State Employees' Credit Union of Maryland Partners with MANTL to Give New and Existing Business and Retail Members a Seamless Account Opening Experience

Rhea-AI Summary

MANTL, an Alkami solution team, has partnered with State Employees' Credit Union of Maryland (SECU), Maryland's largest credit union with $5.7B in assets, to modernize its account opening processes. The partnership will implement MANTL's Consumer and Business Deposit Origination solutions across SECU's 23 financial centers and digital channels. The integration will enable members to open accounts in under 5 minutes online and 10 minutes in-branch, with over 85% of application decisions automated through KYC, AML, and BSA processes. SECU, already utilizing Alkami's Digital Banking Platform, will benefit from the combined capabilities to enhance user experience and streamline operations. The implementation aims to drive deposit growth, improve operational efficiency, and provide seamless account opening experiences for both retail and business members across all banking channels.

Positive

• Automation of over 85% of application decisions including KYC, AML, and BSA processes
• Significant reduction in account opening time to under 5 minutes online and 10 minutes in-branch
• Integration with existing Alkami Digital Banking Platform for enhanced operational efficiency
• Expansion of digital capabilities across all 23 financial centers and online channels

Negative

• None.

Insights

FinTech Analyst

Alkami expands its relationship with SECU Maryland through MANTL, strengthening its position in the credit union market with comprehensive account opening solutions.

This partnership between MANTL (an Alkami solution) and the $5.7 billion State Employees' Credit Union of Maryland represents a significant client win that expands Alkami's relationship with this large credit union. SECU was already utilizing Alkami's Digital Banking Platform and is now adopting MANTL's account origination technology to create an integrated front-end experience across channels.

The implementation spans both consumer and business deposit origination solutions, creating multiple revenue streams from this single client. The cross-selling success demonstrates Alkami's ability to deepen relationships with existing clients, which is typically more cost-effective than acquiring new ones. By automating 85% of application decisions—including critical compliance functions like KYC, AML, and BSA—this deployment should deliver measurable efficiency improvements for SECU while generating recurring software revenue for Alkami.

This deal exemplifies Alkami's strategy of building a comprehensive digital sales and service platform that covers the entire account holder lifecycle. By connecting digital banking with account origination, Alkami creates a competitive advantage against point-solution providers. The credit union market remains a key growth segment for banking technology vendors, as these institutions typically lack the resources to build proprietary systems yet require sophisticated solutions to compete with larger banks.

For investors, this announcement validates Alkami's cross-selling capabilities and demonstrates continued momentum in securing contracts with substantial financial institutions, reinforcing its position as a leading technology provider to mid-sized financial institutions.

Maryland's largest credit union will modernize its account opening process across all banking channels, including its 23-branch network 

PLANO, Texas, June 17, 2025 /PRNewswire/ -- MANTL, an Alkami solution team and leading provider of account origination technology, today announced a partnership with State Employees' Credit Union of Maryland (SECU), a $5.7B credit union with 23 financial centers across Maryland, to enhance its in-branch and online account opening processes for businesses and retail members. This partnership will allow SECU to seamlessly open new member accounts on any banking channel, at any time, and demonstrates SECU's commitment to giving its business members, retail members, and employees the best possible banking experiences.

SECU is also a customer of Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading provider of cloud-based digital banking solutions for financial institutions in the U.S. SECU leverages Alkami's Digital Banking Platform to provide a seamless, innovative, and user-friendly digital banking experience. SECU will benefit from the combined power of MANTL and Alkami—two solutions that are part of the digital sales and service platform—to drive growth, provide a best-in-class user experience, and streamline operations throughout the entire account holder lifecycle. This position brings multiple use cases for SECU to deliver a cohesive, end-to-end experience that delivers greater customer value and increased revenue.

SECU will leverage Consumer Deposit Origination by MANTL to transform the online account opening experience and streamline the in-branch experience for members and employees. With MANTL, SECU will remove friction from its current account opening process, empowering members to open a new deposit account, typically in less than 5 minutes, and with a superior account opening experience (and typically within 10 minutes for in-branch experiences). By serving a wider audience of consumers across digital channels and providing a simple and intuitive account opening experience, SECU will drive deposit and new member growth.

