MANTL Introduces Bulk Account Opening to Enhance Banking Efficiency and Customer Experience

MANTL Launches Innovative Bulk Account Opening Feature

MANTL, a prominent provider of loan and deposit account opening technology as part of Alkami, has unveiled an exciting new feature designed to redefine the banking experience: Bulk Account Opening. This innovative functionality enables financial institutions to open multiple retail or business accounts through a single application, thereby streamlining branch operations and significantly enhancing the workflow for bankers.

The Purpose Behind Bulk Account Opening

The financial sector is continually evolving to meet the demands of modern banking consumers. Customers expect speed and efficiency, especially when it comes to account management. MANTL’s Bulk Account Opening is tailored to meet these needs by allowing bankers to handle multiple account openings without the repetitive nature of traditional processes. With this feature, the tedious task of filling out several applications is transformed into a more straightforward process that enhances not only operational efficiency but also customer satisfaction.

Transforming Business Account Onboarding

The core function of this feature particularly benefits the onboarding process for business accounts. Early users of the Bulk Account Opening have reported the ability to open as many as 14 business accounts within just one seamless application. This stark reduction in administrative burdens fosters opportunities for bankers to engage more with clients, focusing on relationship building rather than paperwork.

Alex Sulpasso, Executive Vice President and COO of Ascend Bank in Connecticut, emphasized the significance of this innovation, stating, "MANTL Bulk Account Opening takes a best-in-class experience and scales it, significantly saving time for both clients and employees. For businesses managing multiple accounts, this feature transforms convenience into genuine value."

Key Benefits of MANTL's New Feature

MANTL Bulk Account Opening offers a variety of advantages:
1. Increased Wallet Share: By allowing the activation of numerous accounts under one application, it helps in capturing more business from existing customers.
2. Deeper Customer Relationships: The feature frees up bankers from repetitive tasks, enabling them to concentrate on enhancing customer interactions and understanding their needs better.
3. Enhanced Onboarding Experiences: The new system simplifies the onboarding process, making it intuitive for both clients and branch staff, thereby improving overall satisfaction levels.

Benjamin Conant, co-founder and CTO at MANTL, highlighted the transformative nature of this tool: “Bulk Account Opening is a game-changer for branch efficiency and digitization, especially for regional and community banks. We are providing institutions with a modern and scalable tool that deepens banking relationships and drives significant deposit growth.”

Future Prospects

MANTL aims to expand this feature beyond its current clients to include credit union customers later this year, broadening its impact across the financial landscape. For banks and credit unions eager to enhance their service delivery, MANTL’s Bulk Account Opening demonstrates an effective step toward attracting and retaining clients in a competitive market.

As a member of Alkami Technology, Inc. (Nasdaq ALKT), MANTL continues to lead the way in offering innovative banking solutions. Their commitment to improving banking channels rests on empowering institutions to deliver swift account openings and seamless digital experiences that benefit both consumers and banking staff alike.

For more information about MANTL or to schedule a demonstration, visit mantl.com. Stay connected with MANTL on LinkedIn for updates on their latest innovations.