Built from scratch with the member experience in mind, MANTL partnered with Alliant Credit Union to develop a digital deposit origination solution focused on speed, simplicity and security
MANTL, a leading provider of account origination solutions, announced its expansion into the credit union market with MANTL for Credit Unions. Custom built with the member experience in mind, MANTL provides omnichannel consumer and business deposit origination platforms that automate up to 97% of application decisions to help credit unions grow their member base and scale efficiently.
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MANTL partnered with Alliant Credit Union, a $17B digital financial institution, to create an automated omnichannel deposit origination solution that is built specifically for credit unions. MANTL for Credit Unions optimizes three key aspects of the member experience at the point of origination: speed, simplicity and security. With the MANTL platform, Alliant Credit Union:
- Improved application conversion rates by 60% over its previous online deposit origination solution
- Funded 100% of accounts upon application
- Reduced the time to open an account by over 30% and existing members can open additional accounts in just a few clicks
“The MANTL team is working right alongside us to meet our objectives, both short-term and long-term, and together we have built a next-level digital front door,” says Sumeet Grover, Chief Digital and Marketing Officer at Alliant Credit Union. “MANTL is a true partner. They understand our business model. And they offer the kind of expertise and insight that will help us innovate and grow in the years to come.”
With MANTL for Credit Unions, consumers and businesses can efficiently open accounts online, in-branch or in the field while staff retains full visibility into their progress. The Consumer Deposit Origination solution empowers new applicants to originate checking, savings, CD money market and minor accounts in under three minutes and existing members can open a new share account in just one click. The Business Deposit Origination solution customizes workflows for businesses of all sizes and complexities, and employees can request information from business owners and authorized signers at any point in the process – online, in-branch or on the go.
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“Credit unions are renowned for delivering white-glove member experiences and it’s important in today’s digital-first banking landscape to ensure that curated experience extends to digital channels,” said Nathaniel Harley, co-founder and CEO of MANTL. “With our development partner Alliant, we examined every step in the member onboarding process, from eligibility requirements to real-time KYC decisioning, to create a frictionless, cost-effective, and high-value solution that is purpose-built for credit unions.”
MANTL integrates with every major core banking system and allows credit unions to customize the member experience with a white-labeled, codeless Digital Branch Manager. Key features of MANTL for Credit Unions include:
- Omnichannel account origination. Members can start an application in one channel and finish it in another — online, in-branch, in a call center or in the field — for a flexible and seamless member experience.
- A 100% digital solution with automated smart decisioning. MANTL automates over 90% of application decisions, including KYC, AML, BSA, product service ordering, funding, and core booking, to create efficiencies and keep manual processes to a minimum.
- Dynamic eligibility verification. MANTL uses machine learning to collect and verify only the information needed to determine eligibility, removing friction from the process.
- Adaptive due diligence. The system’s risk-based approach auto-generates digital forms in accordance with your credit union’s Customer Identification Program (CIP) rules and flags high-risk members who require enhanced due diligence (EDD).
- Best-in-class fraud mitigation. Leverage sophisticated risk modeling based on 30+ data sources to verify members and prevent fraud.
- Automated engagement. Enrich interactions and deepen member engagement with a fully automated cross-sell engine, remarketing system, and adverse action notice program.
- Reports and analytics on demand. The MANTL console aggregates member data to highlight which marketing channels drive conversions to maximize member value. With our data API, credit unions gain total flexibility in how and when they access data — so they can run the analysis in any preferred system.
- Designed with your team in mind. The MANTL console experience empowers employees to expedite and approve applications in real time, assist members as needed across any channel, and manage risk thresholds and KYC/AML.
- One code base. MANTL enables continuous innovation by upgrading its software regularly — over 40 times a year — so credit unions are always on the latest version.
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