Simplify Payments and Enhance Control for Business Banking with Wire Templates

Efficient wire transfers are critical for business banking customers who handle frequent or high-value payments. To bridge gaps in efficiency and align with market standards, Narmi has introduced wire template functionality, designed to streamline repetitive transactions, enhance user experience, and bolster risk management.

Here’s what to expect:

Create and Manage Comprehensive Wire Templates

Narmi’s wire templates allow users to create reusable payment templates with detailed transaction information, including recipient data, funding accounts, and memos. This new feature, available on both web and mobile, eliminates repetitive data entry, reducing the chance of errors and significantly speeding up the wire transfer process. It offers core functions like creating, editing, and deleting templates, with flexibility to modify fields when using them for payments.

While Narmi's legacy wire capabilities effectively supported most users, they presented limitations for businesses initiating high volumes of wire transfers. With our new Wire Templates functionality, we’re excited to provide these businesses with a more streamlined and efficient experience - Charlie Hamlin, Group Product Manager

Enhanced User Experience and Efficiency

With this update, financial institutions can improve user satisfaction by simplifying the wire transfer workflow. Users benefit from easy-to-manage templates and search functionality (in future phases) that cater to organizations with recurring wire needs. The streamlined process not only saves time but also minimizes risks associated with manual entry errors, improving overall operational efficiency.

Bolster Risk Management and Control

Risk management is paramount in business banking, and Narmi’s wire templates introduce enhanced controls. Business administrators can assign permissions, defining who can create, manage, or send payments using templates. Dual-approval workflows and limits for template usage provide multiple layers of security, ensuring compliance and reducing fraud risks.

With these new features, Narmi is empowering financial institutions to elevate their business banking offerings, attract commercial clients, and provide a seamless, reliable, and secure wire transfer experience.

Check out this quick video to learn more about our Wire Templates.

If you have any questions or would like to explore how you can take advantage of these new offerings, please visit the developer portal or contact your Narmi representative for a demo.