Radius Bank Partners with Mantl to Launch Digital Account Opening Platform

Radius Bank announced a partnership with New York City-based fintech company Mantl to launch a new digital account opening platform in February 2018. Mantl provided the technology layer enabling a streamlined, fully digital onboarding experience for new bank customers. Radius Bank, a Boston-based community bank, sought to modernize its customer acquisition process and compete more effectively with larger banks and digital challengers.

The partnership exemplified the growing trend of smaller banks turning to fintech partners rather than building proprietary digital platforms in-house. By leveraging Mantl's white-label technology, Radius Bank could offer a seamless digital experience while retaining its banking charter and customer relationships. The deal illustrated the emerging banking-as-a-service model where fintechs provide infrastructure components and banks provide the regulated financial services layer.

No financial terms of the partnership were publicly disclosed.