Digital Banking > Best API
Mantl provides an API wrapper that sits on top of legacy core banking systems allowing financial institutions to quickly launch next-generation digital capabilities on top of existing technical infrastructure. Most banks in the U.S sit on legacy core banking platforms from large incumbent providers (e.g. FIS, Fiserv, Jack Henry) and spend upwards of 70% of IT expenditure ($200bn/year) on maintaining these archaic systems. These platforms are built on old technology and do not integrate easily with modern third-party technologies that banks would like to use to improve their digital customer experiences and back office operations. Mantl’s core wrapper solution allows them to integrate modern products and capabilities without needing to rip-and-replace the existing core.
On top, Mantl is also developing application layer products for bank customers, starting with digital account opening and expanding to include business account opening, account servicing, mobile banking, and lending products. In addition, Mantl has integrated with a host of third-party partners who provide complementary pieces of the digital account holder journey such as KYC / AML providers and account aggregators and expects to continue to build out the ecosystem going forward.