Radius Bank Launches Enhanced Online Banking and Mobile App Experience for Small Business Customers

BOSTON–(BUSINESS WIRE)–Radius Bank, a forward-thinking digital bank, today announced the recent launch of its enhanced online business banking platform and mobile app for small businesses. The revamped user experience is the result of the bank’s ongoing partnership with New York-based fintech company Narmi, which also powers Radius’ consumer online banking and associated mobile app.

Two and a half years ago, the Bank added an online account opening app that allows small businesses to digitally open a bespoke current account in less than 10 minutes from anywhere in the country. Following the growth and success of the product, the natural next step in Radius’ technology roadmap was a seamless online and mobile banking experience for their small and medium-sized business (SME) portfolio. Radius turned to Narmi, one of their partners who played a major role in securing the Bank the coveted Bankrate best online bank for 2020, to once again deliver an enhanced banking experience to their customers. Both companies have been working on an accelerated schedule to deliver the platform ahead of schedule to support the influx of new business customers seeking a sophisticated digital banking solution in the wake of the global pandemic.

“Historically, banks have struggled to properly support small businesses because they have the high expectations and needs of a consumer but the complexities of a business owner,” said Alain Glanzman, vice president of services. small business banking. “By partnering with Narmi to extend Radius’ consumer digital experience to our business customers, while adding new features that allow them to easily manage their business operations, we are doubling down to support a segment that is looking for a platform that will propel their business in the right direction.”

“Offering a best-in-class digital banking solution is a problem for the majority of banks today. Often times, businesses are forced to leverage outdated platforms to meet their banking needs. The result is a broken relationship between financial institution and the business, which ultimately benefits no one,” says Nikhil Lakhanpal, co-founder of Narmi. “With business in mind, Narmi’s business banking platform delivers functionality, intuitiveness and flexibility in the hands of Radius’ corporate customers. In turn, banks like Radius can spend more time focusing on digital deposits, profitability and customer growth.”

Improvements to the customer banking experience include:

● High security and control for business owners

• Businesses now have an intuitive way to assign and manage access to banking services based on roles. With dual approval, business owners can also customize who can approve certain transactions and how much money they can approve.

● Control and flexibility put back in the hands of the company

• Full ACH creation, wire transfers, mobile check deposit, integrated Accounts Payable/Receivable functionality with Autobooks, and Business Bill Pay API integration

• Card controls for debit card security

● A simplified user experience

• Businesses can now seamlessly transition between personal and business accounts, as well as deposit checks, pay bills, and transact with mobile banking.

• The possibility of sponsoring colleagues or friends by SMS or e-mail

• A location-based ATM finder

Recognized over the years with the Celent Model Bank Product Innovation Award and the Best of FinXTech Award, this upgrade to the Radius business banking platform continues to demonstrate a commitment to providing solutions for businesses looking to meet their unique banking needs. Radius will seek to expand product and service offerings within the platform in 2021.

To learn more about Radius’ enhanced online banking experience, visit: https://radiusbank.com/business/banking/. The Radius Mobile app is available on Apple, Android and Google Play stores.

About Radius Bank

With assets of approximately $2.3 billion, Radius Bank is a forward-thinking digital bank committed to providing a full range of accounts and services to meet the banking needs of consumers and businesses nationwide. Radius offers the product depth of a national brand, the technology of a fintech, and the personalized attention typically reserved for a local bank for consumers, small and medium businesses, unions, government entities, and nonprofit organizations. non-profit. Named Best Online Bank 2020 by Bankrate and one of the Best Online Checking Accounts for 2020 by Nerdwallet, Ascent and NextAdvisor, the Bank’s award-winning digital banking platform empowers consumer customers to bank from n anywhere with a computer or mobile device and offers convenient features such as check deposit, bill payment, card management and personal financial management dashboard. Corporate clients benefit from a wide range of award-winning deposit products, advanced cash management services, and lending and payment solutions. Additionally, Radius’ open API suite provides a robust banking platform as a service (BaaS) enabling fintechs to quickly access core banking functionality and build best-in-class financial solutions. Radius specializes in partnering with forward-thinking fintechs to provide white label deposit products, cards, digital onboarding, and account management. Radius Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Opportunity/Housing Lender. For more information, visit the Bank’s website at radiusbank.com, or follow the Bank on Twitter, LinkedIn, Facebook and Instagram.

About Narmi

Narmi is a fintech company that builds enterprise solutions for consumer digital banking, business banking, and digital account opening. Financial institutions work with Narmi to be leading digital organizations, get to market faster with cutting-edge features, and better compete with mega-banks, challenger banks, and fintech companies. With a strong focus on openness, Narmi’s open framework allows financial institutions to build their own extensions and functionality on the core platform to suit their needs. Today, Narmi powers financial institutions with billions of dollars in assets and helps move millions of dollars between financial institutions daily. To learn more about Narmi, visit: www.narmi.com.