Towpath Credit Union Transforms their Digital Banking Experience with Alkami's Solutions
Alkami Technology (Nasdaq: ALKT) announced that Towpath Credit Union has successfully implemented its Digital Banking Platform, completing a comprehensive digital transformation. The Ohio-based credit union replaced its core systems and adopted Alkami's Data & Marketing Solution, resulting in significant improvements in member engagement and business metrics.
Key achievements include over 800 members switching to e-documents, $2.6 million in auto loan business, and an increase in product adoption from 1.7 to 2.45 products per member. The credit union reported a 15% year-over-year revenue growth and improved efficiency ratio despite increased technology investments.
Alkami Technology (Nasdaq: ALKT) ha annunciato che Towpath Credit Union ha completato con successo l'implementazione della sua Piattaforma di Banking Digitale, portando a termine una trasformazione digitale completa. La credit union dell'Ohio ha sostituito i suoi sistemi core e adottato la Soluzione Dati e Marketing di Alkami, ottenendo notevoli miglioramenti nell'engagement dei membri e negli indicatori aziendali.
Tra i risultati principali si segnalano oltre 800 membri passati ai documenti elettronici, 2,6 milioni di dollari nel business dei prestiti auto e un aumento dell'adozione di prodotti da 1,7 a 2,45 prodotti per membro. La credit union ha registrato una crescita del fatturato del 15% anno su anno e un miglioramento del rapporto di efficienza nonostante gli investimenti tecnologici aumentati.
Alkami Technology (Nasdaq: ALKT) anunció que Towpath Credit Union ha implementado con éxito su Plataforma de Banca Digital, completando una transformación digital integral. La cooperativa de crédito de Ohio reemplazó sus sistemas centrales y adoptó la Solución de Datos y Marketing de Alkami, logrando mejoras significativas en la participación de los miembros y en los indicadores comerciales.
Los logros clave incluyen más de 800 miembros que cambiaron a documentos electrónicos, 2,6 millones de dólares en negocios de préstamos para autos y un aumento en la adopción de productos de 1,7 a 2,45 productos por miembro. La cooperativa reportó un crecimiento de ingresos del 15% interanual y una mejora en la relación de eficiencia a pesar del aumento en las inversiones tecnológicas.
Alkami Technology (나스닥: ALKT)는 Towpath Credit Union이 자사의 디지털 뱅킹 플랫폼을 성공적으로 도입하여 포괄적인 디지털 전환을 완료했다고 발표했습니다. 오하이오에 기반을 둔 이 크레딧 유니언은 핵심 시스템을 교체하고 Alkami의 데이터 및 마케팅 솔루션을 채택하여 회원 참여와 비즈니스 지표에서 큰 향상을 이루었습니다.
주요 성과로는 800명 이상의 회원이 전자 문서로 전환, 260만 달러의 자동차 대출 사업, 그리고 회원당 제품 채택 수가 1.7개에서 2.45개로 증가한 점이 있습니다. 크레딧 유니언은 전년 대비 15%의 매출 성장과 기술 투자 증가에도 불구하고 효율성 비율 개선을 보고했습니다.
Alkami Technology (Nasdaq : ALKT) a annoncé que Towpath Credit Union a réussi à mettre en œuvre sa plateforme bancaire numérique, achevant ainsi une transformation digitale complète. La coopérative de crédit basée dans l'Ohio a remplacé ses systèmes centraux et adopté la solution de données et marketing d'Alkami, entraînant des améliorations significatives dans l'engagement des membres et les indicateurs commerciaux.
Parmi les réalisations clés figurent plus de 800 membres passant aux documents électroniques, 2,6 millions de dollars d'affaires en prêts automobiles et une augmentation de l'adoption des produits de 1,7 à 2,45 produits par membre. La coopérative a rapporté une croissance du chiffre d'affaires de 15 % d'une année sur l'autre et une amélioration du ratio d'efficacité malgré des investissements technologiques accrus.
Alkami Technology (Nasdaq: ALKT) gab bekannt, dass die Towpath Credit Union ihre Digitale Banking-Plattform erfolgreich implementiert und damit eine umfassende digitale Transformation abgeschlossen hat. Die in Ohio ansässige Kreditgenossenschaft ersetzte ihre Kernsysteme und übernahm Alkamis Daten- und Marketinglösung, was zu erheblichen Verbesserungen bei der Mitgliederbindung und den Geschäftszahlen führte.
