MANTL Business Deposit Origination is designed for credit unions to facilitate the opening of business accounts, accommodating small to medium-sized businesses (SMBs) as well as intricate commercial enterprises. This process can be completed in under 10 minutes online and 15 minutes in-branch. MANTL offers businesses the flexibility to open accounts through their preferred service channel, whether via self-service or staff-assisted options. The platform guides staff through the business account opening process with automated workflows that adapt to a credit union’s regulatory and risk protocols, resulting in a reduction of manual reviews for certain customers by over 50%.
MANTL provides consistent integrations with current credit union systems, encompassing all major core banking platforms. MANTL offers important features that simplify and automate the processes for opening business accounts, including:
One front door for deposit origination: open business accounts securely on any device with real-time syncing, offering online, banker-led, or hybrid experiences and facilitating secure document collection.
Automated KYB/KYC workflows: increase employee efficiency and conversion while reducing fraud through configurable decisioning and adaptive due diligence.
Adaptive due diligence: MANTL’s technology customises application questions to suit each business's needs.
Automated memberization: streamline membership verification and share collection using configurable rules.
Comprehensive business products: cater to diverse business member needs with various offerings and ownership structures.
Helpful staff guide: A dynamic checklist and automated workflows prompt necessary data and documents for compliance.
Digitized beneficial ownership: collect and manage beneficial ownership digitally, eliminating paper forms.
Simplified EDD: the system flags upgraded due diligence needs with specific tags for requirements.
Officials from MANTL stated that bank customers have used the Business Deposit Origination platform for two years, resulting in up to a 60% rise in business account openings and a 75% decrease in document requests.
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