Alkami Introduces the TechFin Concept, Delivering Revenue-Driving Sales and Service Platform

Rhea-AI Summary

Alkami Technology, Inc. (NASDAQ: ALKT) recently concluded Alkami Co:lab 2023 in Grapevine, Texas, showcasing advancements in digital banking. The company intends to redefine its approach by introducing the "TechFin" concept, emphasizing technology-driven financial solutions. CEO Alex Shootman highlighted investments in enhancing user experience, platform capabilities, and data utilization to personalize interactions for financial institutions (FIs). Alkami's clients, who have been on its platform for at least five years, reportedly outperform peers in key metrics such as deposit and loan growth, return on equity, and revenue growth, indicating a competitive advantage in today's digital banking landscape.

Positive

• Alkami clients that have been on the platform for at least five years have outperformed peers in major financial metrics including deposit growth, loan growth, and revenue growth.
• The introduction of the "TechFin" concept positions Alkami as a technology-driven provider of financial solutions, which may enhance its market competitiveness.

Negative

• None.

News Market Reaction – ALKT

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+1.71% News Effect

On the day this news was published, ALKT gained 1.71%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Alkami Co:lab 2023 explored emerging trends in digital banking and data analytics; long-term Alkami clients outperforming peers in major financial metrics

PLANO, Texas, April 13, 2023 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., wrapped up Alkami Co:lab 2023 in Grapevine, TX, last week after presenting a vision of digital banking's future, focused on helping financial institutions (FIs) leverage data to personalize account holder interactions, grow, and sustain their businesses. Alkami unveiled a distinction from the FinTech industry called the "TechFin" concept: a technology company that builds financial solutions, with Alkami's end goal to provide the primary digital banking Sales and Service Platform for FIs. Deep Varma, chief technology officer at Alkami stated, "Technology is one of the most powerful weapons in our arsenal that enables us to move at the pace of consumer demand as they are in the driver's seat, and moving to TechFin allows us to focus on a technology platform to build financial solutions at scale."

 "Consumers don't want a digital bank. They want their bank to digitize. That is why Alkami is focusing investment in three key areas: extending the user experience and reliability of the digital banking application, expanding the capabilities within the Alkami platform, and unleashing the power of data for each of our FIs," said Alex Shootman, Alkami chief executive officer, during his kickoff keynote.

Alkami's strategic vision is to elevate beyond digital banking and promote product adoption and user engagement, all while leveraging data to deliver a next-generation sales and service platform that increases revenue and lowers costs for financial institutions. "Alkami will deliver specialized data and marketing technology to make it easy for financial institutions to create personalized customer and member experiences," Shootman added.

Jim Marous, financial industry strategist, co-publisher of The Financial Brand, and one of the top five most influential people in banking according to Thinkers360, shared the main stage in a fireside chat and stated, "... when you look at the hyper-personalization capabilities, we have more opportunities today for customers and members to know that we know them, that we understand them, and that we're going to look out for them. And the reality is we have the opportunity to build better relationships on an individualized basis with every single customer and member in a way that can transform their life."

The shift to the digital banking channel being the most effective means of driving revenue comes as Alkami clients lead the market through a growth mindset and digital innovation. Using third party data, Alkami compared the financial results of its clients to those FI peers with alternative digital banking applications. Per FI Navigator data, Alkami clients that have been on the platform for at least five years have, on average, outperformed their peers on major financial metrics including deposit growth, loan growth, return on equity, return on assets and revenue growth. Alkami and its clients will continue to be pacesetters in the market, driving the next stage of digital banking transformation: connecting sales and service to deliver personalization at scale.

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 business banking, digital account opening, payment security, and data analytics and marketing solutions. To learn more, visit www.alkami.com.

Media Relations Contact
Marla Pieton
marla.pieton@alkami.com

Katie Schimmel
katie@outlookmarketingsrv.com 

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SOURCE Alkami Technology, Inc.

FAQ

What is the TechFin concept introduced by Alkami?

The TechFin concept introduced by Alkami focuses on leveraging technology to build financial solutions, aiming to redefine the digital banking landscape.

How have Alkami's clients performed compared to their peers?

Alkami's clients on the platform for at least five years have outperformed their peers in deposit growth, loan growth, return on equity, return on assets, and revenue growth.

What key areas is Alkami focusing on for investment?

Alkami is concentrating its investments on enhancing user experience, expanding platform capabilities, and utilizing data for personalized customer interactions.

When was Alkami Co:lab 2023 held?

Alkami Co:lab 2023 took place in Grapevine, Texas, on April 13, 2023.

What does Alkami aim to achieve with its digital banking solutions?

Alkami aims to provide a leading digital banking sales and service platform that increases revenue and lowers costs for financial institutions.