New York, NY (PRWEB) October 07, 2016
With the five largest banks now controlling nearly half of all deposits in the United States, regional and community financial institutions (RCFIs) face renewed pressure to try and reverse this trend. While most RCFI executives understand the importance of their digital presence, few have the resources or the technical know-how to compete with the nation’s largest institutions.
Narmi, a financial technology firm, empowers RCFIs to offer innovative online and mobile banking experiences in order to help attract, engage, and retain customers. Narmi accomplishes this through a best-in-class online and mobile banking platform that is easily customizable to each institution’s branding strategy. Credit unions and community banks are generally associated with superior customer service and community involvement, but few have advanced technology. Narmi believes this technology aspect is critical to RCFIs regaining market share and positioning themselves to thrive in a future where consumers’ demands and preferences are constantly shifting.
The rapid pace of development outside the industry has left many RCFIs behind. Branchless challenger banks and an array of fintech startups challenge the status quo by going directly after the consumer. Narmi works directly with financial institutions to mitigate these threats through the latest technology.
Narmi’s services are especially valuable to banks and credit unions vying to attract young customers. Founders Chris Griffin and Nikhil Lakhanpal have extensive experience on this topic having both served as executives of the Georgetown University Alumni & Student Federal Credit Union. Nikhil led the organization as CEO, while Chris served as CTO.
“Our experience as credit union executives at a university affiliated credit union gives us unique insights into a very important demographic for the industry. We hope to use this perspective to create tremendous value for both our clients and their end-users,” co-founder Chris Griffin stated.
About Narmi Inc.
Nikhil Lakhanpal and Chris Griffin founded Narmi to build innovative online banking and mobile banking applications predominantly for the 10,000+ regional and community financial institutions in the United States. Both founders have served as executives in the credit union industry and also have work experience at the largest banks in the world.