PORTLAND, MAINE September 5, 2023 – Northeast Bank is pleased to announce the successful launch of a new Digital Account Opening experience powered by Narmi, a leading provider of digital banking solutions. The new experience will be leveraged by both Northeast Bank and its ableBanking brand and will transform the account opening process, offering customers the convenience and security of opening accounts online in under three minutes.

Northeast Bank is a full-service bank based in Portland, Maine that is known for its commitment to excellence in serving its customers. Its digital-only division, ableBanking, engages customers across the nation. The partnership with Narmi ensures a streamlined digital account opening solution across both brands, enhancing the customer experience and unlocking additional deposit growth for the bank.

The Narmi Digital Account Opening platform boasts a range of features that redefine the account opening process:

• Three custom application flows designed to optimize the user experience for new applicants, existing customers, and returning users.
• Industry-leading identity decisioning that automates up to 100% of application decisions.
• A comprehensive back-end portal that consolidates all application details for staff.

Through a direct integration with the bank’s core banking system (Jack Henry Silverlake), Narmi achieved a successful launch of both Northeast Bank and its ableBanking brand in under 80 days.

“Northeast Bank is proud to partner with Narmi to offer our customers a truly exceptional digital account opening experience,” said Robert T. Banaski, SVP, Director of Community Banking for Northeast Bank.

“This milestone is a significant stride in the Bank’s digital transformation strategy. Together, we are raising the bar for digital banking experiences, making it easier than ever for our customers to bank with us from anywhere.”

“We are excited to support Northeast Bank as they move forward in their digital journey,” said Nikhil Lakhanpal, Co-Founder of Narmi. “This partnership will set the stage for Northeast Bank’s continued growth in the region.”

About Northeast Bank

Northeast Bank (NASDAQ: NBN) is a full-service bank headquartered in Portland, Maine that offers personal and business banking services to the Maine market via seven branches. Its National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com.

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 2020 Best Online Bank and Nerdwallet's Best Bank of 2021 for Online Experience. For more information, please visit www.narmi.com.