Zu den wichtigsten Erfolgen zählen über 800 Mitglieder, die auf elektronische Dokumente umgestiegen sind, 2,6 Millionen US-Dollar im Autokreditgeschäft sowie eine Steigerung der Produktakzeptanz von 1,7 auf 2,45 Produkte pro Mitglied. Die Kreditgenossenschaft meldete ein jährliches Umsatzwachstum von 15 % und eine verbesserte Effizienz trotz erhöhter Technologieinvestitionen.
- Product adoption increased from 1.7 to 2.45 products per member
- Revenue growth of 15% year-over-year
- Generated $2.6 million in auto loan business
- Improved efficiency ratio despite technology investments
- Successfully converted 800+ members to e-documents
- None.
Insights
Alkami's partnership with Towpath Credit Union demonstrates measurable success with 15% revenue growth and increased product adoption, validating their digital banking strategy.
Alkami's announcement about Towpath Credit Union's digital transformation showcases a comprehensive implementation that replaced core systems, digital banking, loan origination, and document management infrastructure. The results demonstrate clear quantifiable success metrics that investors should note: product adoption increased from 1.7 to 2.45 products per member, revenue grew
The implementation's financial impact is further quantified by
For Alkami investors, this case study provides valuable proof points of the platform's ability to deliver tangible financial returns for financial institutions. The J.D. Power certifications for "An Outstanding Mobile Banking Platform Experience" in both 2024 and 2025 add third-party validation to Alkami's value proposition. The comprehensive nature of this implementation (replacing multiple legacy systems) highlights Alkami's ability to capture larger contract values through full-scale digital transformations rather than just point solutions, potentially driving higher average revenue per user and stickier client relationships.
Towpath is also leveraging Alkami's Data & Marketing Solution to deepen member engagement and deliver targeted, needs-based campaigns. By using real-time behavioral insights, Towpath connects members with timely offers—such as auto loan recapture, debt consolidation, and e-statement adoption—that support their financial well-being. Since their implementation, these efforts have resulted in over 800 members switching to e-documents and an estimated
Towpath's leadership team set out to eliminate digital limitations and provide a frictionless experience that could compete with any financial provider—without sacrificing the personal service that defines the credit union's local roots.
"We didn't want a lack of digital capability to be a reason someone chose not to bank with us," said Michael Sferro, president and chief executive officer of Towpath. "With Alkami, we found the right combination of innovation, reliability, and scalability that allows us to offer a no-compromise solution. Our members now have the tools they need and the experience they expect—all in one place."
Since launch, Towpath's enhanced digital tools—including integrated card controls, SavvyMoney® credit score monitoring, transaction enrichment, and account aggregation—are delivering a more intuitive, personalized experience. The platform is helping the credit union deepen relationships and engage members in new, meaningful ways. Product adoption rose from 1.7 to 2.45 products per member. Revenue is up 15 percent year-over-year, and the credit union's efficiency ratio has improved despite increased investment in technology.
"Towpath Credit Union's approach reflects the type of forward-thinking leadership we're proud to support," said Taylor Adkins, vice president, product management at Alkami. "Their team didn't just implement new technology—they made strategic moves to future-proof their institution while staying true to their community-first mission. We're honored to be their partner on that journey."
To explore the Towpath Credit Union case study for more details, visit here.
To learn more about Alkami's Digital Banking Platform, visit here.
Alkami has been certified by J.D. Power in 2024 and 2025 for providing "An Outstanding Mobile Banking Platform Experience."1
About Alkami
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in
About Towpath Credit Union
Towpath Credit Union is a full-service financial cooperative that provides an effective and viable alternative to for-profit financial institutions for more than 26,000 Members. Towpath Credit Union's mission is to pave pathways to modern financial opportunities that uplift the community. With four branches spanning
Media Relations Contacts
Vested
alkami@fullyvested.com
Marla Pieton
marla.pieton@alkami.com
____________________ |
1 J.D. Power 2025 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/towpath-credit-union-transforms-their-digital-banking-experience-with-alkamis-solutions-302505796.html
SOURCE Alkami Technology, Inc.
FAQ
What results has Towpath Credit Union achieved using Alkami's (ALKT) digital banking platform?
What new features did Alkami (ALKT) implement for Towpath Credit Union?
How has Alkami's (ALKT) platform improved Towpath Credit Union's digital capabilities?
What certifications has Alkami (ALKT) received for its banking platform?
