How to make account opening faster, simpler, and safer
Deliver a frictionless, high-value solution for the best member experience.
Alliant Credit Union has always been a disruptor.
“We’re the original challenger institution,” Alliant Chief Digital and Marketing Officer Sumeet Grover says. “We’ve had a nationwide presence for more than 85 years. We went 100% digital long before COVID. And we’re always anticipating what’s next so we can lead the way instead of reacting to what everyone else is doing.”
Content Sponsored By:
The key to Alliant’s success? The leadership team is laser-focused on creating and maintaining the best possible experience for more than 700,000 members from coast to coast.
“Before MANTL, we had an online deposit origination solution in place,” explains Grover. “We were well ahead of the curve. But we knew there was room for improvement and modernization.”
To remain one step ahead of the competition, the Alliant team focused on optimizing three key aspects of the member experience at the point of origination: speed, simplicity, and security.
Working with MANTL to develop a next-level solution purpose-built for credit unions
Nothing on the market could meet Alliant’s standards for a more streamlined approach to memberization. So Alliant decided to partner with MANTL to build the ideal deposit origination solution from scratch.
Today, the MANTL platform serves as Alliant’s digital front door, delivering what Grover calls a “wow factor” for new and existing members alike.
The MANTL solution was a gamechanger for Alliant in many ways, including:
- Eligibility. Before MANTL, eligibility verification often created confusion in the onboarding process. As a result, many prospects required assistance over the phone — or abandoned their applications altogether. MANTL solved the problem with an intuitive interface, built from the ground up to meet Alliant’s unique eligibility requirements, that uses machine learning to collect and verify the information necessary to memberize applicants in real time.
- Funding. MANTL recommends mandatory funding within the application flow as a best practice. Because the platform integrates seamlessly with Plaid, new members can fund their accounts in just a few clicks.
- Customization. MANTL’s customizable platform gives Alliant the flexibility to make real-time changes to know your member decisioning.
Delivering a frictionless, cost-effective, high-value solution for the best possible member experience
With 100% of accounts funded upon application, Alliant has achieved an average initial funding amount of more than $1,000—a major improvement over its previous solution. “Now that funding is built into the process, we’re seeing improvements both in average initial funding and in average account balances.”
In addition to improving Alliant’s application conversion rate by 60% over its previous solution, MANTL has also reduced account opening time by more than 30%.
Going forward, the Alliant team will keep on finding new ways to take member onboarding to the next level. “The MANTL team is working right alongside us to meet our objectives,” says Grover. “They’re true partners. They understand our business model. And they offer the kind of expertise and insight that will help us innovate and grow in the years to come.”
Nathaniel Harley is the co-founder and CEO of MANTL.