University Federal Credit Union (UFCU) was founded in 1936 to serve faculty and staff of The University of Texas at Austin. Over the past 75 years, UFCU has expanded into multiple universities, membership segments, and geographic areas – all in the effort to serve the great Texas community.
To enter their next phase of digital-led growth, UFCU needed a digital account opening platform that allowed them to scale across a wide university base, open accounts quickly for students, and maximize their investment in existing membership segments.
In four months, Narmi delivered a digital account opening platform that brought application completion rates to an industry-leading 83%, fully integrated with UFCU’s core banking system (Jack Henry Symitar), and allowed UFCU to effectively scale across all membership segments in a trackable manner. Equally as important, Narmi provided confidence to UFCU in the identity verification decisioning process, allowing UFCU to open more good accounts and keep away bad actors.