Alkami Hosts Banking Executive Masterclass on Preparing for Open Banking in the U.S.

Rhea-AI Summary

Alkami Technology (Nasdaq: ALKT) recently hosted a webinar titled 'A Banking Executive Masterclass: Preparing for Open Banking in the United States.' The event featured insights from Alkami's CTO Deep Varma, product owner Jamie Lang, and CCG Catalyst's senior research analyst Tyler Brown. They discussed open banking's impact on financial institutions and provided guidance on preparation strategies.

Key points included:

• The importance of educating both financial institutions and consumers about open banking
• Alkami's readiness for open banking with its developer-first approach and API capabilities
• The upcoming CFPB rule recognizing open banking standards
• Consumer demand driving the push for open banking
• The need for financial institutions to proactively prepare for this shift

Positive

• Alkami is positioning itself as a thought leader in open banking preparation
• The company's developer-first mindset and API capabilities may give it an advantage in the open banking landscape
• Alkami has been certified by J.D. Power for providing 'An Outstanding Mobile Banking Platform Experience'

Negative

• None.

Webinar explores how financial institutions can prepare, while educating employees and account holders

PLANO, Texas, Sept. 11, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., recently held its latest webinar, "A Banking Executive Masterclass: Preparing for Open Banking in the United States," which explores the impact of open banking on financial institutions and account holders, and delivers prescriptive guidance for bank and credit union executives on the path to preparation.

The masterclass via a webinar brought together Deep Varma, chief technology officer at Alkami, Jamie Lang, product owner at Alkami and Tyler Brown, senior research analyst at CCG Catalyst, who shared critical insights on how open banking is likely to reshape financial services, empower and create efficiency for consumers, and spur enhanced experiences for account holders. In addition, Varma and Brown provided guidance for financial institutions on how to prepare their employees and account holders – with education being critical across the board.

Open banking promises significant benefits for financial institutions and their account holders, but many bank and credit union leaders are looking for direction on how to prepare for this movement. "Our industry must educate itself on open banking so we can, in turn, educate consumers – because financial institutions need to start building awareness with their account holders now," said Varma. "Financial institution partners must also be prepared for this shift. At Alkami, our developer-first mindset, investment in high-quality data, and best-in-class APIs (application programming interfaces) position us well to scale for the demand for open banking solutions we are likely to see in the coming years."

This webinar comes amidst increased open banking regulation, such as the upcoming launch of a new rule to recognize open banking standards by the Consumer Financial Protection Bureau (CFPB). Regulations such as these highlight the acceleration and importance of the shift to open banking in the U.S.

"Consumer demand is driving the push for open banking. While upcoming regulations will enforce it, the industry is moving in this direction because consumers want control over their data," said Brown. "For financial institutions, open banking is not something to passively observe – it is coming faster than many anticipate, and now is the time for financial institution leaders to start these conversations."

"It is critical for financial institutions to stay ahead of developments in open banking," said Lang, who hosted the webinar. "Alkami is proud to provide resources like this which arm financial institutions with essential insights as they navigate this transformative change."

The webinar is available for viewing here.

Alkami has been certified by J.D. Power for providing "An Outstanding Mobile Banking Platform Experience."*

About Alkami
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly, and build thriving digital communities. Alkami helps clients transform through retail and commercial banking, digital account opening, and data and marketing solutions. To learn more, visit www.alkami.com.

*J.D. Power 2024 Mobile App Platform Certification Program^℠ recognition is based on successful completion of an audit and exceeding a customer experience benchmark through a survey of recent servicing interactions. For more information, visit www.jdpower.com/business/awards..

About CCG Catalyst
CCG Catalyst is a premier bank consulting and research advisory firm, dedicated to helping financial institutions navigate the evolving financial landscape with strategic guidance and innovative solutions. With a deep industry expertise, CCG Catalyst empowers banks, credit unions, and fintechs to achieve sustainable growth and success. To learn more, visit www.ccgcatalyst.com.

Media Relations Contacts
Vested
alkami@fullyvested.com

Marla Pieton
marla.pieton@alkami.com

CCG Catalyst
marketing@ccg-catalyst.com

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SOURCE Alkami Technology, Inc.

FAQ

What was the topic of Alkami's recent webinar on open banking?

Alkami's recent webinar was titled 'A Banking Executive Masterclass: Preparing for Open Banking in the United States,' focusing on the impact of open banking on financial institutions and strategies for preparation.

Who were the key speakers at Alkami's open banking webinar?

The key speakers at Alkami's open banking webinar were Deep Varma (CTO at Alkami), Jamie Lang (product owner at Alkami), and Tyler Brown (senior research analyst at CCG Catalyst).

What is driving the push for open banking according to the Alkami webinar?

According to the Alkami webinar, consumer demand is driving the push for open banking, with consumers wanting more control over their financial data.

What upcoming regulation related to open banking was mentioned in Alkami's webinar?

The webinar mentioned an upcoming rule by the Consumer Financial Protection Bureau (CFPB) to recognize open banking standards.