Transforming Account Access: SECU and MANTL's Innovative Partnership in Maryland Banking

Streamlining Banking: SECU and MANTL Partnership

In a significant move for banking modernization, the State Employees' Credit Union of Maryland (SECU) has partnered with MANTL, a leading provider of account origination technology under Alkami Technology. This collaboration aims to enhance the account opening processes for both business and retail members.

A New Era of Banking Efficiency

SECU, the largest credit union in Maryland, operates a vast network of 23 branches and serves over 250,000 members. The partnership with MANTL is set to revolutionize how members can access services across all banking channels. SECU's commitment to innovation is clearly reflected in its goal to provide a seamless account opening experience that is accessible at any time and on any digital channel.

By integrating MANTL's tools with its established digital banking platform provided by Alkami, SECU aims to significantly reduce the time required for account openings. Members will be able to open new accounts quickly, typically in less than five minutes online and within ten minutes in a branch setting. This efficiency not only improves customer experience but is also a strategic move to enhance member satisfaction and loyalty.

Innovative Solutions for All Members

With MANTL’s Consumer Deposit Origination technology, SECU will streamline its current processes, enabling a simplified and intuitive account opening experience. This technology addresses a common pain point in banking—filling out cumbersome forms and navigating complex procedures. The new system promises to remove friction and facilitate faster transactions, thereby attracting more customers.

Moreover, businesses will also benefit significantly from this partnership. MANTL's Business Deposit Origination will allow companies to establish accounts seamlessly, whether they choose to apply online, via mobile app, or in person at a branch. Businesses of all sizes will have the tools needed to establish accounts efficiently, which is crucial for deepening relationships within the community and enhancing local economic growth.

Commitment to Innovation

Jason Reimer, SECU's Executive Vice President and Chief Infrastructure and Experience Officer, emphasized the credit union's dedication to technological advancement, stating how critical it is to put members first by implementing cutting-edge digital solutions. This partnership signifies SECU’s commitment not only to improve the member experience but also to lead in financial accessibility.

Nathaniel Harley, Co-founder and President of MANTL, expressed excitement about collaborating with Maryland’s largest credit union. According to him, the focus on providing faster and more intuitive services aligns well with both companies’ missions to transform banking.

Automating Processes for Enhanced Security

The integration of MANTL into SECU’s core banking system also means that over 85% of application decisions can now be automated. This includes critical processes like Know Your Customer (KYC) validations, Anti-Money Laundering (AML) checks, and Bank Secrecy Act (BSA) compliance. Such innovation not only enhances efficiency but also assures members of robust security measures that protect their information and finances.

Looking Ahead

As SECU and MANTL embark on this journey, they set a precedent for other financial institutions aiming to enhance their customer service through technology. By effectively merging traditional banking values with modern technological solutions, SECU is ensuring that it remains a relevant and trusted institution in a rapidly evolving financial landscape.

For more detailed information about SECU’s offerings or to view how the latest technologies are being implemented, visit SECU’s official site. Similarly, insights into MANTL’s services can be found through their website, emphasizing the importance of local partnerships in fostering community growth.

In conclusion, SECU and MANTL’s collaboration not only promises to redefine banking experiences but also strengthens the foundation of financial accessibility and efficiency in Maryland.