Latest news with #Quontic
Finextra
7 days ago
- Business
- Finextra
Mantl becomes first fintech to offer Plaid Layer onboarding tech
MANTL, an Alkami solution team and leading provider of loan and deposit account opening technology, today announced that it is the first fintech to resell and offer Plaid Layer, Plaid's instant onboarding technology used by the most innovative neobanks. 0 Through this first-of-its-kind integration, MANTL empowers regional and community financial institutions to deliver the same seamless digital onboarding experiences as tech-first neobanks while unlocking faster growth and stronger conversion. MANTL already delivers a best-in-class account opening experience, with average account opening times of under five minutes for consumers and under ten minutes for businesses. Now, with Plaid Layer natively integrated into its platform, MANTL can provide a one-minute account opening time. Plaid Layer enables financial institutions to collect identity information and link external accounts in seconds using only a phone number, eliminating friction while maintaining the highest standards of trust and security. By embedding this technology directly into its deposit and loan workflows, MANTL streamlines the entire onboarding process, accelerating time to open and enabling more users to successfully reach and complete applications—all within a secure, optimized experience. 'At Quontic, we are committed to delivering fast, intuitive, and seamless digital banking experiences that meet the evolving needs of our customers. The Plaid Layer integration, through our partnership with MANTL, allows us to dramatically accelerate onboarding while maintaining the highest standards of security and trust,' said Grace Pace, senior vice president of digital banking at Quontic Bank. 'More than a technology provider, MANTL is a strategic partner to regional and community banks. By making cutting-edge innovations like Plaid Layer readily available, MANTL empowers institutions to drive sustained growth and compete more effectively in today's digital-first landscape.' Key benefits of the MANTL-Plaid Layer integration include: Increase in conversion: Plaid customers using Layer have seen up to a 25% increase in end-to-end conversion rates. Faster onboarding: Layer can onboard an account holder in one minute by unifying the collection of identity data for verification and account linking into one conversion-optimized flow, streamlining the signup process by as much as 87%. Secure, scalable growth: MANTL paired with Plaid Layer unlocks an even more seamless, secure, and scalable path to customer growth. 'MANTL is on a mission to empower regional and community banks and credit unions to compete with the likes of Chase and Chime,' said Benjamin Conant, co-founder and chief technology officer at MANTL. 'Until now, only the most tech-forward neobanks have had access to Plaid Layer—and the results speak for themselves. Giving the community banking space built-in access to this powerful technology is another way MANTL helps these institutions reclaim their competitive edge.' This integration reiterates MANTL's commitment to innovation and deepens its long-standing partnership with Plaid. Today, over 100 MANTL customers already use Plaid solutions to streamline onboarding, reporting 37% higher application booking rates. To date, more than 680,000 accounts have been opened on MANTL using Plaid. 'Our partnership with MANTL brings Plaid Layer's instant financial onboarding experience and real-time risk checks directly into the workflows of regional and community financial institutions,' said Adam Yoxtheimer, head of partnerships at Plaid. 'Now banks and credit unions can offer the digital-first experiences that consumers demand—accelerating new account growth, strengthening customer loyalty, and lowering operational costs—all while keeping security and compliance front and center.' Plaid Layer is available to eligible MANTL bank and credit union customers.
Yahoo
07-02-2025
- Business
- Yahoo
Quontic Bank review (2025)
Summary: Quontic Bank is a New York-based digital bank founded in 2009. This bank offers four types of deposit products with competitive interest rates: checking accounts, savings accounts, money market accounts, and certificates of deposit (CDs). Quontic also offers a suite of traditional mortgages, such as conventional and FHA loans, as well as nontraditional mortgages, such as bank statement loans and foreign national loans. It also offers mortgage refinancing. Quontic currently offers the following products and account options: High-interest checking: Quontic's high-interest checking account currently offers an annual percentage yield (APY) of over 1% on all balance tiers when you make at least 10 qualifying debit card point-of-sale transactions of $10 or more per statement cycle. If you don't meet the qualifying transactions requirement, you'll earn 0.01% on your balance. You'll need to make a minimum deposit amount of $100 to open a Quontic checking account. Once your account is open, interest will be compounded daily and paid monthly. Cash rewards checking: This account rewards users with 1% cash back on all eligible debit card purchases to earn up to $50 in cash back per statement cycle. The minimum amount needed to open this account is $100. High-yield savings account: Quontic's high-yield savings account is currently boasting a high APY of 4.00% with no monthly service fees and a $100 minimum balance to get started. Interest on this account is compounded daily and credited to your account monthly. Money market account: For an even higher savings rate, Quontic offers an online money market account with a 4.75% APY. This account comes with a free debit card and check-writing privileges. Like Quontic's other deposit accounts, this one also requires a $100 minimum opening deposit. Certificates of deposit: Quontic Bank CDs require a $500 minimum opening deposit and offer terms from three months to 60 months. Early withdrawals will result in a penalty of up to two years' worth of interest, depending on your CD term. Mortgages: Quontic offers loans for home purchases and loans for current homeowners who hope to secure a more favorable rate through mortgage refinancing. Quontic also offers mortgages geared toward foreign nationals, self-employed individuals, and real estate investors. Here's a closer look at the account and transaction fees Quontic customers can expect to pay: High-interest checking account fee: $0 High-yield savings account fee: $0 Overdraft fee: $0 ATM fee: $0 Outgoing wire transfer fee (domestic): $25 Incoming wire transfer fee: $0 Outgoing wire transfer fee (foreign): $35 Returned deposited item: $10 Dormant account fee: $5 per month Account research fee: $20 per hour Account reconciliation: $30 per hour There are a few major pros and cons customers should note before banking with Quontic. Pros: No overdraft or monthly maintenance fees: Quontic doesn't require any monthly fees for account maintenance, and it also doesn't charge customers overdraft fees. Sizeable network of free ATMs: Quontic offers an ATM network with over 90,000 locations where you can withdraw funds from your bank account free of charge. Rewards checking: Quontic's most basic checking account option is a rewards account that allows users to earn interest on their checking account balance, which could be a major perk for customers who want to give their bank account a boost. Cons: Limited product offering: Quontic currently offers two checking account options, two savings account options, and CDs. It does not offer any credit cards, personal loans, auto loans, retirement accounts, or kids' bank accounts. No physical branches: Quontic is an online-only bank with a few loan offices, but no physical branches for customers to visit and open or manage their accounts. No cash deposits: Quontic does not accept cash deposits to fund your account. Instead, you'll need to transfer money from your existing Quontic account, transfer money from an external account via ACH, or use a third-party app. Quontic customers can reach a service representative via telephone, Monday through Friday from 9 a.m. to 6 p.m. ET. It also offers a live chat feature on its website and an audio call feature that customers can access right from their computer. Quontic's mobile app is available for Apple and Android users on the App Store and Google Play. It has a rating of 4.8 and 4.7, respectively. Customers can use the app to check account balances, deposit checks, pay bills, view payment activity, set up account notifications, monitor their credit score, and more. Quontic supports local and national organizations like City Harvest, Eden Reforestation Projects, Give Directly, and the UN's World Food Program USA. In its annual community impact report, Quontic reports planting 3,996 trees, providing 3,470 meals for children, and 588 nights of safe shelter for people in poverty. In 2015, Quontic was awarded the title of Certified Community Development Financial Institution (CDFI), which is a government designation given to specialized organizations that provide financial services in low-income communities and to people who lack access to financing. Quontic Bank was first established as a community bank in 2009. Yes, Quontic is a member FDIC-insured online bank. Quontic Bank has a few loan offices around the country, but it does not have physical branches for in-person banking.
