Emphasizing Account Opening, Cybersecurity & Consumer Experience

Tech updates aimed at credit unions and banks include an account opening product and two alliances, one to shore up cybersecurity and another that could help financial institutions improve accountholder experiences.

New York City-based fintech firm Narmi, which caters to regional and community financial institutions, announced it new digital account opening product. The platform provides credit unions and banks with the ability to onboard new accounts, verify identities, instantly fund the accounts and present digital banking enrollment.

Narmi’s digital account opening platform includes data collection from the new account holder and identity verification of the new account holder through 30 plus verification data sources, all delivered via a single API to the financial institution. Credit unions and banks can adjust identity verification rules to meet the specific needs of their fraud and compliance departments. The platform also provides funding of the accounts via debit cards or ACH transfer and offers a one-step enrollment with mobile and online banking platforms.

Chris Griffin, Co-Founder of Narmi, commented, “Deposit growth is the most common focus we hear from financial institution CEOs and our new digital account opening platform is a great example of Narmi solving real problems for our customers. Financial institutions can now open accounts in minutes, all while maintaining a robust compliance and fraud monitoring environment.”

Brookfield, Wis.-based fintech provider Fiserv and BlueVoyant, a cybersecurity company, announced a strategic alliance to deliver a comprehensive managed security platform that specifically addresses the unique needs of financial institutions – from threat detection, response and remediation to regulatory compliance and reporting.

Fiserv and BlueVoyant provide detection, real-time response and automated remediation of suspicious activity targeting internal systems using an integrated combination of network and endpoint monitoring, extensive threat intelligence and behavioral analytics.

These are among a range of intelligent security capabilities offered by Fiserv to enable financial institutions to understand emerging threats and establish multilayered defenses to minimize risk, prevent fraud, help ensure compliance, and enable consumers and businesses to transact with confidence.

This new solution complements other leading-edge cybersecurity solutions offered by Fiserv, including Sentry Cyber Security and SecureNow, designed to mitigate risks within the financial institution as well as risks associated with customer-facing services.

Fiserv and BlueVoyant provides a cybersecurity platform that orchestrates an organization’s internal cybersecurity modules and provides a clear and customizable portal with actionable, plain-English alerts, along with skilled cybersecurity experts who work to remediate threats to the institution. Financial institutions receive consolidated reports to greatly simplify regulatory compliance, and professional threat remediation that allows IT staff to focus attention on building business value.

“Adversaries are targeting banks and credit unions of all sizes with sophisticated attacks,” said Byron Vielehr, chief administrative officer, Fiserv. “By working with partners like Fiserv and BlueVoyant, financial institutions can access capabilities and insights to make their cybersecurity strategies exponentially more effective than if they went it alone.”

Tulsa, Okla.-based ENACOMM, a fintech company that empowers credit unions, banks, and credit card companies with solutions for improving the customer experience, fighting financial fraud, and increasing operational efficiency announced C&A Associates., a provider of financial processing and asset management technology, is now a distribution and installation partner.

C&A’s credit union and bank customers can take advantage of ENACOMM’s Virtual Personal Assistant which leverages AI-based conversational banking; ENACOMM Fraud Control Module for combatting omni-channel attacks; and the entire ENACOMM Financial Suite, including its Intelligent IVR, a hosted, dynamic interactive voice response system for personalized customer interactions.

“C&A is a household name in the financial services industry,” said ENACOMM CEO Michael Boukadakis. “For nearly three decades, its nationwide team of experts has been trusted by banks and credit unions to sift through endless technology products that are available and pinpoint the best solutions on the market.”