When an external transfer request is made in Narmi One, Narmi offsets the transaction to a General Ledger (GL) account in the financial institution's core banking system. These transfers include ACH or remote deposit capture (RDC) transactions in Narmi Banking or the initial funding deposit in Narmi Grow. Offsetting to a GL account enables a clear reconciliation process.
A GL account or accounts will be requested in the Implementation Workbook early in the project. The number of required GL accounts is dependent on the level of reconciliation to be performed by your institution.
Your institution will need to provide separate GL accounts if you wish to reconcile any of the characteristics below separately:
Consumer vs. business accounts (Narmi Grow only)
If Narmi provides both consumer and business account opening services for your institution, and you wish to reconcile funding separately
Unique brands under your institution's umbrella (both Narmi Grow and Narmi Banking)
If your institution operates multiple brands, a GL account is required for each one that should be reconciled separately.
Each remote deposit capture (RDC) instance via Ensenta (Narmi Banking only)
Additional Narmi Banking Considerations
It is essential to note that the GL account(s) are required, regardless of whether your institution offers real-time posting (RTP); the mechanics of offsetting transactions to a GL account will occur either way.
Risk rules, holds, and transfer limits allow your institution to customize the configuration around RTP. Ultimately, the immediate availability of funds to end-users via RTP is at your discretion.