MANTL Surpasses Major Milestone as Customers Raise $1B of Deposits Per Month
The achievement highlights MANTL’s customer and growth momentum as the company records its best sales quarter to date for new logo bookings
NEW YORK–(BUSINESS WIRE)–MANTL, a leading provider of account origination solutions, today announced the company has reached a new achievement in deposit origination, as customers raise over $1B of deposits per month on the MANTL platform.
“Despite challenging and volatile banking conditions, MANTL customers have demonstrated resilience by quickly fortifying deposits, diversifying revenue streams and improving operational efficiency,” said Nathaniel Harley, co-founder and CEO of MANTL. “Our customers are experiencing massive growth. Surpassing $1B of deposits raised per month is just one way we empower regional and community banks and credit unions to remain agile and competitive.”
This milestone is one of several MANTL achieved in Q3 2022 and is reflective of the company’s own growth trajectory. Most notably, the company recorded its best sales quarter to date for new logo bookings as financial institutions of all sizes turn to MANTL to future-proof their institutions amid ongoing economic uncertainty.
“In addition to having a record sales quarter, MANTL is seeing incredible demand in the market for technology that provides seamless omnichannel deposit origination and transforms the in-branch experience,” continued Harley. “The need to digitize is pressing, and financial institutions are actively seeking partners like MANTL that understand their business goals and share their long-term vision.”
MANTL’s primary focus in 2022 has been market and product expansion to meet industry demand for better banking technology and address critical gaps in the market. MANTL announced a first-of-its-kind Commercial Deposit Origination solution earlier this year to help financial institutions grow and retain key business relationships. Commercial Deposit Origination by MANTL is a 100% omnichannel solution that allows commercial customers to sign up online, in-branch, or in the field and makes onboarding a commercial customer as simple as onboarding a retail customer.
Most recently, MANTL expanded into the credit union market with MANTL for Credit Unions, an omnichannel automated deposit origination solution focused on speed, simplicity and security. MANTL developed this solution alongside Alliant Credit Union, a $17B digital financial institution, and the launch is driving significant interest among credit unions because it is purpose-built with the member experience in mind.
“As we look ahead to 2023, we will continue to listen to our customers and address the demand we are seeing in the market, specifically across the commercial banking and loan origination sectors,” continued Harley. “We are thrilled with the success our customers are having and look forward to making an even bigger impact in the year to come.”
For more information about MANTL or to schedule a demo, please visit: https://www.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’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.
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