Alkami Technology, a U.S.-based provider of cloud-based digital banking solutions, has signed an agreement to acquire Fin Technologies (MANTL) for an enterprise value of $400 million. The acquisition will be funded with approximately $380 million in cash and $13 million in restricted stock units for continuing MANTL employees. MANTL specializes in account origination technology, enabling financial institutions to open deposit accounts efficiently across multiple channels, including in-branch, call center, and digital platforms. The transaction is expected to close by March 31, 2025, pending customary conditions.
MANTL’s platform has helped financial institutions raise more than $31 billion in deposits while improving efficiency through automation. Its technology significantly reduces account opening times, with retail accounts being created in under five minutes and business accounts in less than 10 minutes. Alex Shootman, Alkami Chief Executive Officer, said of MANTL, “when combined with Alkami’s strengths in digital banking and data and marketing, it completes the Alkami Digital Sales & Service Platform, our solution to help financial institutions land and expand the account holder relationship and create competitive advantage.”
