Luminate Bank will overhaul its account opening processes online and in-branch to create operational efficiencies, drive deposit growth at scale, and vastly improve the customer experience
Minneapolis, MN – March 21, 2025 – Luminate Bank, a $336M bank headquartered in Minneapolis, today announced a partnership with MANTL, a leading provider of account origination solutions, to enhance its deposit onboarding experience for businesses and consumers and continue Luminate Bank’s goal of becoming an industry leader in the digital space. Luminate Bank will leverage the full MANTL suite of deposit origination products to remove friction from its account opening process, empowering businesses and consumers to quickly open new deposit accounts online or in-branch.
With MANTL’s omnichannel deposit origination technology, Luminate Bank will be able to bridge the gap between physical and digital channels to facilitate the seamless, secure flow of information and create a better experience for businesses or consumers. Luminate Bank will overhaul its current online account opening process, allowing consumers to open a new deposit account in three minutes or less. Luminate Bank will launch business account opening for the first time, and businesses will be able to open a new deposit account in 10 minutes or less. Digitizing the in-branch account opening experience will allow Luminate Bank to greatly reduce manual processes and vastly improve operational efficiencies at the bank. Streamlining the in-person account opening process empowers bankers to refocus their efforts on relationship-building to deepen and grow key business and consumer relationships.
“At Luminate Bank, we don’t just talk about putting clients first—we build the technology to prove it,” states Taryn Reuter, President and Chief Revenue Officer of Luminate Bank. “Our partnership with MANTL is a testament to our commitment to delivering an exceptional banking experience. While others may settle for off-the-shelf solutions, we’ve found an innovative platform that truly aligns with our mission: making banking easier, faster, and more intuitive for our clients. This isn’t just about digital transformation—it’s about ensuring every interaction feels seamless, personalized, and built around the people we serve.”
Luminate Bank will now be able to automate over 90% of application decisions, including KYC, AML, BSA, product service ordering, funding, and core booking, to create efficiencies and keep manual processes to a minimum.
“MANTL is thrilled to partner with Luminate Bank to help them better serve businesses and consumers in Minnesota and nationwide,” said David Carlson, VP of Sales at MANTL. “By combining seamless digital deposit onboarding technology with Luminate Bank’s commitment to excellent service, the bank is poised to achieve new deposit growth and accelerate its national expansion. This approach allows Luminate Bank to remain focused on what matters most: its customers.”
For more information on Luminate Bank and to view current deposit offerings, please visit: https://www.luminate.bank/
For more information on MANTL or to schedule a demo, please visit: https://www.mantl.com/request-a-demo/.
About MANTL
MANTL is a financial technology firm offering the industry’s first Relationship Banking Platform. MANTL’s unified account origination technology empowers banks and credit unions to seamlessly open loan and deposit accounts on any banking channel in real time. MANTL Deposit Origination is among the fastest and most performant solutions on the market; consumers can open a new deposit account in under three minutes, businesses can open a new deposit account in under 10 minutes, and MANTL customers raise billions in core deposits each month. MANTL Loan Origination simplifies each step in the loan process, automating up to 100% of loan application decisions to ensure a smooth, high-quality experience from personal loans to business financing. Founded in 2016, MANTL is a privately held company headquartered in New Jersey with the backing of prominent venture capital investors. For more information, visit mantl.com or follow MANTL on LinkedIn.
About Luminate Bank®
At Luminate Bank, We Open Doors—empowering individuals and families to achieve their financial dreams through personalized service and innovative digital solutions. As a nationwide bank headquartered in Minneapolis, Minnesota, we are committed to helping our clients meet their financial goals with a blend of modern technology, traditional values, and the trusted guidance of experienced professionals. Known for our exceptional commitment to customers, we take pride in delivering a seamless, supportive experience for every step of the journey.
Our dedicated mortgage division has locations and a team of loan originators across the US, making expert home financing solutions accessible to communities nationwide.
Luminate Bank is committed to safeguarding your money and accounts with FDIC insurance coverage up to applicable limits. Learn more about how we can open doors for you at www.luminate.bank, follow us on Instagram, LinkedIn, and Facebook, or call (952) 939-7200.
