MANTL tops USD $40 billion in deposits, saves 1M hours

Alkami said MANTL has surpassed USD $40 billion in deposits raised on its platform and has saved financial institutions more than 1 million hours in account-opening work.

The figures cover account opening across digital and branch channels for US banks and credit unions. MANTL operates within Alkami as a solution team focused on loan and deposit account opening technology.

The announcement offers a fresh measure of MANTL's scale in the competitive market for deposit-gathering tools, as lenders face pressure to attract funding while reducing manual work in branches and back-office operations.

According to Alkami, the average time to open a new retail deposit account across channels through MANTL is under five minutes, while the average time to open a new business deposit account is about 10 minutes.

Those figures compare with much slower industry benchmarks, the company said. Alkami said the retail process is three times faster than the industry average, while business account opening is more than 23 times faster than the benchmark it uses.

On that basis, customers using the platform have collectively saved more than 1 million hours by reducing the time required to open both retail and business deposit accounts, according to Alkami.

Deposit pressure

Deposit growth has become a central issue for many financial institutions as funding costs rise and customers expect a simpler account-opening process, whether on mobile, online, or in person. Banking software providers have increasingly focused on onboarding tools to reduce abandonment rates and lower the amount of staff intervention needed to complete an application.

MANTL's latest figures suggest that speed at the start of the customer relationship is becoming a measurable operating metric as well as a sales one. Faster onboarding can affect branch staffing, compliance reviews, follow-up work, and the time it takes for an account to be ready for use.

Benjamin Conant, Chief Product Officer at Alkami, linked the milestone to the broader operating demands facing banks and credit unions.

"Financial institutions are under increasing pressure to grow deposits, deliver exceptional account holder experiences, and do more with existing resources," said Benjamin Conant, Chief Product Officer at Alkami.

"MANTL has proven that these goals are not mutually exclusive. Our approach is simple: remove friction from account opening, automate manual processes, and create consistent experiences across physical and digital banking channels. By helping institutions raise more than $40 billion in deposits while saving more than 1 million hours on account opening, MANTL enables banks and credit unions to scale deposit growth, improve efficiency, enhance the banker experience, and strengthen relationships with the people, businesses, and communities they serve," Conant said.

Product changes

Alongside the deposit and time-saving milestone, Alkami highlighted a series of updates introduced for MANTL over the past year. The additions focus on branch workflows, internal collaboration, and more complex account-opening tasks that often require additional handling after an account has been booked.

One addition, called Application Comments, lets staff place time-stamped notes directly inside applications. The aim is to keep decisions and communication in one record rather than across separate emails or systems.

Another update, Bulk Account or Share Opening, is designed to allow branch teams to open multiple accounts in a single workflow. Alkami said some institutions have opened as many as 16 accounts within a single application, reducing administrative work for both consumer and business accounts at banks and credit unions.

The company also highlighted Joint Owner Applications, which lets all retail applicants be added at the start of the process. That change is intended to reduce operational complexity and avoid work that would otherwise need to be completed after booking.

For business customers, Multi-Authorised Signer Applications allow branch staff to set signer structures and permissions before an account is booked. Alkami said this can reduce follow-up work and shorten the time before an account is ready for business use.

Broader platform

Alkami describes itself as a digital sales and service platform provider for US banks and credit unions. Its offering combines onboarding, digital banking, data, and marketing tools, with MANTL forming part of that broader effort to manage the customer relationship from application through ongoing engagement.

The figures released do not break out how many financial institutions contributed to the USD $40 billion total, or over what period the 1 million hours were saved. Even so, the milestone provides a benchmark for how software suppliers seek to quantify the commercial impact of onboarding systems in a market where deposits remain a priority funding source.