Narmi has partnered with Ninth Wave to give community banks and credit unions secure Open Finance connectivity for business customers.
Following this collaboration, community banks and credit unions using Narmi’s digital banking platform will gain new connectivity options. The collaboration allows business customers at these institutions to link directly to their accounting and enterprise planning systems, addressing demand for improved integration with third-party financial tools.
Addressing legacy data-sharing issues
Ninth Wave’s system is designed to replace older practices such as screen scraping and credential sharing, which have long raised security concerns. Instead, it introduces an API-based framework that allows customers to maintain control over their data while supporting regulatory compliance. According to representatives from both companies, this model reduces operational risks for financial institutions while helping them keep pace with the technology available at larger banks.
Officials from Narmi explained that businesses increasingly expect digital platforms to offer seamless connections with their financial software, and the partnership aims to make that standard for community banks and credit unions. Representatives from Ninth Wave added that joining forces with Narmi enables them to extend their reach while supporting institutions that are looking to modernise their services.
Founded in 2018, New York-based Ninth Wave provides secure data connectivity between financial institutions and third-party applications, including fintechs, accounting platforms and tax software. According to the official press release, the company’s infrastructure currently supports more than 2,000 institutions and 120 million accounts.
Narmi, also headquartered in New York, develops digital banking and account opening technology for financial institutions. Its platform is designed to help banks and credit unions upgrade customer-facing services and adopt new digital tools.
The partnership reflects a wider trend in the US financial sector, where smaller institutions are looking to maintain competitiveness by offering customers direct, secure access to the financial applications they already use.
