Digital banking platform provider for banks and credit unions, Narmi, is to launch AI Decision Assist. The new agentic AI capability is designed to help financial institutions automate and accelerate account opening reviews while still maintaining control, transparency, and compliance.
According to Narmi, AI Decision Assist performs an initial review of applications, analyses identity, risk, and compliance information, then generates recommendations that help humans within financial institutions make faster, more informed decisions.
Each recommendation is fully auditable and explainable, providing clear visibility into how conclusions were reached, while demonstrating compliance with internal policies and regulatory requirements. The vendor says this reflects its practical approach to AI: start with a specific customer painpoint, then apply AI as the mechanism to solve it, not the other way around.
Unlike one-size-fits-all decisioning tools, AI Decision Assist is highly configurable to reflect each institution’s unique risk appetite and operational processes. Because recommendations are grounded in each institution’s own history of approved, flagged, and declined applications, the system reflects how that institution actually makes decisions.
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Reducing manual review times from hours to minutes
By automating the initial review process, AI Decision Assist reduces manual review times from hours to minutes, enabling institutions to improve efficiency and make decisions with greater speed and confidence. Early results indicate financial institutions using the tool can achieve approval rates up to 6% higher.
“Account opening remains one of the most time-intensive workflows for financial institutions, often relying on fragmented systems and manual review processes that require employees to gather information from multiple sources before making a decision,” said Chris Griffin, co-founder of Narmi. “AI Decision Assist is designed to dramatically fix that problem, by fitting in seamlessly into existing workflows, helping teams make better decisions faster while eliminating one of the most time-consuming and cumbersome parts of account opening.”
Future enhancements are expected to further streamline the application process, including the ability to intelligently request supporting documentation and reduce friction points that can contribute to applicant drop-off.
