Empower Federal Credit Union Expands Partnership with Alkami by Selecting MANTL to Power Omnichannel Growth

Empower Federal Credit Union (Empower FCU), a Syracuse-based financial cooperative, has expanded its partnership with Alkami Technology, a provider of digital sales and service platforms for financial institutions, by selecting MANTL to enhance its omnichannel growth strategy. This collaboration will see Empower FCU implement MANTL's comprehensive Onboarding & Account Opening Suite to modernize the account opening experience for both retail and business members.

The new technology aims to deliver a seamless end-to-end onboarding process across various banking channels, including online, in-branch, and mobile applications. Lori Verzillo, the Chief Retail Officer at Empower FCU, emphasized the importance of a smooth, integrated experience, indicating that MANTL’s solutions facilitate quick and efficient account openings, significantly enhancing member satisfaction.

Empower FCU aims to streamline the account opening process, allowing members to open accounts online in under five minutes and in-branch in less than ten minutes. This approach not only reduces friction but also enhances the overall member experience, catering to their diverse needs. Additionally, by providing MANTL’s Business Account Opening feature, Empower FCU is poised to better engage with business members, thereby strengthening its business banking offerings and fostering deeper relationships.

Taylor Adkins, Vice President of Product Management at Alkami, stated that this partnership is a testament to Empower FCU's commitment to providing a member-first approach, focusing on removing friction in the onboarding process and laying a solid foundation for long-term growth.

Founded in 1939, Empower FCU has grown significantly, serving over 300,000 members across Central and Western New York, and aims to continue innovating in its service delivery to meet the evolving needs of its community.

The recent expansion of Empower Federal Credit Union's (Empower FCU) partnership with Alkami Technology, specifically the integration of MANTL's Onboarding & Account Opening Suite, represents a strategic move that reflects the evolving landscape of digital banking. As financial institutions prioritize seamless and efficient member experiences, this integration positions Empower FCU to enhance both retail and business banking operations.

With the capabilities offered by MANTL, Empower FCU is set to drastically reduce the time required for account opening, allowing for online registrations in less than five minutes and in-branch openings in under ten. This efficiency is critical in today's competitive banking environment, where consumer expectations demand rapid service and a user-centric approach.

From a market perspective, this advancement places Empower FCU in a favorable position, as they can now leverage technology to attract and retain members more effectively. The emphasis on an omnichannel experience means that Empower FCU is not just improving its service but is also catering to the preferred banking habits of modern consumers who expect consistency across digital and physical channels.

Additionally, the integration of MANTL’s technology enhances the credit union's ability to cross-sell services. By enabling existing members to open additional accounts swiftly, Empower FCU can deepen customer relationships and increase revenue streams through additional product offerings.

Investors and stakeholders should view this collaboration as a positive indicator of Empower FCU's commitment to innovation and service excellence. As digital transformation continues to reshape the financial sector, credit unions that invest in enhancing their digital platforms like Empower FCU are likely to see significant growth. Consequently, observing how effectively Empower FCU implements this technology and the subsequent impact on member growth and satisfaction will be critical in evaluating its long-term viability and success in the market.