Welcome to our dedicated page for Alkami Technology news (Ticker: ALKT), a resource for investors and traders seeking the latest updates and insights on Alkami Technology stock.
Alkami Technology, Inc. (Nasdaq: ALKT) is a technology company that provides a digital sales and service platform for U.S. banks and credit unions, and its news flow reflects this focus on digital banking, onboarding, and data-driven engagement. Company announcements highlight developments across the Alkami Platform, including enhancements for developers, new solution launches, and updates to its partner ecosystem.
Recent news includes the launch of the One-Click Software Development Kit (SDK) Manager, a self-service deployment tool for developers building on the Alkami Digital Banking Platform. Alkami has also introduced Alkami Foundry, a centralized hub for technology leaders, developers, and fintech partners who want deeper insight into the Platform, engineering practices, and integrations. These updates illustrate how Alkami communicates changes that affect developer experience and extensibility.
Alkami’s news also covers solution adoption and partnerships. The company has reported that more than 500 financial institutions are live with its Positive Pay Solutions, reflecting demand for ACH and check fraud protection and commercial onboarding workflows. MANTL, an Alkami solution team focused on loan and deposit account opening, appears frequently in news about partnerships with banks and technology providers, including collaborations that integrate identity, fraud prevention, and real-time liability data into account opening and loan origination.
In addition, Alkami regularly announces details about Alkami Co:lab, its multi-day conference for financial institution leaders and partners. News items describe breakout tracks, keynote speakers, and sessions such as Women in Banking, emphasizing themes like Anticipatory Banking, security and compliance, data and marketing, and the technology powering digital banking. Investors and industry observers can use the ALKT news feed to follow product updates, customer milestones, partnerships, and event-related announcements from the company.
Alkami Technology (NASDAQ: ALKT) has released a new study on business digital maturity in banking, conducted with Jim Marous and Emerald Research Group. The survey of 150 digital decision makers from U.S. banks and credit unions revealed that institutions leading in digital maturity are growing nearly 10 times faster than less advanced peers.
The research identified three key pillars of digital maturity: user experience, employee productivity, and mindset/culture. While larger institutions often lead in digital maturity, the study found that 20% of digital leaders have less than $1 billion in assets, demonstrating that smaller institutions can excel in digital transformation.
Alkami Technology (Nasdaq: ALKT) announced that Gate City Bank has implemented Alkami's comprehensive Digital Banking Platform. The partnership includes the launch of retail and business banking solutions, Positive Pay & ACH Reporting, and digital account opening capabilities. The platform provides Gate City Bank's customers with self-service tools, personalized user experience, and enhanced security features including payment fraud prevention.
The platform enables financial institutions to drive growth and cross-sell opportunities while offering businesses real-time transaction visibility and streamlined account management. Gate City Bank aims to enhance its digital banking experience through this partnership, leveraging Alkami's technology to compete with larger institutions.
Kemba Credit Union has partnered with Alkami Technology (Nasdaq: ALKT) to launch its digital banking platform for both retail and business members. The platform provides intuitive self-service tools, personalized user experience, enhanced member engagement, and advanced fraud detection capabilities. Through Alkami's single platform experience, Kemba aims to drive growth in new deposit accounts, enhance cross-sell opportunities, and strengthen loyalty. The platform's extensibility solutions, including SDK and APIs, will allow Kemba to customize their digital banking platform and connect with fintech ecosystem functionality.
Alkami Technology (Nasdaq: ALKT) announced the pricing of a secondary offering of 7,500,000 shares of common stock by selling stockholders including General Atlantic, S3 Ventures Fund III, George B. Kaiser, and Brian R. Smith. The underwriter, J.P. Morgan Securities , has a 30-day option to purchase an additional 1,125,000 shares. The offering is expected to close on November 8, 2024. Alkami will not receive any proceeds from this offering as all proceeds will go to the selling stockholders. The offering is being made through an effective shelf registration statement filed with the SEC.
Alkami Technology (Nasdaq: ALKT) announced a secondary offering of 7,500,000 shares of common stock by selling stockholders including entities affiliated with General Atlantic, S3 Ventures Fund III, George B. Kaiser, and Brian R. Smith. The selling stockholders may grant underwriters a 30-day option to purchase up to 1,125,000 additional shares. J.P. Morgan Securities is acting as the sole underwriter. Alkami will not receive any proceeds from the offering as all net proceeds will go to the selling stockholders. The offering is being made through an effective shelf registration statement filed with the SEC.
Alkami Technology (Nasdaq: ALKT) has achieved the top position in credit union market share among digital banking providers, according to FI Navigator data. The company's success is evidenced by superior performance metrics of their credit union clients, who showed stronger deposit, loan, and revenue growth from January 2020 to June 2024 compared to peers. Additionally, Alkami's Mobile Platform recently received J.D. Power certification for 'An Outstanding Mobile Banking Platform Experience,' outperforming industry benchmarks across 146 best practices in mobile app development, design, and operational performance.
Alkami Technology (ALKT) reported strong Q3 2024 results with total revenue of $85.9 million, up 26.9% year-over-year. The company improved its GAAP gross margin to 58.9% from 54.0%, while non-GAAP gross margin reached 62.8%. GAAP net loss narrowed to $(9.4) million from $(15.5) million, and Adjusted EBITDA increased to $8.3 million from $0.8 million.
The company added nine new digital banking clients and renewed 14 existing clients. Live registered users grew by 2.6 million to 19.5 million compared to the prior year. Alkami was recognized as the top digital banking provider in credit union market share by FI Navigator.
Alkami Technology (Nasdaq: ALKT) hosted a webinar focusing on emerging fraud threats in check and real-time payments. The session highlighted that 65% of organizations report check fraud, while real-time payments are projected to grow 33% annually to $277 billion by 2032. Industry experts from Alkami, Alacriti, and ABNB Federal Credit Union discussed strategies for strengthening security frameworks through proactive fraud mitigation and layered defense approaches. The webinar emphasized the importance of compliance management systems and third-party risk management in maintaining security and regulatory compliance, particularly as 82% of U.S. consumers use platforms like Zelle, Venmo, and Cash App.
Alkami Technology, Inc. (Nasdaq: ALKT) has been named the 2024 winner of the 'Best Banking App' category in Tearsheet's The Big Bank Theory Awards. This recognition highlights Alkami's superior Mobile Banking Platform and industry-leading user experience powered by data. The award comes at a time when high-quality mobile application experiences are important in the financial services industry.
Key features of Alkami's platform include:
- Advanced telemetry data for real-time user experience insights
- Cross-platform development framework for consistent experiences across iOS and Android
- Mobile-first features like Snapshot, Remote Deposit Capture, P2P payments, and Bill Pay
Alkami was also recently categorized as a 2024 IDC FinTech Rankings Top 100 solution provider and has been certified by J.D. Power for providing 'An Outstanding Mobile Banking Platform Experience.'
Alkami Technology, Inc. (Nasdaq: ALKT), a leading cloud-based digital banking solutions provider for U.S. financial institutions, has announced plans to report its third quarter 2024 financial results on Wednesday, October 30, 2024, after the market close. The company will host a conference call at 5:00 p.m. ET the same day to discuss the results with investors.
A live webcast of the event will be available on the Alkami investor relations website at investors.alkami.com. Additionally, a live dial-in will be accessible domestically at 1-800-836-8184 and internationally at 1-646-357-8785, using conference code 68447. The webcast replay will also be available on the Alkami investor relations website for those unable to attend the live event.
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