City First Bank Partners with MANTL to Advance Its Nationwide Growth Strategy
With MANTL, City First Bank will be able to automate more than 85% of application decisions.
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Rhea-AI Summary
Alkami Technology (ALKT) announced that City First Bank has selected MANTL Onboarding & Account Opening to modernize retail account opening. The Washington, D.C.-based bank has gone live with MANTL and will use its full suite across physical and digital banking channels.
City First Bank plans to use the technology to improve relationship managers' workflows and support expansion beyond its traditional footprint. Alkami expects the account opening platform to support the bank's nationwide customer acquisition and deposit growth.
Positive
- Minor pointCity First Bank has gone live with MANTL for retail account opening across physical and digital channels.
Negative
- None.
Key Figures
- Application decisions automated
- More than 85%
- MANTL account-opening capabilities described for City First Bank
Previous Partnership Reports
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FVSBank's MANTL rollout cited sub-10-minute opening and automation of over 85% of application decisions.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
know your customer (kyc) regulatory
anti-money laundering (aml) regulatory
bank secrecy act (bsa) regulatory
community development financial institution (cdfi) regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
D.C.-based bank goes live with MANTL to expand customer acquisition, strengthen relationship banking, and support long-term growth
City First Bank will leverage the full omnichannel suite of MANTL solutions to create a more seamless account opening experience, equip relationship managers with more efficient workflows, and establish a scalable foundation for expanding beyond its traditional footprint. By implementing MANTL Retail Account Opening, the bank is investing in technology that supports sustainable growth while continuing to deliver the level of service its customers expect.
"At City First Bank, making banking accessible starts at the front door. Today that door is digital. Partnership with MANTL means our community can open an account in minutes from anywhere, without encountering obstacles," said Brian Argrett, president and chief executive officer at City First Bank. "It is a simple change that makes a huge difference in helping people save, grow, and build their financial future."
City First continues to lead with its mission at the forefront. As a Community Development Financial Institution (CDFI), Minority Depository Institution (MDI), Certified B Corporation, Public Benefit Corporation (PBC) and member of the National Bankers Association, City First Bank is reinforcing its commitment to investing in innovative technology like MANTL that expands financial access for the communities it serves throughout
As the bank continues expanding its reach, MANTL will help City First Bank reach more customers nationwide by delivering a modern account opening experience that preserves the personalized service that differentiates the institution.
"Today's financial institutions need technology that helps them grow relationships, expand into new markets, and create omnichannel experiences that differentiate their institution," said Benjamin Conant, chief product officer at Alkami. "City First Bank has a clear vision for growth while remaining deeply committed to its mission and the communities it serves. We're excited to partner with their team as they execute that vision with an omnichannel account opening experience that supports deposit growth, strengthens relationship banking, and positions the bank for long-term success."
With MANTL, City First Bank will be able to automate more than
To learn how MANTL can transform your account opening process and empower your team, or to schedule a demo, click here.
To learn more about Anticipatory Banking and the Alkami Digital Sales & Service Platform, visit here.
About Alkami
Alkami provides a digital sales and service platform for
About City First Bank
City First Bank offers a variety of commercial real estate loan products, services, and depository accounts that support investments in affordable housing, small businesses, and nonprofit community facilities located within underinvested neighborhoods. City First Bank is a Community Development Financial Institution, Certified B Corp, and a member of the Global Alliance of Banking on Values. The Bank and the City First network of nonprofits, City First Enterprises, Homes By CFE, and City First Foundation, represent the City First branded family of community development financial institutions, which offer a robust lending and deposit platform.
Media Relations Contacts
Vested
alkami@fullyvested.com
Marla Pieton
marla.pieton@alkami.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/city-first-bank-partners-with-mantl-to-advance-its-nationwide-growth-strategy-302907424.html
SOURCE Alkami Technology, Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What MANTL platform did City First Bank select from Alkami (ALKT)?
City First Bank selected MANTL Onboarding & Account Opening to modernize retail account opening across its physical and digital banking channels. The bank will use the full suite to support its planned expansion beyond its traditional footprint.
What will City First Bank be able to automate with MANTL?
City First Bank will be able to automate more than 85% of application decisions with MANTL. These include identity verification, anti-money-laundering and Bank Secrecy Act checks, as well as product setup, funding and recording accounts in the bank's core system.