Neural Payments and Narmi Partner To Offer Embedded P2P Functionality
CINCINNATI (January 23, 2023) — Neural Payments, a peer-to-peer (P2P) payments pioneer, has announced its official integration with Narmi, a leading provider of digital banking solutions. The partnership will enable Narmi clients to offer a fully integrated API P2P solution from their digital banking platforms. With Neural Payments P2P fully embedded within the Narmi digital banking experience, financial institutions can attract new consumers looking for a more convenient omnichannel approach to their P2P experience via a seamless out-of-network experience.
“Our partnership with Neural Payments gives customers of our financial institutions more options for moving their money in Narmi’s digital banking platform,” said Edwin Akrong, VP of Product at Narmi. “We’re committed to constantly evolving our offerings, ensuring financial institutions have access to the most cutting-edge payment solutions in the market.”
Financial institutions on Narmi can now facilitate effortless fund transfers for users, both in and out of the Neural Payments ecosystem via existing integrations with third-party wallets and accounts tied to debit cards. This is in contrast to the traditional P2P experience, which restricts users to transacting within the same platform. With the Neural Payments P2P solution, financial institutions on Narmi will be positioned to capture deposits and reach new user markets while reducing transaction fees and the riskof fraud.
“Neural Payments is reshaping the P2P payment landscape by offering an open-loop system that transcends traditional banking boundaries,” said Melissa Kopp, Director of Client Experience. “Our partnership with Narmi will give community and regional financial institutions access to simpler and faster P2P payments, making it easier and more secure for financial institutions to capture new deposits and broaden their consumer base.”
About Neural Payments
Neural Payments was created to assist Financial Institutions in adopting change at or ahead of market pace. Leveraging experience working with banks, credit unions and payment processors globally, Neural Payments will connect institutions to the latest technologies and trends. Learn more at neuralpayments.com.
Narmi’s digital platform empowers financial institutions to unlock the very latest capabilities in digital banking and account opening, tap new growth and deposit opportunities, and offer their users a safer, more user-friendly P2P platform directly inside the digital banking experience to achieve true digital transformation with world-class enterprise solutions. With a particular focus on openness, Narmi’s open framework allows financial institutions to build their own extensions and features onto the base platform to cater to their needs. Today, Narmi powers financial institutions with billions of dollars of assets and helps move millions of dollars between financial institutions on a daily basis.