PRESS RELEASE FROM NARMI

NEW YORK — In the latest chapter of a rewarding partnership with Berkshire Bank, Narmi is excited to power the technology behind Berkshire One, an innovative suite of digital-first banking solutions designed to make banking considerably easier for consumers. Berkshire joins other Narmi financial institutions on the FIS IBS core that are leveraging an integrated account opening and digital banking platform to increase core deposits, drive bank primacy, and ultimately offer a compelling end-to-end digital experience that consumers and businesses are excited about. 

Berkshire One will provide customers with enhanced and best-in-class digital banking capabilities in service to their financial goals, including a new digital banking platform, sub-2.5 minutes account opening functionality and enhanced fraud and security detection capabilities. 

To ensure Berkshire One met the bank’s and its customer’s standards for security and efficiency, Narmi worked with Berkshire’s teams to implement behavioral analytics platform NeuroID and identity verification platform Vouched, as well as working with end-to-end identity risk solution provider Alloy. All of these solutions combine to anchor new customer onboarding processes with ironclad defenses against fraud.

“We are thrilled to be the digital platform powering Berkshire One. The launch of Berkshire’s suite of digital solutions is a milestone that reflects the exceptional partnership we’ve had with Berkshire Bank over the last few years. Together through one integrated platform, we have created a seamless experience for their clients, from account opening to digital banking, while enabling their operational teams to streamline workflows and reduce risks. We’re excited to continue expanding and evolving the digital offerings available in Berkshire One for their clients’ needs,” said Nikhil Lakhanpal, Co-Founder of Narmi. 

“Berkshire One represents an important milestone for Berkshire Bank and our clients helping them bank on their own terms, when, where and how they want. Featuring a sophisticated suite of digital solutions, Berkshire One combines all our customer-centric technology and banking solutions into one comprehensive digital brand. Working alongside a like-minded partner and industry leader in Narmi ensures we deliver the best digital experiences to all our clients,” added Sumant Pustake, executive vice president, chief strategy and marketing officer at Berkshire Bank.

In addition to enhancing Berkshire Bank’s omnichannel presence, Berkshire One will provide a series of online-exclusive deposit solutions: Berkshire One Checking, Berkshire One Savings, Berkshire One Money Market, and Berkshire One CD. The array of offerings built through Berkshire One is meant to meet the needs of any current or potential Berkshire customer, at any point of their financial journey via frictionless, high-completion account opening journeys and comprehensive, feature-rich digital banking. Additional highlights of the Berkshire One Checking offering include:

• $15 per month towards your qualified streaming service for two years with Stream On
• Competitive interest rates on savings, money market and checking products
• Cell phone insurance and ATM fee refunds
• Continuous credit monitoring and fraud expense reimbursement
• And more.

The launch of Berkshire One is the culmination of a years-long relationship with Narmi, during which the bank has adopted the full Narmi platform, from digital account opening and digital banking for their end users, to one suite of back-end solutions designed to promote staff efficiencies and reduce operational risks. The ability to house this full range of capabilities on one platform – in addition to a powerful integration and experience working with Berkshire’s FIS IBS core – was fundamental in launching this groundbreaking suite of solutions so effectively.

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About

About Narmi: 

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 3x account growth in less than 30 days and 4x deposit growth in as little as 90 days. Additionally, Narmi’s financial institution clients are winning awards like Bankrate’s Best Online Bank and Nerdwallet’s Best Bank for Online Experience. For more information, please visit www.narmi.com. 

About Berkshire Bank

Berkshire Bank is a relationship-driven, community-focused bank that delivers industry-leading financial expertise to clients in New England and New York and is a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE: BHLB), headquartered in Boston. With $12.1 billion in assets and 93 financial centers, the Bank provides a full suite of tailored banking solutions through its Commercial Banking, Retail Banking, Consumer Lending, Private Banking and Wealth Management divisions. For more than 175 years, Berkshire has delivered strength, stability and trusted advice to empower the financial potential of its clients and communities. Newsweek named Berkshire one of the Most Trustworthy Companies in America and one of America’s Best Regional Banks. To learn more, visit BerkshireBank.com and follow Berkshire on Facebook, Instagram, and LinkedIn.