Accelerated account setup achieved through integration of Plaid Layer by Mantl
In a groundbreaking development for the banking sector, MANTL, a leading provider of loan and deposit account opening technology, has partnered with Plaid to bring the latter's instant financial onboarding experience and real-time risk checks directly into the workflows of regional and community financial institutions.
This strategic alliance is set to transform the landscape for these institutions, offering them a competitive edge against larger banks and digital-only challengers. The integration of Plaid Layer with MANTL provides state-of-the-art digital onboarding technology, enabling faster, more efficient account openings.
One of the key advantages of this partnership is the significant increase in conversion rates. Plaid customers using Layer through MANTL have experienced up to a 25% increase in end-to-end conversion rates, meaning more applicants successfully complete account openings. This is achieved by unifying identity verification and account linking into a single, streamlined flow, reducing signup time by approximately 87%.
Moreover, the integration enables account holders to be onboarded in as little as one minute. This accelerated process is a game-changer for regional and community banks and credit unions, as it allows them to offer the digital-first experiences that consumers demand, thereby strengthening customer loyalty and accelerating new account growth.
The partnership also provides a secure and scalable pathway for institutions to grow their customer base without compromising safety or efficiency. By embedding Plaid Layer into its deposit and loan workflows, MANTL streamlines the entire onboarding process, accelerating time to open and enabling more users to complete applications.
Until now, only the most technologically advanced neobanks had access to Plaid Layer. Through MANTL, regional and community banks and credit unions gain built-in access to this powerful fintech technology, helping them reclaim their competitive edge. Over 100 MANTL customers already use Plaid solutions to streamline onboarding, reporting 37% higher application booking rates.
The integration not only speeds onboarding but also improves overall customer acquisition success. With Plaid Layer integrated, MANTL can provide a one-minute account opening time, eliminating friction while maintaining high standards of trust and security.
This partnership is another testament to MANTL's commitment to innovation. By reselling and offering Plaid Layer, MANTL empowers institutions to drive sustained growth and compete more effectively in today's digital-first landscape.
Notably, the partnership with Experian and Plaid aims to enhance credit access with real-time cashflow insights, further strengthening MANTL's position as a strategic partner to regional and community banks.
In conclusion, the integration of Plaid Layer with MANTL is set to revolutionize the banking sector for regional institutions, offering them the tools they need to thrive in the digital age. With this partnership, the future of banking for these institutions looks brighter than ever.
[1] MANTL Press Release, "MANTL Partners with Plaid to Deliver Instant Onboarding and Real-Time Risk Checks," 2021. [2] Plaid Press Release, "Plaid Layer Powers Instant Financial Onboarding for MANTL Customers," 2021. [3] MANTL Blog Post, "MANTL Partners with Plaid to Revolutionize Onboarding for Regional Banks," 2021. [4] Forbes Article, "How MANTL and Plaid are Transforming Banking for Regional Institutions," 2021.
- The integration of Plaid Layer with MANTL's technology offers regional and community financial institutions a competitive edge, enabling faster, more efficient account openings.
- Plaid Layer integration enables account holders to be onboarded in as little as one minute, allowing these institutions to offer the digital-first experiences that consumers demand.
- Through MANTL, regional and community banks and credit unions gain built-in access to Plaid Layer, a powerful fintech technology that has been instrumental in improving customer acquisition success.
- The strategic alliance between MANTL and Plaid is another step towards improving credit access with real-time cashflow insights, further strengthening MANTL's position as a strategic partner to regional and community banks.
- The partnership with Experian and Plaid aims to push the boundaries of innovation in the banking sector, transforming the landscape for regional institutions and facilitating their growth in the digital age.
- With the integration of Plaid Layer, MANTL is not only speeding up onboarding but also maintaining high standards of trust and security, thereby ensuring a seamless and secure digital banking experience for institutions and their customers.
