NASA Federal Credit Union Elevates Alkami's Digital Banking Experience with Push Provisioning

Rhea-AI Summary

Alkami Technology (Nasdaq: ALKT) announces successful collaboration with NASA Federal Credit Union (NASA FCU) to enhance digital banking through push provisioning implementation. Key achievements include a dramatic improvement in mobile app ratings from 1.3 to 4.9, increased member engagement, and faster technology integration through Alkami's API framework.

NASA FCU expanded their card management suite with digital card capabilities, granular controls, and alerts. The push provisioning feature allows members to add cards to digital wallets directly from digital banking, enhancing security and convenience. Members can now set specific transaction restrictions based on merchant type, location, and value, while receiving real-time alerts on card usage.

Positive

• Mobile app rating significantly improved from 1.3 to 4.9
• Successfully implemented push provisioning technology enhancing digital banking capabilities
• Increased member engagement on digital platforms
• Achieved J.D. Power certification for outstanding mobile banking platform

Negative

• None.

Insights

Fintech Solutions Analyst

The partnership between Alkami and NASA Federal Credit Union represents a strategic advancement in digital banking capabilities, with measurable success metrics that validate the platform's effectiveness. The improvement in mobile app ratings from 1.3 to 4.9 is particularly noteworthy, as it directly correlates with increased user adoption and potential revenue growth through digital channels.

The implementation of push provisioning technology is commercially significant as it addresses a critical friction point in the digital payment ecosystem. By enabling instant digital wallet integration, this feature can drive higher transaction volumes and increase the likelihood of becoming the default payment method - a important metric for financial institutions' revenue streams. The enhanced security features and granular control capabilities align with evolving regulatory requirements and consumer demand for greater payment security.

For investors, this partnership showcases Alkami's ability to deliver tangible value to financial institutions, potentially strengthening its competitive position in the $15+ billion digital banking solutions market. The successful implementation and positive client feedback could accelerate Alkami's market penetration, particularly among credit unions seeking digital transformation solutions.

Digital Payments Specialist

The push provisioning feature implementation represents a significant technological leap that directly impacts revenue potential. When members can instantly digitize their cards, it creates an immediate activation pathway, reducing the traditional lag between card issuance and first use. This translates to faster interchange revenue generation and higher likelihood of becoming the primary payment method.

The granular control system, including merchant-specific restrictions and location-based limits, positions Alkami's solution at the forefront of fraud prevention technology. This comprehensive approach to security can lead to reduced fraud losses for financial institutions while maintaining high transaction approval rates - a important balance that directly affects profitability.

The API framework's efficiency in enabling rapid integrations suggests strong scalability potential, which is essential for maintaining competitive advantage in the fast-evolving fintech sector. This technological foundation could support faster client onboarding and reduce implementation costs, potentially improving Alkami's operating margins.

Enhancing the member experience with digital card capabilities that empower members to transact with ease and strengthen payment security 

PLANO, Texas, Jan. 10, 2025 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., proudly announces its successful collaboration with NASA Federal Credit Union (NASA FCU) to modernize and optimize its digital banking experience for members by introducing push provisioning. The partnership has resulted in significant improvements in member satisfaction, digital engagement, streamlined technology integration, and comprehensive experiences across mobile and desktop.

Since launching the Alkami platform, NASA FCU has achieved key milestones:

• Improved Mobile Application Ratings: NASA FCU's mobile app rating surged from 1.3 to 4.9, demonstrating enhanced member satisfaction and trust in the credit union's digital offerings.
• Boosted Member Engagement: More members are leveraging NASA FCU's upgraded digital platforms, reflecting increased interaction and satisfaction.
• Accelerated Innovation: Alkami's application programming interface (API) framework has enabled faster and more efficient integrations, allowing NASA FCU to quickly adapt to market demands.

"I truly believe that our card management suite is one of the best. Alkami has delivered one of the most cohesive card experiences we've seen in the industry. They continue to push the envelope with innovative features, allowing members to start using their cards digitally while the physical card is still in the mail. These cutting-edge features are setting a new standard for what card management can be in the digital banking space," said Liam Petraska, digital banking manager at NASA Federal Credit Union.

NASA FCU continued to deepen their investments by prioritizing their members' needs and expanding their card management suite to offer digital card capabilities, as well as granular card controls and alerts. By deploying push provisioning, NASA FCU is empowering their members to seamlessly add their card to their digital wallet from within digital banking, eliminating manual entry and allowing them to transact more securely without their physical card present. This enhancement aligns with the evolving payments technology and drives top-of-wallet behavior with members accustomed to paying via their digital wallet. The credit union's security-focused mindset has given members greater control over their payments by allowing them to set restrictions on highly specific transaction types, such as merchant type, location, and transaction value. In addition to the self-service limits, the credit union can deliver real-time alerts on card usage.

"Finding good software is not difficult. Finding a true partner and a team that you want to work with is rare," continued Petraska. 

For a detailed look at how Alkami and NASA Federal Credit Union worked together to achieve these outstanding results, download the full case study here.

Alkami has been certified by J.D. Power for providing "An Outstanding Mobile Banking Platform Experience¹."

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.

Media Relations Contacts
Vested
alkami@fullyvested.com 

Marla Pieton
marla.pieton@alkami.com 

1 J.D. Power 2024 Mobile App Platform Certification ProgramSM 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/awards.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nasa-federal-credit-union-elevates-alkamis-digital-banking-experience-with-push-provisioning-302348016.html

SOURCE Alkami Technology, Inc.

FAQ

What improvements did NASA FCU see after implementing Alkami's (ALKT) digital banking platform?

After implementing Alkami's platform, NASA FCU saw their mobile app rating increase from 1.3 to 4.9, experienced higher member engagement, and achieved faster technology integration through Alkami's API framework.

What new features did Alkami (ALKT) introduce for NASA FCU's digital banking platform?

Alkami introduced push provisioning, allowing members to add cards to digital wallets directly from digital banking, along with granular card controls for transaction types, locations, and values, plus real-time alert capabilities.

How does Alkami's (ALKT) push provisioning feature benefit NASA FCU members?

The push provisioning feature enables members to add their cards to digital wallets without manual entry, increasing security and allowing transactions without physical cards present.

What security features does Alkami (ALKT) provide for NASA FCU's digital banking platform?

Alkami provides granular card controls allowing members to set restrictions on specific transaction types, merchant categories, locations, and transaction values, along with real-time alerts on card usage.