider of digital banking solutions for financial institutions, announced a partnership to bring Array’s financial progress tools to customers and members and help them better monitor their credit and benefit from anti-fraud identity monitoring. In addition, Narmi will provide financial institutions access to Array’s actionable credit-based offers solution.
“Narmi provides regional financial institutions a modern API-driven platform that layers on top of existing banking infrastructure including account opening, consumer and business digital banking,” said Mario DeLecce, Head of Financial Institutions at Array. “We’re excited to extend the Array portfolio to Narmi’s client base so they can provide more options for a differentiated digital experience on par with the largest banks and non-financial companies offering embedded finance products.”
Array’s My Credit Manager enables users to view, understand and manage their credit information. They can receive credit score change alerts, interact with a score simulator, and view credit score factors and debt analysis components. ID Protect includes identity monitoring, insurance, and restoration services1 that help keep users safe from fraud. It features dark web monitoring, alerts, and identity theft restoration services. In addition, financial institutions can leverage Offers Engine to market their services to account holders with actionable offers based on the user’s individual credit-data attributes and matched to appropriate credit products, resulting in greater relevance and likelihood of approval.
“Regional financial institutions typically do not have the staff and resources to build digital products and services in house, so they need technology partners that can build quickly on and extend the infrastructure they have,” said Nikhil Lakhanpal, Co-Founder and CEO of Narmi. “Narmi and Array are digital-first partners that can help regional financial institutions acquire and retain customers, scale operations, grow deposits, and provide a rich digital experience to younger customer segment that expects them.”
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 Array
Array fuels financial progress for many of the world’s leading fintechs, financial institutions, and digital brands with a suite of private-label fintech solutions that can be easily embedded. Array drives engagement and revenue for our clients by helping them stand out in a crowded market and forge deeper relationships with their customers. More than a suite of products, we’re building a platform to help consumers own their financial future.
Array was founded in 2020 by Martin Toha and Phillip Zedalis. Key investors include Battery Ventures, General Catalyst, and Nyca Partners. To learn more visit array.com.
1The Identity Theft Insurance is underwritten and administered by AIG. This description is a summary and is solely intended for informational purposes and may not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions. Review the Summary of Benefits.
Media Contacts
Kurt Foeller, Array
press@array.com
Molly Riesenberger, Narmi
molly@narmi.com
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