MANTL Launches Bulk Account Opening Feature for Banks, Enhancing Efficiency and Customer Engagement

MANTL, part of Alkami Technology, has launched Bulk Account Opening, enabling multiple account creation through a single application. Early adopter Ascend Bank reported improved efficiency, opening up to 14 accounts in a single workflow. The feature will extend to credit unions by late 2025, enhancing bank operations and customer engagement. This innovation aims to streamline branch operations, reduce administrative burdens, and boost customer satisfaction.

MANTL, a leading provider of loan and deposit account opening technology and part of Alkami Technology, has introduced a new feature, Bulk Account Opening, designed to revolutionize the way financial institutions manage account onboarding. This innovative solution allows banks to open multiple retail or business accounts through a single application, significantly enhancing operational efficiency and customer satisfaction.

According to the announcement, MANTL Bulk Account Opening enables bankers to streamline their workflows, reducing the administrative burden and allowing them to focus more on building relationships with customers. Early adopters, such as Ascend Bank in Connecticut, have already experienced substantial efficiency gains, with some opening as many as 14 business accounts in a single, streamlined application workflow [1].

The key benefits of this new feature include increased wallet share, as it allows customers to seamlessly open multiple accounts in a single application, and the ability to deepen relationships by freeing bankers from redundant tasks. Additionally, the feature enhances the overall onboarding experience for both customers and branch staff, delivering a frictionless and intuitive process [1].

Benjamin Conant, co-founder and chief technology officer at MANTL, stated, "Bulk Account Opening is a game-changer for branch efficiency and digitization at regional and community banks. By consolidating the process of opening multiple accounts into a single application and seamless experience, we're giving institutions a modern, scalable tool to deepen relationships and drive meaningful deposit growth" [1].

MANTL Bulk Account Opening is currently available to MANTL bank customers and is set to expand to credit unions by the end of 2025. This expansion aims to further enhance the capabilities of financial institutions, helping them to streamline their operations and better serve their customers [1].

References

[1] https://www.marketscreener.com/news/mantl-unveils-bulk-account-opening-to-streamline-branch-operations-simplify-banker-workflows-and-i-ce7c50dedf8cfe2c