Mantl

Mantl develops cloud-based enterprise software, specifically an account origination platform, designed for financial institutions. This platform enables banks and credit unions to streamline the process of opening deposit and loan accounts across various digital channels, serving as a customer-centric "outer core ecosystem" to modernize their operations and improve efficiency.

The company was founded in 2016 by CEO Nathaniel Harley and CTO Benjamin Conant. Their insight stemmed from recognizing the pressing need for regional banks and credit unions to adopt modern, agile technology, allowing these institutions to compete effectively, grow, and enhance their offerings in a rapidly evolving financial landscape.

Mantl primarily serves banks and credit unions, providing them with robust tools to optimize account opening and customer acquisition. The company's vision centers on empowering these financial institutions to modernize their infrastructure, simplify complex banking processes, and ultimately expand their reach and customer base through efficient, digitally-driven solutions.

High-Level Overview

MANTL is an enterprise SaaS company that provides omnichannel account origination software for banks and credit unions, enabling seamless deposit and loan account openings across digital and in-branch channels.[1][3][4] It serves traditional financial institutions struggling with legacy technology, helping them modernize operations, raise core deposits (over $1B monthly), and open over 1M new accounts while improving customer experiences and reducing fraud through automated KYC/KYB workflows.[2][3][5] The platform solves inefficiencies in account opening by bridging online and offline processes, fueling growth for community banks and credit unions amid rising demand for fintech-like digital banking.[3][4]

Founded in 2016 in New York, MANTL raised $96.22M before being acquired by Alkami Technology in February 2025, positioning it as a key player in financial services tech with 100+ customers and strong momentum in deposit growth.[1][2][3]

Origin Story

MANTL was founded in 2016 in New York, New York, initially as a challenger bank called MyFin before pivoting to partner with traditional banks after an "aha" moment revealed the opportunity to deploy its technology at scale.[1][2] The founders recognized that U.S. banks and credit unions spend nearly $100B annually on technology yet face outdated legacy systems, frustrating consumers expecting digital-first experiences and hindering institutional growth.[3] This insight drove the shift to an enterprise SaaS model focused on deposit origination, quickly gaining traction by helping community institutions compete online and raise billions in core deposits yearly.[2][3]

Early pivotal moments included building an omnichannel platform that unifies in-person and online account opening, attracting over 100 customers and powering 1M+ new accounts as institutions adopted it to overcome legacy challenges.[3]

Core Differentiators

• Omnichannel Account Origination: Bridges online, in-branch, and hybrid channels with seamless data flow, automated workflows for data/document collection, and support for consumer/commercial accounts of any complexity.[3][4][5]
• Fraud Mitigation and Compliance: Configurable KYC/KYB decision waterfalls, tagging for enhanced due diligence (EDD), timestamped audit trails, and industry-leading controls to minimize risk while streamlining approvals.[5]
• Growth and Efficiency Tools: Enables $1B+ monthly deposits, cross-sells, branch optimization, and digital brand launches; integrates with tech stacks like Plaid (first fintech to offer as an Alkami solution post-acquisition).[3][4][7]
• Superior User Experiences: Fintech-like digital interfaces for customers/members, intuitive tools for employees, and actionable analytics for performance/ROI measurement, reducing manual tasks and boosting satisfaction.[2][5]

These features set MANTL apart from competitors like Abrigo, BAFS, and Mambu by emphasizing white-labeled, scalable deposit origination tailored to U.S. community banks/credit unions.[1][5]

Role in the Broader Tech Landscape

MANTL rides the trend of digital transformation in banking, where legacy systems fail to meet consumer demands for seamless, omnichannel experiences amid rising online competition from fintechs.[2][3] Timing is ideal as U.S. financial institutions invest heavily ($100B/year) to modernize, reduce wholesale funding reliance, and expand digitally without physical branches—especially post-2025 acquisition by Alkami, enhancing unified origination amid consolidations.[1][3][7]

Market forces like fraud proliferation, regulatory pressures, and deposit growth needs favor MANTL, influencing the ecosystem by empowering regional players to innovate, acquire out-of-market accounts, and deliver equitable access—proving community institutions can lead global banking evolution.[2][3][5]

Quick Take & Future Outlook

Post-acquisition, MANTL will likely deepen Alkami integrations like Plaid for asset verification, accelerating loan/deposit origination and targeting explosive growth in commercial banking.[1][7] Trends such as AI-driven KYC, composable banking, and digital-only brands will shape its path, potentially expanding to more verticals while community banks leverage it against big tech entrants.[4][5]

Its influence may evolve from niche SaaS to core infrastructure for modern banking, sustaining deposit momentum and ecosystem equity as institutions prioritize scalable, fraud-resilient tech—reinforcing its role as a growth engine from challenger origins to enterprise powerhouse.[2][3]