Community Bank and Credit Union Software Research

Part
01
of one
Part
01

Community Bank and Credit Union Software Research

We have presented the required information for Fiserv, Jack Henry, FIS, Q2, TrustAlchemy, Digital Insight (NCR), Kony (Temonos), and Bottomline Technologies in a Google spreadsheet. For each company we provided the founding year, headquarter's city, valuation (market cap if public or acquisition price if sold), any customers listed on their website, and summary of key products sold. Additionally, if the company was private and had not been acquired, we presented the funding data.

We want to note that in column H where Digital Insight was asked for, they no longer exist. They were acquired by and folded into the NCR Corporation in 2014. Additionally, in column I where Kony was asked for we replaced it with Temonos. Kony was acquired by Temonos in 2019. All our information that was curated is now based on NCR and Temonos being the target companies.

While the entire project has been delivered in this Google spreadsheet, highlights of the research for two of the companies can be viewed below.

Narmi

  • Found in column B and from rows 2-8. This is a private company. According to Crunchbase, the company has raised a total of $100K in funding over 3 rounds. Their latest funding was raised on Apr 19, 2019 from a Seed round. Narmi is funded by 6 investors. Picus Capital and K50 Ventures are the most recent investors.
  • They offer mobile and online banking, digital account opening, and an admin platform.
  • Mobile banking and online banking: Narmi’s Mobile Feed acts as the hub of the mobile banking experience, displaying key features in an elegant, intuitive interface which includes fintech integrations, new secure message display, check deposit history display, spending analysis, and bill payments. It has an automatic savings feature, ACH wires, and internal transfers.
  • Digital account opening: They state an account can be opened in 2.5 minutes, as well as having a completely responsive design that emphasizes high conversion rates and low abandonment rates. They offer full support for checking, savings, money market and certificate of deposit (CD) accounts and funnel analytics and detailed application tracking.
  • Admin platform: Narmi has developed a suite of Admin, CRM, Fraud & Support tools to empower financial institutions and complement Narmi’s user-facing digital platforms.
  • The graphic below shows all the products and services offered by Narmi.

Jack Henry

  • Found in column D and from rows 2-8. This is a public company. Jack Henry & Associates market cap as of September 04, 2020,was $12.7B.
  • Jack Henry offers solutions for banks and credit unions. For both segments, these include Core Solutions. Retail Delivery. Online & Mobile. Imaging Solutions. JHA Payment Solutions. Information Security & Risk Management. Business Intelligence & Financial Performance. Training & Consulting.
  • Banking: they offer three functionally distinct banking platforms: SilverLake System, a highly customizable, IBM Power Systems-based solution for commercial banks. CIF 20/20, a parameter-driven, IBM Power Systems-based solution. Core Director, a Windows-based core processing solution. These powerful core systems integrate with more than 140 complementary products and services, offering banks a single source for enterprise-wide automation and a single point of contact and support.
  • Credit Unions: they have two distinct core platforms can scale to any size credit union. For small and mid-sized credit unions, they offer the CruiseNet platform, a Windows-based core using the latest .NET technology. CruiseNet can be run in-house, and it’s also offered as an outsourced service via JHA OutLink Processing Services. For larger credit unions, they provide Episys, a highly customizable, IBM System p- based core. Episys is so reliable and flexible that the platform is chosen by nearly 40% of all credit unions with assets of more than $1 billion. They also offer Symitar EASE, which manages the Episys core in a secure, outsourced environment. An additional benefit to using Episys is the availability of PowerOn, a utility that enables credit unions to customize virtually any aspect of the Episys system.
Sources
Sources