Omnichannel Digital Account Opening: The First Step in a Unified Digital Sales and Service Platform

How unified online and in-branch account opening, for retail and business, supports a better user experience and powers long-term growth

Financial institutions aren't just competing on products anymore - they're competing on experiences.

In today's market, where consumer expectations are shaped by DoorDash, Netflix, and Amazon, banks and credit unions must rethink the way they attract, serve, and grow relationships.

That starts with a simple question: What happens the moment someone decides to open an account?

For Alkami, that moment isn't just a transaction. It's the beginning of a personalized, data-driven journey - and the first step in a fully connected digital sales and service platform that unifies onboarding, digital banking, and marketing.

This is where Anticipatory Banking comes to life. From the moment a consumer or business starts an application - online, in a branch, or over the phone - Alkami enables financial institutions to act on real-time data to personalize interactions, automate next steps, and deliver intelligent experiences that convert.

Omnichannel account opening, powered by MANTL, isn't just a nice-to-have. It's a strategic advantage - and a core pillar of how financial institutions can compete in a digital-first era.

The Imperative for Digital Account Opening

In Alkami's latest research conducted in partnership with Cornerstone Advisors, the data speaks volumes:

• Only 9% of new checking accounts in 2024 were opened at community financial institutions
• Regional banks claimed 23% of new accounts
• 44% of new accounts were opened with neobanks

This distribution of new checking account market share highlights the stark reality impacting the financial services industry. Consumers (and businesses for that matter) expect intuitive, quick digital account opening experiences. If community financial institutions do not have the right technology in place to meet those needs, they risk losing market share to digital-first competitors with a better experience.

Bridging the Gap with Omnichannel Account Opening

In today's digital-first environment, digital account opening should not be limited to online channels. Financial institutions must meet their clients where they are-whether at home on their phone, in-branch, or calling into the call center-and seamlessly bridge the experience across all channels to deliver on the promise of relationship banking. This means providing a Netflix-like experience that allows an account holder to start an application on one channel and seamlessly resume it on another without losing progress.

As the role of the branch continues to evolve, the industry's most traditional service channel has fallen significantly behind the digital transformation curve. Case in point: if an account holder can open an account in under three minutes online, why does it take 5X longer to open an account in-branch? Institutions must leverage modern, digital account opening in-branch to improve the client experience, scale deposit operations, and empower their bankers to focus on deepening relationships instead of completing manual tasks. Digitizing the in-branch experience will also significantly increase operational efficiency, with some institutions saving more than 300 hours a month on in-branch account opening.

A survey from November 2024 found that 52% of consumers visited their primary institution's branch between 1-4 times in the past year. Baby Boomers averaged 4.6 visits annually, while Generation Z (Gen Z) averaged 3.6 visits- a surprising reminder that even digital natives still turn to the branch when the moment matters. Whether it's opening a new account, resolving an issue, or applying for a loan, the branch continues to play a key role in the account holder experience. These visits aren't about routine transactions-they're about high-value, relationship-building interactions.

Evolving Expectations for Digital Account Opening

Expectations are no longer defined by banking experiences. Today, they're set by tech-driven, intuitive brands that anticipate what users want before they ask. Consumers and businesses alike expect the same level of ease and intelligence from their financial institutions - and if they don't get it, they'll move on.

Think about this scenario…

It's Friday at 5 PM. Sally has just wrapped up a packed week, and her phone buzzes with a personalized promo code for takeout. Within minutes, she filters her preferences on DoorDash, orders dinner, and gets real-time delivery updates. While she waits, Netflix recommends the perfect movie based on her viewing habits. An hour later, she's winding down - everything easy, everything personalized.

But Sally isn't just a consumer - she's also a small business owner.

The next day, she's up early running her booth at the farmers market. It's opening weekend - sales are steady, but her business banking needs have outgrown her personal account. She considers the bank where she currently manages her personal finances… but she's not sure they're set up for her business needs.

Alkami's Digital Sales & Service Platform in Action

Now, imagine Sally's experience is powered by a financial institution leveraging the Alkami Digital Sales & Service Platform.

She gets a personalized email - not a generic blast - inviting her to explore small business accounts based on recent activity in her personal account. She clicks, and in less than eight minutes, she completes her application - entirely on her phone. No paperwork. No branch visit required.

If she prefers to finish in person, her banker has real-time access to her in-progress application. No need to start over.

Once onboarded, Sally logs into her new business account using Alkami's Digital Banking Platform, where she sees:

• A smart dashboard tailored to small business owners

• Built-in cash flow tools

• Alerts about payment activity and helpful prompts like "Set up auto-pay for vendor invoices?"

Behind the scenes, Alkami's Data & Marketing engine is identifying relevant product opportunities and guiding Sally through her next steps - maybe a business credit card, or merchant services. She doesn't have to search for them; they show up where and when she needs them.

Sally's not just onboarded. She's engaged. And she's growing.

Alkami + MANTL: Transcending Digital Banking

Recognizing the need to reimagine digital account opening and bridge the gap across digital and physical channels, Alkami acquired MANTL to expand account opening capabilities. This acquisition isn't just about merging technologies; it's about redefining what's possible for banks and credit unions. Together, they create a holistic, interconnected platform enabling institutions to meet customers and members on their preferred channel without sacrificing consistency or quality.

The financial services industry stands at a crossroads where embracing omnichannel strategies is no longer optional but essential. By leveraging the combined power of Alkami and MANTL, financial institutions can accelerate growth, elevate user experiences, streamline operations, ensure compliance, fight fraud, and strategically expand their market presence in a highly competitive landscape.