#United States #New York #digital banking #Alkami #Quontic Bank

Quontic Bank Enhances Digital Banking with Alkami Technology

Quontic Bank, known for its customer-centric approach, is revolutionizing the digital banking landscape by leveraging Alkami Technology, Inc.’s innovative platform. Recently, the bank announced a successful integration of Alkami’s Digital Banking Platform and MANTL, a cutting-edge provider for loan and deposit account opening technology. This partnership has led to a streamlined customer journey from initial account opening through to robust digital banking services.

A new case study from Quontic reveals the impressive impact of this integration on its operations. Thanks to Alkami, the bank has seen the percentage of customers transitioning from account application to active digital banking soar from about 53% to the mid-70s range within just three months. This significant increase illustrates how the combined efforts of both platforms allow new customers to engage directly with their digital spaces without unnecessary delays—enhancing their overall banking experience from day one.

Grace Pace, Senior Vice President of Digital Banking at Quontic Bank, stated, "Integrating both platforms was essential in achieving the seamless digital experience we always envisioned. Our customers can now transition from onboarding to online banking effortlessly, keeping their information intact and their banking journey uninterrupted. This efficiency is not just beneficial for the customer experience but also streamlines our operational processes."

Quontic Bank has also reported that it doubled the volume of post-account opening services requested by customers. This includes essential features such as adding joint owners or beneficiaries, facilitating check orders, debit card requests, and switching direct deposits. More customers are fully utilizing their accounts, showcasing an increased engagement level right from the start.

Prior to this significant integration, Quontic had already made significant strides in digital banking. For instance, the bank boasts an impressive 4.8-star rating on the App Store, with over $800 million in deposits raised and approximately 94% of application decisions automated. The bank has also optimized its account opening process, reducing it to under three minutes, and has been creating nearly 1,000 new customer relationships each month—some months even reaching up to 5,000 new accounts.

In a bid to create a more cohesive customer experience, Quontic played an active role in shaping the integration between MANTL and Alkami’s platform. Their involvement in a beta cohort aimed at ensuring seamless onboarding, activation, digital banking, and ongoing relationship growth has highlighted the essential components that contribute to a comprehensive digital sales and service platform.

Stephen Bohanon, Alkami's Founder and Chief Strategy Officer, remarked on the collaboration, emphasizing that they built these integrated capabilities alongside their customers. By focusing on real-world feedback, they have crafted a journey that reduces friction and fuels long-term relationships from the very first customer interaction. Bohanon stated, "Quontic's stellar results affirm our belief that enhancing digital engagement leads to stronger customer relationships and improved financial outcomes."

To discover how Quontic Bank utilizes Alkami's platform to facilitate a transformative digital banking experience, visit their official site.

About Quontic Bank
Quontic Bank is recognized as a digital bank committed to empowering its customers financially. With a mission to break down traditional banking barriers, Quontic offers adaptive lending solutions and innovative deposit products tailored to various customer needs. It primarily focuses on serving those who have often been overlooked by mainstream banks, including entrepreneurs, gig economy workers, and immigrants.

About Alkami
Alkami provides a leading digital sales and service platform for banks and credit unions across the U.S. Their unified platform integrates onboarding, digital banking, and data-driven marketing solutions, enabling financial institutions to engage effectively with their customers while fostering growth. As the shift towards anticipatory banking continues, Alkami remains at the forefront, offering technology solutions that prompt action based on customer data.