Alkami to acquire account opening tech provider MANTL
The acquisition is expected to enhance Alkami's digital banking and data and marketing solutions, creating a comprehensive digital sales and service platform for financial institutions.
The transaction, which is expected to see a customary purchase price adjustment of approximately $7m, will be funded through $380m in cash and $13m in restricted stock units for MANTL employees.
These stock units will replace unvested compensatory stock options.
MANTL's platform stands out for its multi-tenant, core-agnostic capabilities, enabling financial institutions to support account opening across various channels, including in-branch, call centre, and digital, highlighted Alkami.
The technology automates the account opening process for a wide range of deposit account types and roles, streamlining operations across front, middle, and back-office functions.
Currently, MANTL serves 112 financial institution clients, with assets ranging from $80m to over $20bn.
Since its inception in 2016 by Nathaniel Harley and Benjamin Conant, MANTL has facilitated over $31bn in deposit raises and saved over 350,000 hours for employees through its automation and process transformation.
By acquiring MANTL, Alkami reinforces its leadership in the digital banking sector, offering financial institutions robust tools to onboard, engage, and grow their customer base.
The completion of the acquisition is anticipated by 31 March 2025, contingent on standard conditions.
Alkami CEO Alex Shootman said: 'MANTL is a leader in account opening, allowing financial institutions to boost deposit growth with a higher application conversion, higher initial funding, and less fraud than competitive alternatives.
'And, when combined with Alkami's strengths in digital banking and data and marketing, it completes the Alkami Digital Sales & Service Platform, our solution to help financial institutions land and expand the account holder relationship and create competitive advantage."
"Alkami to acquire account opening tech provider MANTL" was originally created and published by Retail Banker International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
24 minutes ago
- Bloomberg
Goldman's Asset Arm Says Emerging Markets Catching Only ‘First Wave' of Flows
Emerging markets are set for further gains as renewed appetite for diversification and light positioning bolster the case for the asset class, which has been marred by years of outflows, according to Goldman Sachs Group Inc. 's asset-management division. 'The flow tide is turning — and we believe EM is catching the first wave,' said Anupam Damani, co-head of emerging-market debt at Goldman Sachs Asset Management. 'After years of being sidelined by US-centric risk taking, diversification is quietly reclaiming its place in global portfolios.'
Android Authority
an hour ago
- Android Authority
Samsung may be killing bootloader unlocking on all phones with One UI 8
Joe Maring / Android Authority TL;DR Samsung appears to be disabling bootloader unlocking in One UI 8 on more devices than before. Previously, only US models lacked the OEM Unlock toggle, but the restriction now seems to be spreading to global models as well. A contributor on XDA Developers discovered that Samsung is likely stripping out the necessary code to unlock bootloaders entirely. Samsung might be quietly locking down its phones even more tightly with the One UI 8 update. A new report from an XDA Developers contributor reveals that Samsung appears to be removing the ability to unlock the bootloader on more devices, including international versions that previously supported it. Samsung phones in the US already lack the 'OEM Unlocking' toggle in Developer Options, effectively preventing users from unlocking the bootloader and installing custom ROMs. But now, it looks like that restriction could apply globally. What's changed? The contributor, salvo_giangri, discovered that Samsung has added a line to the device's bootloader configuration: This line tells the Android system whether the device is allowed to unlock the bootloader. If it's set to 1, the Settings app won't even show the OEM Unlock option, which is the first step in unlocking a phone. In the latest One UI 8 firmware, this line is present even on non-US devices, indicating that the restriction is no longer region-specific. We checked and can confirm that our non-US Galaxy Z Fold 7 does not have the 'OEM Unlocking' toggle in Developer Options. Some folks think this could be a mistake on Samsung's part. However, those running the One UI 8 beta build also report that the option is missing from their devices. Unlocking the bootloader is essential for enthusiasts and developers who want to install custom ROMs or kernels, gain full root access to their devices, or further customize their phones. If you're someone who loves customizing your phone or values the freedom to tinker with Android, then this is a significant step back from Samsung. Anyone planning to update to One UI 8 or buy a new Samsung device running Android 16 should know that this restriction may apply to their devices. That said, we'll reach out to Samsung for an official confirmation on the matter. For now, the bootloader on your current Samsung devices that are not running One UI 8 should still be unlockable, but with new updates and devices, that may no longer be the case.
