EFCU Partners with MANTL to Enhance its Online Account Opening Experience

The Louisiana-based credit union will overhaul its online account opening process to provide a superior deposit origination journey and allow current members to open a new share account in under one minute

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Baton Rouge, La. – Nov. 30, 2023 – EFCU, a $1 billion credit union headquartered in Louisiana, today announced a partnership with MANTL, a leading provider of account origination solutions, to enhance its online account opening process and improve member experience. This partnership will allow EFCU Financial to deepen its relationship with current members and demonstrates EFCU Financial’s commitment to providing its members with best-in-class digital banking experiences.

EFCU Financial will leverage MANTL for Credit Unions, an omnichannel deposit origination platform that is purpose-built for credit unions with the member experience in mind. MANTL optimizes deposit account applications around three core principles – speed, simplicity and security – to ensure that credit unions are not trading their member experience for their back-office controls. As a result, new applicants can open checking, savings, CD, money market and minor accounts in under three minutes on the MANTL system. Once live, existing EFCU Financial members will be able to open a new share account in under one minute. 

“As EFCU Financial continues to focus on new member growth and the member experience in 2024, we knew we needed to invest in best-of-breed technology,” said Tom Kuslikis, CEO at EFCU Financial. “As we have marched past the $1 billion-mark, digital expansion has become a greater priority. We need to equip our team with the right technology in order to meet our members where they want to be met, and provide them with the best account opening experience possible.”

EFCU Financial 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. 

“As the third largest credit union in Louisiana, EFCU Financial already demonstrates a commitment to serving their members. MANTL is excited to partner with EFCU Financial and help them grow their member base throughout Louisiana,” said David Carlson, Head of Sales at MANTL. “EFCU Financial will now be able to extend their exceptional member experience to digital channels, and provide a seamless deposit origination process from its very first touchpoint.”

For more information on EFCU and current deposit offerings, please visit: https://www.efcufinancial.org/  

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

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.

About EFCU Financial
EFCU Financial is a full-service credit union based in Louisiana serving the nine parish Baton Rouge Metropolitan Area. Founded in 1934 as the 13th charter credit union in the United States, EFCU Financial currently has over 64,000 members and more than $1 billion in total assets. EFCU Financial is the second largest credit union in Baton Rouge and the third largest in the state, and is ranked number one for member value in Louisiana by Callahan and Associates and as a 5-star financial institution by Bauer Financial. For more information, visit efcufinancial.org.

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