Business Deposit Origination by MANTL will allow SECU to better attract, serve, and deepen relationships with businesses across its target markets. Businesses of all sizes will be able to seamlessly and securely open a new business account on any device or any channel, including online, on a mobile application (app), in-branch, or in the field. Adaptive workflows and automated, real-time decisioning on the MANTL platform will reduce friction in the application process and keep operations streamlined, so SECU can better focus on serving the needs of its business members.

"At SECU, we pride ourselves on our commitment to cutting-edge digital solutions for our members and employees. Credit unions are built on a foundation of putting people first, and we look forward to reimagining our account processes with the help of innovative partners like MANTL," said Jason Reimer, executive vice president, chief infrastructure and experience officer at SECU. "SECU members across Maryland will be able to utilize sensible, real-time digital solutions that seamlessly improve member experiences in our financial centers and online."

By integrating MANTL with its core processing system, SECU will now be able to automate over 85% of application decisions, including Know Your Customer (KYC), Anti-Money Laundering (AML), Bank Secrecy Act (BSA), product service ordering, funding, and core booking, to create efficiencies and keep manual processes to a minimum.

"MANTL is thrilled to partner with the largest credit union in Maryland to modernize its retail and business account opening process across all of its banking channels," said Nathaniel Harley, co-founder and president at MANTL. "By empowering both members and employees with faster, more intuitive experiences, SECU is demonstrating a bold commitment to innovation and banking accessibility that aligns with MANTL's mission to transform banking and strengthen communities."

For more information on SECU and to view current deposit offerings, visit here. 

For more information on MANTL or to schedule a demo, visit here.

About MANTL
MANTL is an Alkami solution team that offers unified account origination technology, empowering banks and credit unions to open loan and deposit accounts seamlessly on any banking channel in real time. MANTL Deposit Origination is among the fastest and most performant solutions on the market; consumers can open a new deposit account in under five minutes, businesses can open a new deposit account in under 10 minutes, and MANTL customers raise billions in core deposits. MANTL Loan Origination simplifies each step in the loan process, automating up to 100% of loan application decisions to ensure an intuitive, feature-rich experience from personal loans to business financing. Founded in 2016, MANTL was acquired in March 2025 by Alkami Technology, Inc. (Nasdaq: ALKT), a leading cloud-based digital banking solutions provider for financial institutions in the U.S. For more information, visit mantl.com or follow MANTL on LinkedIn.

About SECU
SECU ("see-Q"), Maryland's largest state-chartered credit union, serves over 250,000 members via 23 Financial Centers across the state, including 21 Financial Centers, 1 Digital Center, and a Virtual Financial Center. As a member-owned, not-for-profit organization, SECU puts its members first. Membership is open to all of Maryland, with over 1,900 ways to join. You may be eligible through a family member, work, the college you attended, state employment, an organization you are affiliated with, or simply through a one-time donation to SECU's partner, the SECU MD Foundation. Headquartered in Linthicum, Md., SECU offers convenient access to over 50,000 free ATMs through the CO-OP network, as well as access to expert financial planners. With more than $5 billion in assets, SECU ranks among the top 60 credit unions nationwide based on total assets in the U.S. Insured by NCUA. For more information, visit www.secumd.org or follow SECU on Facebook, Instagram, LinkedIn and TikTok.

Media Relations Contacts

Vested
alkami@fullyvested.com 

Marla Pieton
marla.pieton@alkami.com 

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SOURCE Alkami Technology, Inc.

FAQ

What improvements will SECU members see with MANTL's account opening system?

Members will experience faster account opening times (under 5 minutes online, 10 minutes in-branch), automated decisions, and seamless integration across all banking channels

How many branches will be affected by SECU's partnership with MANTL?

The partnership will modernize account opening across all 23 SECU financial centers in Maryland

What percentage of application decisions will be automated through MANTL at SECU?

Over 85% of application decisions will be automated, including KYC, AML, BSA, product service ordering, funding, and core booking

How large is SECU Maryland and what is its current technology infrastructure?

SECU is Maryland's largest credit union with $5.7B in assets and currently uses Alkami's Digital Banking Platform for its digital banking services

What types of accounts can be opened through MANTL's system at SECU?

Both retail consumer and business deposit accounts can be opened through MANTL's system, either online, through mobile app, in-branch, or in the field