OGDEN, Utah, Nov. 23, 2020 – Bank of Utah announced the launch of a new advanced digital account opening platform powered by MANTL, that will give its personal banking customers a faster and more efficient online banking experience. Customers can now open the bank’s EZ Checking, a new Hybrid checking account, the popular iSave savings account and CDs online in just three minutes from their mobile phone, tablet or desktop. Bank of Utah is the first community bank in the Utah market to partner with MANTL.
“We continually study our customers’ needs and banking preferences and watch industry trends to ensure we’re providing exceptional banking experiences,” said Bank of Utah President Douglas L. DeFries. “A GoBankingRates Banking Report showed that 50 percent of the U.S. population preferred banking digitally in 2019, which is when we began our process to grow our digital capabilities. Fast forward to 2020 and COVID-19 has only expedited the digital adoption that we knew was already occurring.”
“After doing our due diligence, we began investigating different digital onboarding platforms and were impressed with MANTL and their data- and insight-driven methods,” explained DeFries. “MANTL combines the latest technologies with industry best practices to help community banks like ours provide digital banking experiences for our customers that outshine the big banks.”
“This pandemic has reminded us of how important community banks are to our economy and local communities. People want to support their local institutions and they need simple and safe ways to do that online,” explained MANTL CEO and Co-Founder Nathaniel Harley. “Together with Bank of Utah, we have reimagined the account opening process to emphasize speed, security and accessibility and make it easier than ever for people to open a bank account.”
MANTL's white-labeled software is now integrated directly with Bank of Utah’s robust existing infrastructure and not only speeds up the personal checking, savings and CD account onboarding process, but adds an extra layer of security provided by Alloy, a digital identity operating system. All new account applications are run seamlessly through Alloy to protect both customers and the bank from fraud.
For more information about MANTL, visit www.mantl.com.