FVSBank partners with MANTL to speed account opening

FVSBank has partnered with MANTL to modernise deposit account opening for retail and business customers. The agreement covers digital and in-branch account opening across the Wisconsin Mutual Bank.

Based in Fond du Lac, FVSBank will use MANTL's onboarding and account-opening software to create a single process for customers opening deposit accounts, whether online or in person. The change is intended to speed up account opening for consumers and businesses while reducing manual work for staff.

Under the rollout, retail customers will be able to open deposit accounts online in under five minutes and in a branch in less than 10 minutes. Most business accounts will be opened online in under 10 minutes, while branch applications will follow a simplified process.

FVSBank is also extending digital access to its full range of deposit products, including speciality accounts. Customers will be able to apply for all deposit account types through digital channels rather than visiting a branch for some products.

The partnership includes an integration between MANTL and the bank's core systems. The companies said this will enable real-time account opening and simplify back-office work tied to onboarding and account setup.

MANTL, which operates as an Alkami solution team, said the system can automate more than 85% of application decisions, including Know Your Customer, Anti-Money Laundering, and Bank Secrecy Act checks, as well as product setup, funding, and core booking.

Account opening has become a key competitive battleground for banks as customers expect consumer-style digital journeys and faster processing times. Smaller regional and mutual institutions have been under pressure to meet the online account-opening standards set by larger banks and financial technology firms while maintaining branch service for customers who prefer in-person interactions.

FVSBank's approach reflects that balance. Rather than separating digital and branch journeys, the bank plans to use a single system across both channels, ensuring customers and staff follow a consistent process regardless of where an application begins.

Ryan Galligan, Chief Operations Officer at FVSBank, said the bank wanted to make opening an account easier for customers and less administratively burdensome for employees.

"Today's customers expect banking to be simple, fast, and available on their terms," Galligan said.

"With MANTL, we're delivering an account opening experience that works seamlessly online and in-branch, reduces friction, and gets customers up and running quickly. Just as importantly, it helps our teams spend less time on manual tasks and more time building real relationships, supporting growth while delivering a modern banking experience," he added.

The operational side of the change is central to the project. Banks often contend with manual reviews, duplicate data entry and fragmented compliance checks when applications move between digital tools and branch systems. Unifying those steps can reduce errors and shorten the time needed to approve and fund new accounts.

That could be particularly relevant in business banking, where applications are typically more complex than standard retail deposits and often require additional verification. Bringing more of that process online may help FVSBank widen access to business accounts without adding the same level of administrative burden.

Benjamin Conant, Chief Product Officer at Alkami, described the partnership as part of a broader push by banks to give customers more choice in how they open accounts.

"MANTL is excited to partner with FVSBank to deliver a modern, truly omnichannel account opening experience across its physical and digital banking channels," Conant said.

"Their commitment to meeting customers wherever they choose to bank aligns with our focus on reducing friction, improving conversion, and creating a more efficient experience for both customers and employees," he added.

The project gives FVSBank a way to support account opening across branch and digital channels through the same underlying workflow, while expanding online access to speciality deposit products and automating much of the checking and booking work that follows an application.