Long-term Alkami clients beat counterparts in significant financial measures, according to Alkami Co: lab 2023, which investigated upcoming trends in digital banking and data analytics.
Fremont, CA: Alkami Technology is a primary provider of cloud-based digital banking solutions for financial institutions in the United States, enabling customers to expand boldly, adapt fast, and create flourishing digital communities. Through retail & business banking, digital account opening, payment security, data analytics, and marketing solutions, Alkami assists clients in transforming.
"Consumers don't want a digital bank. They want their bank to digitize. That is why Alkami is focusing investment in three key areas: extending the user experience and reliability of the digital banking application, expanding the capabilities within the Alkami platform, and unleashing the power of data for each of our FIs," said Alex Shootman, Alkami chief executive officer, during his kickoff keynote.
Alkami's strategic aim is to go beyond digital banking by encouraging product uptake and user engagement, all while harnessing data to offer a next-generation sales and service platform that generates revenue and reduces costs for financial institutions.
"Alkami will offer specialized data and advertising technology to make it simple for financial institutions to deliver personalized customer & member experiences," Shootman added.
Last week, Alkami Technology, Inc. concluded Alkami Co: lab 2023 in Grapevine, TX, after presenting a vision of digital banking's future, centered on assisting financial institutions (FIs) in using data to customize account holder interactions, expanding, and maintaining their companies. Alkami introduced the "TechFin" idea, differentiation from the FinTech industry: a technology business that produces financial solutions, with Alkami's ultimate objective of providing the principal digital banking Sales and Service Platform for FIs.
Deep Varma, chief technology officer at Alkami, stated, "Technology is one of the most powerful weapons in our arsenal that enables us to move at the pace of consumer demand as they are in the driver's seat, and moving to TechFin allows us to focus on a technology platform to build financial solutions at scale."
As Alkami customers lead the market via a growth mentality and digital innovation, the transition to the digital banking channel as the most effective way of creating income occurs. Using third-party data, Alkami compared its clients' financial performance to its FI rivals using other digital banking systems. Alkami clients that have operated on the platform for at least a decade have outperformed their counterparts on significant financial indicators like deposit growth, loan development, return on equity, return on assets, and revenue growth, according to FI Navigator statistics. Alkami and its clients will remain market leaders, leading the next step of digital banking improvement: linking sales and service to enable personalization at scale.
