Bank Marketing Strategy
BankBound and Narmi have announced a strategic partnership to accelerate digital growth for financial institutions. By combining BankBound’s specialized marketing expertise and Narmi’s best-in-class account opening platforms, the partnership enables financial institutions of all sizes to compete with confidence.
NEWTOWN, Pa., July 29, 2024 — BankBound, a leading digital marketing firm for financial institutions, is proud to announce a strategic partnership with Narmi, a premier provider of digital banking solutions. This collaboration addresses the increasing need for financial institutions to reach their growth goals by accelerating online account opening.
“We’re thrilled to partner with Narmi- their team and platform are the best in the business. Together, we’ve created a path for financial institutions of any size to grow with confidence.” -Brian Reilly, VP of Digital Marketing at BankBound
Meeting Strategic Priorities Amidst Fierce Competition
In response to the heightened competition in the financial sector, increasing deposits has emerged as a top strategic priority for many financial institutions (FIs). BankBound has been at the forefront, supporting numerous FIs launching digital platforms to cater to the growing demand from consumers and businesses for online account opening.
Overcoming Challenges with Digital Platforms
Despite the surge in digital banking adoption, many online account opening platforms fall short in user experience, integration with marketing analytics, and fraud prevention. BankBound’s extensive experience with various digital platforms has revealed these common challenges.
A Success Story: Partnering with a Small Community Bank
BankBound recently partnered with a $140M community bank seeking to attract new deposits beyond its retail footprint. Frustrated with their previous account opening platform, the bank partnered with Narmi, achieving a seamless user experience and top-tier fraud prevention within just 49 days. In less than five months, BankBound’s marketing efforts helped the bank raise over $30M in new deposits, with a marketing BP cost of 0.27%.
Strategic Partnership with Narmi
Building on this success, BankBound is excited to formalize its partnership with Narmi. This collaboration will leverage Narmi’s industry-leading digital banking solutions to further accelerate deposit growth and fraud prevention for financial institutions of all sizes.
A Call to Action for Financial Institutions
BankBound and Narmi are committed to helping financial institutions overcome the challenges of digital account opening and deposit generation. Financial institutions dissatisfied with their current digital account opening results or those yet to embrace digital deposits are encouraged to engage with Narmi to explore their platform, understand the requirements, and set a timeline for implementation.
About BankBound
BankBound is a specialized marketing firm dedicated to helping financial institutions accelerate their marketing performance and achieve strategic growth. With an exclusive focus on digital solutions, BankBound delivers measurable results for FIs all over the country.
About Narmi
Narmi is a leader in digital banking solutions, providing financial institutions with best-in-class platforms that enhance user experience, integrate with marketing analytics, and ensure robust fraud prevention. For more information, visit narmi.com.
