Alkami Technology, Inc. Stock Price, News & Analysis

Alkami Technology has released its 2024 Telemetry Data Report, which examines the impact of high interest rates on U.S. consumers and financial institutions. The report is based on transaction data from over 2.5 million account holders and a survey of 1,500 digital banking consumers. Key findings include that 67% of Americans report a significant impact on their living standards due to rising interest rates, with 59% living paycheck to paycheck. Mortgage originations have declined by 72.5% from December 2020 to December 2023, while HELOC balances rose by 31.7% from December 2021 to December 2023. Auto loan payments increased by 57.1% from December 2019 to December 2023, and CD openings surged by 10.8x from Q4 2021 to Q1 2023. Credit card payments increased by 19% since 2020, and BNPL users grew 5.17x from 2019 to 2023. The report aims to help financial institutions understand and navigate these trends to improve customer loyalty and digital banking experiences.

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.

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.

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.

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.

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.

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.

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.