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Claremont Savings Bank Partners with MANTL to Implement an Omnichannel Deposit Origination Experience for Businesses and Consumers

Claremont Savings Bank will overhaul its account opening processes online and across its five-branch network to vastly improve the customer experience, grow deposits and create operational efficiencies.

Claremont, N.H. – April 4, 2024 – Claremont Savings Bank, a $550M bank headquartered in New Hampshire, today announced a partnership with MANTL, a leading provider of account origination solutions, to enhance its deposit account opening experience for businesses and consumers. MANTL’s suite of deposit origination products will integrate seamlessly with Claremont Savings Bank’s CSI core to enable new and existing customers to easily open deposit accounts online and via its five-branch network. 

With omnichannel technology by MANTL, consumers will be able to open a deposit account with Claremont Savings Bank in minutes. The new process will offer surprisingly easy funding, real-time application decisions, and instant account details to provide the immediate gratification that consumers expect from digital services.

Businesses will be delighted by an experience that bridges the gap between physical and digital channels to facilitate the seamless, secure flow of information between banker and customer regardless of location or device. Small and medium businesses will be able to open accounts in less than 15 minutes with minimal manual intervention. For complex businesses, beneficial owners and operators can fill out their portions of the application simultaneously, wherever they choose to do so, and can flow between virtual and in-person information collection when support from their banker is needed. Reducing the time it takes to open a business or consumer account in person will allow Claremont Savings Bank’s bankers to focus their efforts on building deeper relationships with their customers.  

“The ability for MANTL to seamlessly integrate with our CSI core puts Claremont Savings Bank in a great position to enhance the account opening experience for our consumer and business customers and focus on growth and innovation in 2024 and beyond,” said David Finnerty, CEO at Claremont Savings Bank. “Our partnership with MANTL will greatly assist us in growing the bank to obtain our strategic goal of thriving, not just surviving, into the future and embrace the principles of mutuality to provide continued and impactful investments in the communities we serve.”

Digitizing the in-branch account opening experience across its five-branch network will allow Claremont Savings Bank to greatly reduce manual processes. Claremont Savings Bank will now be able to automate over 90% of the application process, including decisioning, product service ordering, and core booking. Through the partnership, the bank will implement best-in-class digital fraud prevention measures that catch bad actors in real-time. The MANTL platform leverages over 30 digital data sources to validate information and meet KYC, AML, and BSA requirements in an easily auditable way.

“At MANTL, we’ve made a name for ourselves by helping community banks meet growth targets and achieve ambitious deposit raising goals,” said David Carlson, VP of Sales at MANTL. “By acting as a strategic partner, we’re thrilled to work towards doubling Claremont Savings Bank’s current deposit base, and reducing reliance on time-consuming manual processes”

For more information on Claremont Savings Bank and current deposit offerings, please visit: claremontsavings.bank

To learn more about the MANTL product, please visit: mantl.com/request-a-demo

About MANTL
MANTL is a financial technology firm offering omnichannel account origination software for banks and credit unions. Consumer Deposit Origination by MANTL is among the fastest and most performant solutions on the market, empowering net-new prospects to open accounts in under three minutes, enabling existing account holders to open additional accounts with just one click, and reducing fraud by as much as 67%. Commercial Deposit Origination by MANTL is a first-of-its-kind solution that reimagines account opening for businesses of all sizes by automating up to 97% of application decisions. MANTL customers raise billions in core deposits each month. Founded in 2016, MANTL is a privately held company headquartered in New York with the backing of prominent venture capital investors. For more information, visit mantl.com or follow MANTL on LinkedIn.

About Claremont Savings Bank
Founded in 1907 in Claremont, New Hampshire, Claremont Savings Bank is a full-service financial partner offering a variety of deposit products and specialized lending solutions for consumers and businesses. The Bank has branches located in Claremont, Charlestown, and West Lebanon New Hampshire, and Springfield, Vermont. The Bank also offers access to investment and insurance services provided through Claremont Financial Services, a division of Claremont Savings Bank.

Media Contact
Taina Peña Biggs
press@mantl.com

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