First Bank has launched a new Digital Business and Consumer Account Opening experience powered by Narmi, a leading provider of digital banking solutions.

The new experience will allow prospects and customers to digitally open accounts with First Bank in just minutes without visiting a branch, increasing convenience and driving a new digital channel of deposit growth.

“How customers want to interact with their financial partner is rapidly evolving,” said Patrick Ryan, President and CEO of First Bank. “Providing seamless account opening is imperative for community banks seeking to provide businesses, entrepreneurs, and consumers with a streamlined digital experience. First Bank is committed to providing customers with digital banking services that complement the bank’s traditional, relationship-driven model. That’s a winning formula for us as we grow our core business.”

Adding an Online Account Opening component is another critical milestone in the Bank’s larger digital strategy. In 2023, First Bank launched an online business loan application portal, which serves to digitize and expedite loan funding up to $500,000 for small businesses throughout the region. First Bank is committed to providing premium banking services to its customers, and this innovative technology will give existing and prospective clients convenient and cutting-edge alternatives to opening bank accounts.

Online Account Opening also helps First Bank establish and expand relationships in and out of its immediate geographic footprint. The new digital account opening experience offers adaptive workflows for each account type and clearly guides applicants through the account opening process for a truly best-in-class experience.

Narmi’s platform includes fully integrated and automated Know-Your-Customer (KYC) and Know-Your-Business (KYB) decisioning, which means First Bank can meet all compliance regulations in minutes, track applicants, and leverage instant document collection.

“We’re proud to help transform how businesses and consumers interact with First Bank,” said Nikhil Lakhanpal, Co-Founder of Narmi. “Narmi is excited to be part of First Bank’s larger digital banking strategy.”

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 triple account growth in less than 30 days and quadruple deposit growth in as little as 90 days. Additionally, Narmi’s financial institution clients are winning awards like Bankrate’s 2020 Best Online Bank and NerdWallet’s Best Bank of 2021 for Online Experience.

Learn more at First Bank. First Bank is a New Jersey state-chartered bank with 26 full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington (two), Hamilton, Lawrence, Monroe, Morristown, Pennington, Randolph, Somerset, and Williamstown, N.J.; and Coventry, Devon, Doylestown, Glenn Mills, Lionville, Malvern, Paoli, Trevose, Warminster, and West Chester, Pa.; and Palm Beach, Fla.