Alkami Acquires Fintech Mantl for $400M: Boosting Digital Banking for Community Institutions
Alkami buys Mantl for $400M, enhancing digital account opening for community banks and credit unions.
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Alkami Acquires Fintech Mantl for $400M: Boosting Digital Banking for Community Institutions
Digital banking services provider Alkami Technology is acquiring Mantl, which has been described as “the Shopify of account opening,” for $400 million. Image Credits:NatalyaBurova / Getty Images Image Credits:NatalyaBurova / Getty Images Mantl, founded in 2016 by Nathaniel Harley and Benjamin Conant, developed software to make it easier for people to open accounts digitally at community banks and credit unions. The end goal is that those institutions can increase deposits and ultimately, profits. The deal is expected to close by the end of March. Alkami said via email that the purchase of Mantl “will better allow financial institutions to onboard, engage and grow their account holder bases and attain a sustainable competitive edge.” Mantl will operate as a distinct business unit directly reporting to current Mantl CEO Harley, who will directly report to Alkam…