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Alkami Technology, Inc. - $ALKT STOCK NEWS

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Alkami Technology, Inc. (Nasdaq: ALKT) is a leading cloud-based digital banking solutions provider headquartered in Plano, Texas. The company offers cutting-edge online and mobile banking solutions designed to serve credit unions and banks. Its flagship product, the Alkami Platform, known as the ORB Platform, provides financial institutions with a future-proof digital banking experience characterized by unmatched security, flexibility, extensibility, and superior architecture.

The ORB Platform stands out for its modern user interface, intelligent content delivery system, and customizable features. It enables financial institutions to efficiently onboard and engage users, accelerate revenue streams, and enhance operational efficiency through a true cloud-based, multi-tenant architecture.

Alkami's recent collaboration with Greylock Federal Credit Union exemplifies its commitment to digital transformation. This partnership has empowered Greylock Federal to enhance its retail, business, and mobile banking offerings while providing an intuitive and seamless user experience. Additionally, the new Digital Sales & Service Maturity Model Assessment launched by Alkami allows banks and credit unions to measure and improve their digital maturity.

On the financial front, Alkami has showcased robust performance with a notable increase in revenue and user base. In Q1 2024, the company reported GAAP total revenue of $76.1 million and a significant rise in digital banking users, with 18.1 million live registered users.

Moreover, Alkami's innovative partnerships, like the one with SWIVEL, have further enhanced its product offerings. This collaboration introduced advanced loan payment capabilities, providing greater choice, speed, and flexibility to account holders.

Alkami's focus is not only on current solutions but also on the future of banking technology. The introduction of the SDK Wizard “Merlin” at the 2024 Alkami Co:lab conference underscores its commitment to technological advancements, offering developers a streamlined environment to create custom digital banking functionalities.

As a recognized leader in the industry, Alkami continues to support financial institutions in their digital transformation journey, helping them stay competitive and deliver superior digital banking experiences to their account holders.

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Alkami Technology (Nasdaq: ALKT), a cloud-based digital banking solutions provider, launched a video campaign highlighting the role of community financial institutions in supporting their account holders. The initiative, in collaboration with Northwest Federal Credit Union, Connexus Credit Union, and Patelco Credit Union, was showcased at Alkami Co:lab 2024. The campaign features stories of how these credit unions assist members in key life moments, such as obtaining loans for cars or small businesses. This project builds on last year's social media campaign, emphasizing the integral role of regional banks in their communities. CEO Alex Shootman expressed pride in partnering with these institutions to deliver exceptional service and foster long-term relationships.

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Alkami Technology, a leader in cloud-based digital banking solutions, has seen a 76.5% rise in new contracts for its Data & Marketing Solutions over the past two years compared to the previous period. Financial institutions using these solutions achieve an average 13X ROI. The tools include Transaction Data Cleansing, Customer Insights & Marketing Automation, and AI Predictive Models, which help banks and credit unions better understand and serve their account holders. These advanced solutions enable personalized banking experiences, deeper user engagement, and more effective marketing campaigns. Financial institutions are increasingly adopting these technologies to stay competitive in a fragmented market.

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Alkami Technology (Nasdaq: ALKT), a top provider of cloud-based digital banking solutions in the U.S., will present at the William Blair 44th Annual Growth Stock Conference on June 4, 2024. CEO Alex Shootman and CFO Bryan Hill will represent the company. A webcast and replay of their presentation will be available on the company's investor relations website post-conference.

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Alkami Technology announced the release of its Generational Trends in Digital Banking Study on May 22, 2024. The study explored millennial financial behaviors and preferences in the context of a significant intergenerational wealth transfer. Key findings include that 73% of millennials feel the rising interest rate environment has impacted their standard of living, and 65% are living paycheck to paycheck. Notably, millennials are 56% more likely to expand their relationship with their primary financial institution over the next year compared to Gen Xers and baby boomers. The study underscores opportunities for regional and community financial institutions to engage with millennials through personalized digital experiences.

