
Narmi, a digital banking technology developer, and Pinwheel, a technology provider enabling banks with effective and easy to deploy solutions, have expanded on the success of their partnership with the usage of Pinwheel’s full activation and engagement solution suite, and even simpler rapid deployment options.
After a series of client requests, Narmi has fully adopted Pinwheel’s deposit switch functionality to meet the growing demand from smaller financial institutions looking to mirror – and in some cases, surpass – the offerings of their larger competitors.
“Deposit switch has always been on our radar – it’s something that bigger banks offer their customers, and it’s about time that we bring that kind of functionality to community banks and credit unions,” said Nikhil Lakhanpal, co-founder of Narmi.
Narmi’s launch of Pinwheel’s Switch Kit represents a paradigm shift for community financial institutions, from implementing mere “table stakes” functionality to cutting-edge features that lead the market and enable significant market share growth.
By making primacy more accessible for smaller financial institutions, Pinwheel and Narmi continue to strengthen the middle market of the banking industry and elevate the financial prospects for communities around the country.
“We will never stop obsessing about how to make onboarding more delightful for consumers, making it easier for banks to win and keep profitable customer relationships,” said Kurtis Lin, CEO and co-founder of Pinwheel.
For more details, read the full conversation between Narmi co-founder Nikhil Lakhanpal and Pinwheel co-founder and CEO Kurtis Lin on the evolution of the partnership here.
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 see 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 Best Online Bank and Nerdwallet's Best Bank for Online Experience. For more information, please visit narmi.com.
About Pinwheel
Pinwheel helps banks, CUs and fintechs win primacy with embedded 1-click deposit switching and bill management tools. Through an exclusive data network of payroll providers, Pinwheel enables access to income and employment data across 1,800 platforms (covering up to 100% of US workers paid via direct deposit) and over 1.5 million employers. With this connectivity, Pinwheel supports leading fintechs and financial institutions (such as MoneyLion, Acorns, Key Bank, Cash App and many more) power instant direct deposit switching, earned wage access, income & employment verification, and bill management products. Pinwheel has raised $77M from top-tier investors such as Notable, Coatue, First Round Capital, Upfront and more.