Narmi, a leading digital banking platform provider for banks and credit unions, today released usage data and initial performance results for its AI DecisionAssist account opening solution, showing that community financial institutions are adopting it faster than any product in Narmi's history, while cutting the time to decide on their slowest account opening applications by 83%.
Account opening reviews remain a bottleneck for many community financial institutions. Applications that require additional review often wait in a queue while staff gather information across multiple systems, increasing the risk that applicants abandon the process.
Narmi’s AI DecisionAssist, which became available late August, is an agentic AI workflow that performs an initial review of each application, consolidates identity, risk and compliance information, and recommends a decision for staff to approve or override.
Narmi measured review times at six financial institutions in the first six weeks of going live with AI DecisionAssist, comparing applications reviewed with and without the solution. Across that same sample and window, Narmi found:
- Slowest decisions: At all six institutions, 90% of decisions now finish within three days. Before AI DecisionAssist, reaching that same mark took as long as a month.
- Typical decisions: The median time to a decision was nearly cut in half, from about 8.5 hours to 4.4 hours.
- Staff time: Hands-on review time dropped to under 2 minutes, from a previous period of 8 to 12 minutes per application.
Sixteen financial institutions have gone live in the two months since launch: the fastest adoption of any Narmi product to date. Review volume across live institutions grew 51% in a single week as teams incorporated AI DecisionAssist into daily operations.
"Community banks and credit unions compete on relationships, and that starts with how quickly they can say yes to a new account holder," said Nikhil Lakhanpal, Co-Founder of Narmi. "We built AI DecisionAssist to take on the slowest, most time-consuming reviews first. It handles the research, staff make the decision, and applicants get an answer in hours instead of days."
For participating institutions, the results mean faster answers for applicants and less manual work for review teams, with staff continuing to make every final decision.
AI DecisionAssist is available to Narmi account opening customers. For more information, visit narmi.com/narmi-ai.
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 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 Best Online Bank and Nerdwallet's Best Bank for Online Experience. For more information, please visit narmi.com.