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Alkami Technology, Inc. awarded four financial institutions for their innovative digital banking strategies through the FIsionaries™ Awards. The honorees showcased exceptional initiatives in member experience, digital transformation, fintech innovation, and culture transformation, highlighting their commitment to excellence and progress in the industry.

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Alkami Technology, Inc. (Nasdaq: ALKT) hosted its first external TechFin Hackathon as part of the Alkami Co:lab 2024 programming, showcasing innovation in digital banking. Participants developed cutting-edge projects using Alkami's platform and SDK, fostering creativity and collaboration among financial institutions, fintech partners, and system integrators. Notable projects included various widgets enhancing online banking experiences. The hackathon highlighted exceptional innovation from participants across different financial institutions, emphasizing Alkami's commitment to driving innovation in digital banking.

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Alkami Technology, Inc. announced its first quarter 2024 financial results, showcasing a 26.9% increase in GAAP total revenue, a rise in gross margin, and positive adjusted EBITDA. The company continued to gain market share, renewing contracts with key clients, and expanding its user base. With a focus on digital banking solutions, Alkami reported strong growth and revenue per user, positioning itself well for future success.

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Alkami Technology, Inc. in partnership with Cornerstone Advisors released the Digital Banking Performance Metrics Report. The report highlights an increase in digital channel spending and chatbot deployment. Key findings include a rise in mobile banking engagement, a decrease in online loan applications, and insights into high-performing financial institutions.
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Alkami Technology, Inc. (Nasdaq: ALKT) is set to announce its first quarter 2024 financial results on May 1, 2024, after the market close. The leading cloud-based digital banking solutions provider for U.S. financial institutions will host a conference call to discuss the results with investors.
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Alkami Technology, Inc. (Nasdaq: ALKT) launches SDK Wizard 'Merlin' at the 2024 Alkami Co:lab conference. 'Merlin' is a revolutionary tool in the financial services industry, allowing developers to set up environments quickly. Alkami focuses on platform capabilities for community and regional financial institutions to compete against megabanks. The company emphasizes scalability, availability, data insights, and speed in its platform development.
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FAQ

What does Alkami Technology, Inc. do?

Alkami Technology, Inc. provides cloud-based digital banking solutions for credit unions and banks, offering a modern, secure, and flexible platform known as the Alkami Platform or ORB Platform.

Where is Alkami Technology, Inc. based?

Alkami Technology, Inc. is headquartered in Plano, Texas.

What is the ORB Platform?

The ORB Platform, Alkami's flagship product, delivers unparalleled security, flexibility, and extensibility for digital banking, featuring a modern interface and intelligent content delivery system.

What recent innovation has Alkami introduced?

Alkami recently introduced the SDK Wizard “Merlin” at its 2024 Alkami Co:lab conference, which streamlines the developer environment for creating custom digital banking functionalities.

How did Alkami perform financially in Q1 2024?

In Q1 2024, Alkami reported GAAP total revenue of $76.1 million and an increase in digital banking users, reaching 18.1 million live registered users.

What is the Digital Sales & Service Maturity Model Assessment?

Launched by Alkami, this assessment tool helps banks and credit unions measure their digital maturity and provides actionable guidance to enhance their digital banking offerings.

What is the significance of Alkami's partnership with SWIVEL?

Alkami's partnership with SWIVEL introduced advanced loan payment capabilities, offering greater choice, speed, and flexibility to account holders through the ORB Platform.

How does Alkami help financial institutions transform digitally?

Alkami supports digital transformation through its comprehensive solutions for retail and commercial banking, digital account opening, and data analytics and marketing solutions.

What is the focus of Alkami's future developments?

Alkami focuses on advancing platform capabilities, including scalability, availability, data insights, and speed, to support community and regional financial institutions in their digital transformation journey.

What recognition has Alkami received recently?

Alkami has been recognized for its innovative initiatives and partnerships, such as the transformative collaboration with Greylock Federal Credit Union and the Digital Sales & Service Maturity Model Assessment.

Alkami Technology, Inc.

Nasdaq:ALKT

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ALKT Stock Data

2.53B
45.87M
31.9%
54.99%
1.08%
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