Alkami Technology, Inc. Stock Price, News & Analysis

Alkami Technology Inc. (Nasdaq: ALKT) announced the release of a new research report titled 'Digital Banking Market Pulse: Big Tech's influence on digital banking' on Jan. 26, 2022. The report, based on a survey of 795 U.S. consumers, highlights the growing expectation for advanced digital experiences similar to those offered by Big Tech. Key findings reveal that nearly 40% of consumers view future banks as technology companies, Baby Boomers desire engaging digital experiences, and one-third might switch to major tech brands for banking services. Alkami emphasizes the need for financial institutions to modernize their digital platforms.

Alkami Technology Inc. (NASDAQ: ALKT) has announced a partnership with Idaho Central Credit Union (ICCU) to implement bitcoin services via the NYDIG platform. This integration allows ICCU members to buy, sell, and manage bitcoin within their mobile app and online banking platform. ICCU, recognized as Idaho's fastest-growing credit union, aims to enhance member experience and adapt to the digital banking landscape. The Alkami platform offers a secure, modular solution that meets regulatory standards for financial institutions.

Alkami Technology, Inc. has appointed Alex Shootman as its new Chief Executive Officer, effective November 5, 2021. Shootman, who previously doubled revenue at Workfront, succeeds Mike Hansen, who will remain in an advisory role. Under Hansen's leadership, Alkami's value significantly increased, culminating in its IPO on Nasdaq earlier this year. Shootman aims to leverage his 20 years of executive experience to accelerate growth and innovation in digital banking solutions at Alkami, which serves over 280 financial institutions across the U.S.

Alkami Technology, a cloud-based digital banking solutions provider, reported its Q3 2021 results with total revenue of $39.8 million, representing a 37% year-over-year increase. The GAAP gross margin improved to 56.3%, up 390 basis points from the previous year, while the GAAP net loss narrowed to ($11.2) million. Alkami highlighted significant growth by acquiring MK Decision, expanding its addressable market by $2.5 billion, and securing six new digital banking clients. The platform now supports 11.4 million digital banking users, generating annual recurring revenue of $155 million.

Alkami Technology Inc. (Nasdaq: ALKT) has partnered with STAR Financial Bank to launch bitcoin trading services for its customers in Indiana. This innovative service allows clients to buy, sell, and manage bitcoin through STAR Bank's mobile app, utilizing NYDIG's platform for secure transactions. This integration aims to enhance customer experience and provides STAR Bank a competitive edge in digital banking, offering new opportunities for non-interest income and customer retention. Alkami's platform supports over 260 financial institutions, emphasizing its role in the evolving digital banking landscape.

Alkami Technology Inc. (Nasdaq: ALKT) announced it will report its third-quarter financial results on November 4, 2021, after market close. A conference call will follow at 5:00 p.m. ET to discuss these results. Alkami is recognized as a leading provider of cloud-based digital banking solutions for U.S. financial institutions, serving over 260 clients. The company's platform focuses on enhancing the digital banking experience and mitigating fraud, positioning it favorably against larger competitors.

Alkami Technology, Inc. (Nasdaq: ALKT) announces a long-term partnership with MainStreet Bank (Nasdaq: MNSB) to enhance its digital banking services. MainStreet Bank, with $1.7 billion in assets, aims to leverage the Alkami Platform for a seamless online experience tailored to customer needs. The collaboration emphasizes Alkami's strengths in technology innovation and customizability, enabling MainStreet Bank to rapidly introduce new services. This partnership marks a significant addition to Alkami's expanding client base, highlighting its position in the digital banking solutions market.

Alkami Technology Inc. (Nasdaq: ALKT) released a report titled "Digital Banking Market Pulse: The Increasing Importance of User Experience (UX)" based on a survey of 795 digital banking customers and 150 financial institutions. Key findings indicate that user experience is crucial for customer satisfaction, with over 80% prioritizing a quality online banking experience. However, only 40% of consumers feel their financial institutions understand their needs, highlighting a gap between expectations and delivery. The report emphasizes the need for financial institutions to align their services with evolving consumer demands.

Alkami Technology has partnered with BioCatch, a leader in behavioral biometrics, enhancing fraud protection for its bank and credit union clients. This collaboration enables Alkami's clients to use BioCatch's technology to differentiate between genuine users and fraudsters, thus improving security during digital transactions. With over 50 major financial institutions using BioCatch, this integration is set to offer a seamless user experience while safeguarding customer assets. Alkami’s Gold Partner Program supports this initiative, fostering valuable fintech connections.