On a brisk evening back in January of 2019, Har Rai Khalsa and Jon BenAmoz stood on a rooftop, overlooking the twinkling lights of Little Rock, Arkansas. The two reflected on their experience at ICBA and The Venture Center’s ThinkTECH Accelerator, where they showcased MK Decision’s (MK) Credit Card Origination System (CCOS) and Loan Origination System (LOS). Recalling the day’s conversations, they recognized community bankers were looking for one vendor to provide both loan origination and digital account opening. The team mulled over this realization and started brainstorming an action plan.

MK Decision at the ThinkTECH Accelerator

Consumers Expect Seamless Digital Account Opening

In a study conducted by Forbes, research found that in Q2 of 2020, community banks held 2% of the new account opening market share, while credit unions captured 8%. As many community financial institutions lack digital onboarding, consumers are flocking to megabanks with online account opening.


As MK began R&D for our Deposits product, Har Rai applied for a high-interest savings account with a megabank. In order to apply, he needed to make a deposit from his existing account to the newly opened one. This required the routing number and account number for his existing account. “Where can I find this information?” he thought to himself.

Har Rai first Googled the routing number for his existing bank and then had to log into his mobile banking app to locate his account number. He zoomed in closely on his last month’s statement and had to flip between his mobile banking app and the megabank’s online application to type in the account number. As he flipped back and forth, he accidentally typed an extra “1.” Whoops! Har Rai's application was submitted, but his $10,000 deposit was never transferred. After this experience, Har Rai and the MK team set out to build a digital account opening platform that would offer multiple funding methods to ensure that no customer would be lost when it came time to fund a new account.

A Platform Where Marketing and Decisioning Converge

Guru Dharam, Jon, Max, and Har Rai at ICBA Live 2020

Fast forward to March of 2020 at ICBA Live in Orlando, Florida, where MK’s team flew across the country to debut our digital account opening platform. At the convention, we showcased our Deposits product to hundreds of bankers from across the nation. Their reaction gave us the validation we were looking for. The bankers were taken aback by how we had converged the website marketing and back-office underwriting for checking and savings accounts. MK’s competitive edge arose; our product educated and informed customers on the right account to choose while meeting the rising customer expectation for real-time decisions. This product had changed the trajectory of MK; we had embarked on a journey to support both sides of the balance sheet. With one vendor to drive deposits and distribute loans, bankers felt confident MK Decision's platform was aligned with their business model.

Automated Customer Identification and Due Diligence

Our digital account opening product guides customers through SalesFunnel’s informative account detail landing pages and AppFlow’s mobile-first application. As customers complete their application, identities are verified in real-time with IdentityConnect performing Know Your Customer (KYC) and OFAC checks. MK has designed our product with Bank Secrecy Act (BSA), FinCEN, and Anti-Money Laundering (AML) laws at the forefront to ensure your financial institution is compliant with all federal and industry regulations.

ID Scan

When the time comes to fund an account, customers can use their debit card or MK's API integration to authenticate their existing bank account. After an application is submitted, you can suggest other financial products such as personal loans or credit cards to enhance your institution’s cross-selling opportunities. Once an application is approved, your customer will be on the road to success. With more deposits coming into your financial institution, your lending authority will grow enabling your team to distribute more loans.

Account Funding Options

Since we are in the business of automation, MK empowers back-office teams with Dashboard to streamline operations. Harness the power of DecisionTime, MK’s automated decisioning engine to manage risk at scale. It has never been easier to approve applicants for digital account opening. MK’s powerful integrations remove the need for repetitive, manual entries by ensuring end-to-end data flow, from application to account creation on the core through CoreConnect.

MK’s deposit account product cares for your customers throughout the application process. With CustomerAccount, facilitate intuitive post-application processing including, Messaging between applicants and bankers, secure document uploads, and electronic signatures on agreements with SecureSign.


With a strong dedication to our customers, we have incorporated customer needs and feedback into our financial products. Going into Q1 2021, five new community banks will deploy MK’s digital account opening solution to support their local economies.

Pandemic First Responders

When developing our products, we decided they would offer the highest benefit if they were cloud-based, allowing customers and bankers to transact from anywhere, at any time. We had not anticipated the game-changing impact this would have as a result of COVID-19, enabling MK to provide immediate flexibility to our customers as they navigated a new avenue of banking. Our solutions helped our customers receive applications and gave them collaborative tools to underwrite and approve applications in a remote work environment.

MK Decision’s Chief Executive Officer, Har Rai Khalsa, spoke to the gravity of MK’s deposit account product in 2020, “Amid a global pandemic, MK Decision has been a first responder to community financial institutions across the nation. Our product ensures they can securely accept deposits digitally from new customers and turn them into high-quality, interest-bearing loans. We have dedicated an enormous amount of time, energy, and product development resources to partner with the most innovative financial institutions to exceed rising consumer expectations for digital channels.”