NEW YORK, Sept. 23, 2021 /PRNewswire/ -- MANTL, a leading digital account opening solution for community banks and credit unions, announced that it was named the Best Back-Office/Core Services Solution award winner in the 2021 Finovate Awards. The company was recognized for enhancing legacy core banking systems, without needing to replace existing infrastructure, and offering a best-in-class online account opening experience.
The Best Back-Office/Core Services Solution award is given to the fintech or tech company that enables banks and FIs to seamlessly manage their day-to-day operations while also giving them the opportunity to engage with new tech solutions and establish new products and processes. MANTL facilitates real-time integrations with all major core banking systems. Once integrated, MANTL enhances cores by functioning as a "core wrapper" that enables future software to read and write to the core through MANTL's API. Through its flagship account opening software, MANTL has optimized the consumer onboarding experience and helped community institutions — many of which are competing online for the first time — establish efficient and profitable digital operations. As a result, MANTL customers onboard hundreds of thousands of new customers and raise billions of dollars in core deposits each year.
"This award is a testament to the superior product we've built and the outcomes we are producing for our partners," said Nathaniel Harley, co-founder and CEO of MANTL. "We believe the strategic deployment of technology will define the competitive banking landscape for decades to come and MANTL is proving that community banks and credit unions can compete online with the right tools."
Founded in 2016, MANTL's omni-channel platform enables people to open accounts from anywhere, on any device and at any time. The solution is among the fastest and most performant on the market: the average time to open an account through MANTL's white-labeled platform is 2 minutes 37 seconds. The system automates application decisioning for over 90% of cases, all while reducing fraud by over 60%. This results in deposit growth that's typically 4x faster than other solutions on the market and up to 10x more cost-effective than building a new branch.
The Finovate Awards, now in their third year, honor 25 fintech companies and professionals for their ingenuity in driving innovation forward and bringing new ideas to life. This recognition highlights MANTL's ongoing industry momentum. MANTL announced a $40M Series B funding round in April, led by Alphabet's independent growth fund CapitalG, and is on track to double headcount for a second consecutive year in 2021.
To learn more about MANTL or schedule a demo, please visit www.mantl.com.
MANTL is a banking technology firm offering the leading account opening software. Our platform empowers regional and community banks and credit unions to grow up to 78% faster. These institutions play a critical role in our economy and we're passionate about preserving that. Founded in 2016, MANTL's customers have raised billions in core deposits to date. MANTL is a privately held company headquartered in New York with the backing of prominent venture capital investors. For more information, visit www.mantl.com.
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