NEW YORK, NY – March 17, 2022 – MANTL, a leading digital account opening solution for banks and credit unions, today announced that its business deposit origination solution won the “Best Banking Infrastructure Software” award in the 2022 FinTech Breakthrough Awards. Business Account Opening by MANTL was recognized for its ability to help banks significantly improve operational efficiency, reduce the time it takes to open a business account and retain and grow business relationships.
Built from scratch to eliminate the inefficiencies of traditional onboarding, Business Account Opening by MANTL is a first-of-its-kind deposit origination solution that reimagines account opening for businesses of all sizes and complexities across every channel—virtually, in-branch and in the field. The platform is 100% digital and has been proven to automate up to 97% of account application decisions, so banks can open more accounts, faster. Unlike legacy business account opening, the MANTL platform is fast, intuitive and transparent for businesses and bank employees alike.
“We created this solution because customers and prospects asked MANTL to address an urgent need in the market for better business account opening,” said Nathaniel Harley, co-founder and CEO of MANTL. “While taking into consideration the unique challenges of business onboarding, our solution makes opening a business account as streamlined as opening a consumer account. This award is a testament to our dedication to building a first-of-its-kind product from the ground up.”
Business Account Opening by MANTL integrates with all major core banking systems. The platform’s self-serve user experience is streamlined enough for small businesses to open their own accounts without intervention. The banker-facing console enables employees to engage external and internal stakeholders where they are, using whatever channel they prefer, precisely when their input is needed. MANTL applies proprietary adaptive due diligence technology to automate customer and Enhanced Due Diligence (EDD), no matter how complex or high-risk the business.
The FinTech Breakthrough Awards is the premier awards program that recognizes FinTech innovators, leaders and visionaries from around the world that stand out in the crowded fintech market. The 2022 FinTech Breakthrough Award program attracted nearly 4,000 nominations from across the globe. This recognition is the latest in a series of award wins for MANTL. Most recently, MANTL was named the “Best Back-Office/Core Service” solution in the 2021 Finovate awards; recognized as one of the Best Places to Work in New York City for 2021 by Crain’s New York Business; and a 100 Best Midsize Companies to Work for in NYC in 2022 by BuiltIn.
For more information or to schedule a demo, please visit Business Account Opening by MANTL.
MANTL is a banking technology firm offering account opening software that empowers banks and credit unions to open deposit accounts from anywhere, on any device and at any time. Consumer Account Opening by MANTL is among the fastest and most performant solutions on the market: on average, people can open accounts through the white-labeled software in less than three minutes. The system automates application decisioning for over 90% of cases, all while reducing fraud by over 60%. Business Account Opening by MANTL reimagines account opening for businesses of all sizes to improve operational efficiency, agility and customer satisfaction. MANTL’s customers have raised billions in core deposits to date. 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.
Jackie Daane, Senior PR Manager
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