Lathrup, Mich. – Oct. 3, 2023 – Michigan First Credit Union, a $1.5B credit union headquartered in Michigan, today announced a partnership with MANTL, a leading provider of account origination solutions, to overhaul the account opening process across its 29-branch network and launch online account opening for the first time. This partnership will allow Michigan First members to seamlessly open a new account on any banking channel, at any time, and demonstrates Michigan First’s commitment to providing its members with the best digital banking experiences.
Michigan First 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 three key aspects of the member experience at the point of origination – speed, simplicity and security – to make the account opening experience simple for members. New applicants can originate checking, savings, money market, certificate accounts, and minor accounts in under three minutes and existing Michigan First members can open a new share account in under one minute.
“At Michigan First, we strive to deliver frictionless digital experiences to our members,” said Jerry Bettens, Chief Information Officer at Michigan First. “This partnership gives our members access to the best digital banking experiences and ensures continuity in their account opening process on whatever channel they prefer to open an account. Transforming our branch network to digitize and improve the in-branch account opening experience will allow our team members to better serve our members, build lasting relationships and understand their unique banking needs. Launching online account opening for the first time empowers our members to bank how and where they want to, and we are thrilled to deliver a state-of-the-art digital account opening experience.”
Michigan First 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. Michigan First operates on the Corelation-Keystone core and can book and fund new member accounts directly to the core in real-time with the MANTL integration.
“Michigan First is at the forefront of the credit union industry when it comes to digitizing its in-branch account opening experience,” said David Carlson, Head of Sales at MANTL. “By prioritizing its members’ experience across all banking channels, Michigan First is setting a great example for the industry and positioning itself as a banking leader in Michigan. We are thrilled to partner with them on this transformation journey.”
For more information on MANTL or to schedule a demo, 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 Michigan First Credit Union
Founded in 1926, Michigan First Credit Union delivers world-class service to more than 185,000 members at 29 branches throughout Michigan. The Credit Union offers expanded financial solutions for every life state through its Michigan First Mortgage and Michigan First Insurance Agency divisions and seeks to positively transform lives with the Michigan First Foundation. Currently the Credit Union possesses more than $1.5 billion in assets. To learn more about Michigan First Credit Union and its award-winning team, visit MichiganFirst.com
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