Yahoo
2 hours ago
- Yahoo
State of play in Trump's tariffs, threats and delays
Dozens of economies including India, Canada and Mexico face threats of higher tariffs Friday if they fail to strike deals with Washington. Here is a summary of duties President Donald Trump has introduced in his second term as he pressures allies and competitors alike to reshape US trade relationships. - Global tariffs - US "reciprocal" tariffs -- imposed under legally contentious emergency powers -- are due to jump from 10 percent to various steeper levels for a list of dozens of economies come August 1, including South Korea, India and Taiwan. The hikes were to take effect July 9 but Trump postponed them days before imposition, marking a second delay since their shock unveiling in April. A 10 percent "baseline" levy on most partners, which Trump imposed in April, remains in place. He has also issued letters dictating tariff rates above 10 percent for individual countries, including Brazil, which has a trade deficit with the United States and was not on the initial list of higher "reciprocal" rates. Several economies -- the European Union, Britain, Vietnam, Japan, Indonesia and the Philippines -- have struck initial tariff deals with Washington, while China managed to temporarily lower tit-for-tat duties. Certain products like pharmaceuticals, semiconductors and lumber are excluded from Trump's "reciprocal" tariffs, but may face separate action under different authorities. This has been the case for steel, aluminum, and soon copper. Gold and silver, alongside energy commodities, are also exempted. Excluded too are Mexico and Canada, hit with a different set of tariffs, and countries like Russia and North Korea as they already face sanctions. - Canada, Mexico - Canadian and Mexican products were hit by 25 percent US tariffs shortly after Trump returned to office, with a lower rate for Canadian energy. Trump targeted both neighbors over illegal immigration and fentanyl trafficking, also invoking emergency powers. But trade negotiations have been bumpy. This month, Trump said Canadian goods will face a higher 35 percent duty from August 1, and Mexican goods will see a 30 percent level. Products entering the United States under the USMCA North American free trade pact, covering large swaths of goods, are expected to remain exempt -- with Canadian energy resources and potash, used as fertilizer, to still face lower rates. - China focus - Trump has also taken special aim at China. The world's two biggest economies engaged in an escalating tariffs war this year before their temporary pullback. The countries imposed triple-digit duties on each other at one point, a level described as a trade embargo. After high level talks, Washington lowered its levies on Chinese goods to 30 percent and Beijing slashed its own to 10 percent. This pause is set to expire August 12, and officials will meet for further talks on Monday and Tuesday in the Swedish capital Stockholm. The US level is higher as it includes a 20 percent tariff over China's alleged role in the global fentanyl trade. Beyond expansive tariffs on Chinese products, Trump ordered the closure of a duty-free exemption for low-value parcels from the country. This adds to the cost of importing items like clothing and small electronics. - Autos, metals - Trump has targeted individual business sectors too, under more conventional national security grounds, imposing a 25 percent levy on steel and aluminum imports which he later doubled to 50 percent. The president has unveiled plans for a 50 percent tariff on copper imports starting August 1 as well and rolled out a 25 percent tariff on imported autos, although those entering under the USMCA can qualify for a lower rate. Trump's auto tariffs impact vehicle parts too, but new rules ensure automakers paying vehicle tariffs will not also be charged for certain other duties. He has ongoing investigations into imports of lumber, semiconductors, pharmaceuticals and critical minerals that could trigger further duties. - Legal challenges - Several legal challenges have been filed against the tariffs Trump invoked citing emergencies. The US Court of International Trade ruled in May that the president had overstepped his authority, but a federal appeals court has allowed the duties to remain while it considers the case. If these tariffs are ultimately ruled illegal, companies could possibly seek reimbursements. bys/des/mlm Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
