Raiz Federal Credit Union Transforms Community Banking with Alkami's Digital Sales & Service Platform
Raiz Federal Credit Union’s use of Alkami’s platform sharply cuts onboarding times, raises digital engagement, and enhances fraud prevention for its members.
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Rhea-AI Summary
Alkami Technology (ALKT) released a case study showing how Raiz Federal Credit Union used its Digital Sales & Service Platform to modernize community banking and boost efficiency.
Raiz now uses Alkami’s Digital Banking Platform, MANTL Onboarding & Account Opening, and is implementing the Data & Marketing Solution. Account opening times fell from up to nine days online to about four minutes, and from 30–45 minutes in branch to under 10 minutes. Call-center funding dropped from two–three days to about nine minutes. Monthly digital login rates increased from 30% to 49%, while Alkami’s layered controls helped Raiz prevent more than $286,000 in reported fraud in the first year.
News Explained
Alkami's case study reports that Raiz had, by
Details
News Market Reaction – ALKT
On Sep 3, the day this news came out, ALKT closed 1.06% above the previous close.
Data tracked by StockTitan Argus for the Sep 3 session.
Key Figures
- Credit union members
- over 79,000 members
- Raiz Federal Credit Union
- Digital branches
- 9 branches
- Fully digital model by 2024
- Online account opening
- up to 9 days to approximately 4 minutes
- Online account opening time reduction
- In-branch account opening
- 30–45 minutes to under 10 minutes
- In-branch account opening time reduction
- Call-center funding
- 2 to 3 days to approximately 9 minutes
- Call-center funding time reduction
- Reported fraud prevented
- more than $286,000
- During the first year
- Monthly digital login
- 30% to 49%
- Raiz member digital engagement
Historical Context
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Customer platform launch was followed by a 2.31% 24-hour increase.
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Company ranking announcement was followed by a 0.89% 24-hour decline.
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Digital banking platform selection was followed by a 0.53% 24-hour decline.
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Conference registration announcement was followed by a 0.53% 24-hour decline.
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Data integration partnership was followed by a 0.59% 24-hour increase.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
New case study reveals how the
Raiz has expanded its relationship with Alkami to encompass the full Digital Sales & Service Platform. The credit union is live with the Alkami Digital Banking Platform and MANTL Onboarding & Account Opening, and is implementing Alkami's Data & Marketing Solution to support more personalized and relevant member engagement, and identify opportunities to deepen relationships through targeted product offers. By connecting onboarding and digital banking across online, branch and call-center channels, Raiz is improving access to everyday banking, reducing manual work for employees, and giving its team more time to focus on financial guidance and relationship-building.
"Alkami is helping us make banking more accessible, efficient, and connected for our members while preserving the Red Carpet service that defines Raiz," said Amy Krasikov, vice president of digital experience at Raiz. "We're proud to serve the
With a lean technology team focused on strategic priorities, Raiz sought a modern, integrated platform that could improve member access, streamline operations, and support stronger relationships. The new case study highlights how the credit union is extending its member-first experience beyond the branch.
With Alkami, Raiz has:
- Modernized its nine-branch experience: By 2024, all nine branches had transitioned to a fully digital model without traditional teller functions or cash drawers. Member service representatives can focus more on financial guidance and relationship-building, while routine transactions are supported through the Alkami Digital Banking Platform and enhanced self-service ATMs.
- Reduced the time needed to open and fund accounts: Online account opening decreased from up to nine days to approximately four minutes; in-branch account opening decreased from 30–45 minutes to under 10 minutes; and call-center funding decreased from two to three days to approximately nine minutes.
- Strengthened fraud prevention: Alkami's layered fraud prevention capabilities helped Raiz prevent more than
$286,000 - Increased digital engagement: Monthly digital login increased from
30% to49% .
"Raiz is demonstrating how community financial institutions can use technology to make banking easier and more accessible without losing the human connection that sets them apart," said Benjamin Conant, chief product officer at Alkami. "By connecting onboarding, digital banking, and data and marketing through Alkami's Digital Sales & Service Platform, Raiz is giving members more convenient ways to bank, helping employees spend more time on meaningful guidance and building a stronger foundation for long-term growth."
To learn more about how Raiz Federal Credit Union is building a digital-forward member experience with Alkami, read the full case study here.
To learn more about Anticipatory Banking and the Alkami Digital Sales & Service Platform, visit here.
About Alkami
Alkami provides a digital sales and service platform for
About Raiz Credit Union
At Raiz (pronounced as "rise"), our members and strong, vibrant community inspire us daily. We share a passion for knowledge and the pursuit of growth, grounded in our heritage as El Paso Area Teachers Federal Credit Union (TFCU). Today, we guide members from many professions to focus on their goals and help them get there. We're proud of our roots in El Paso (since 1936) as we envision a bold path forward, leading the way with passion. We are over 79,000 members strong and provide a full range of high-quality financial services at great rates and low costs you can expect from a first-class credit union. Join us and experience the difference that comes from working with people who care. Visit www.raiz.us/open to learn more. Raiz is Federally Insured by NCUA.
Media Relations Contacts
Vested
alkami@fullyvested.com
Marla Pieton
marla.pieton@alkami.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/raiz-federal-credit-union-transforms-community-banking-with-alkamis-digital-sales--service-platform-302868314.html
SOURCE Alkami Technology, Inc.
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