#USA #Alkami #MANTL #Embers Credit Union #Marquette

Embers Credit Union Boosts Lending with MANTL

In a significant move towards modernizing its lending process, Embers Credit Union, based in Marquette, Michigan, has successfully implemented the MANTL Loan Origination system. The collaboration with Alkami Technology, a leading provider of digital sales and service platforms for financial institutions, marks an important step as Embers aims to enhance lending automation and improve operational efficiency.

The MANTL platform is designed to create a unified experience for both deposits and loans, effectively serving the needs of borrowers and loan officers alike. So far, Embers has made impressive strides with its existing offerings, raising close to $28 million in deposits via MANTL while achieving an average account opening time of just five minutes across digital and physical banking channels.

A Seamless Integration

With this latest expansion, Embers is now venturing into lending through MANTL, starting with credit card applications and paving the way for future offerings such as auto loans, personal loans, and recreational vehicle loans. David Black, Executive Vice President and COO at Embers Credit Union, emphasized the importance of this system, stating, "MANTL has significantly reduced the time our loan officers spend on credit card applications, allowing them to focus more on the member in front of them."

This enhanced focus on members plays a vital role in not only improving customer service but also in solidifying the credit union’s status as a leading workplace. Black further remarked, “Expanding into loans is a pivotal step toward providing our members with a single, cohesive platform for all their banking needs.”

Key Benefits and Future Directions

Embers Credit Union’s partnership with MANTL goes beyond just streamlining processes. It fosters a collaborative environment where feedback from credit unions has been instrumental in product design and development. The credit union was among the initial cohort of partners that collaborated closely with MANTL, providing valuable insights that ensured the platform met the real-world needs of its users.

Benjamin Conant, Chief Product Officer at Alkami, expressed excitement over the milestone, noting that Embers’ feedback helped shape MANTL Loan Origination into a more user-friendly product for employees, while simultaneously enhancing the borrowing experience for members. He stated, “Embers’ launch of MANTL Loan Origination is not only a critical achievement for us but also for the wider lending industry.”

As more credit unions evolve their lending methods with modern technology, the framework established by Embers Credit Union sets a precedent for others. The commitment from Alkami and Embers to innovate continuously aligns with a broader shift towards Anticipatory Banking, where institutions must engage with their members proactively and efficiently.

Embers Credit Union continues to exemplify adaptability and innovation, demonstrating how a focus on technology can yield improved member experiences. As they introduce further loan products into the MANTL platform, the future looks promising for this community-minded financial institution.

Conclusion

In summary, Embers Credit Union’s launch of MANTL Loan Origination represents a significant advancement in the realm of consumer lending. With its focus on member service and operational efficiency, the union not only enhances its internal processes but also transforms the lending experience for its customers. As the landscape of financial services continues to shift, Embers remains committed to leveraging technology to serve its communities better, ensuring both growth and sustainability in the evolving banking environment.