Last week marked the return to an in-person annual conference experience with Alkami Co:lab 2022. But we designed Co:lab to be more than a conference—it’s the intersection of collaboration and innovation where our Alkamists, remarkable clients, fintech partners, and other digital banking leaders can shape the future of digital banking.
The pace of digital banking innovation requires regional and community financial institutions to leverage the power of the collective to not just stay competitive now, but to establish what’s next for the industry. We gathered to share our challenges, solutions, and to anticipate the future. Together, we connected with and learned from the best to innovate and lay the path for the rest of the industry to follow.
And it all happened at The Gaylord Texan in Grapevine, Texas.
Innovation is a team sport
If you weren’t attending in-person, you might have caught the livestream of our general sessions, featuring our CEO Alex Shootman and CMO Allison Cerra.
Alex opened it up with a talk on money, innovation, and collaboration. He summed up the conference’s theme by saying,
“We believe that innovation will always change money. We believe that a majority of that innovation will be driven by a desire for portability, security, and utility. And we are inspired to both lead and adopt innovation because we believe money can be a source of hope for the people that we jointly serve.”
It’s true that we embrace innovation from wherever it may originate. Allison explored that idea further with a look at emerging small business reliance on innovative fintechs, and how Alkami digital banking products can disintermediate those budding relationships. She revealed new Alkami-exclusive research, illustrating that,
“Small businesses, particularly those that have been born or transformed during COVID, are the new “tweeners” in the market. Like consumers, they prefer frictionless, intuitive experiences. Like big businesses, they demand security and fraud controls. Alkami’s research shows that the top two most important criteria in a small business’s ideal bank or credit union are the latest fraud protection services and a robust online banking platform. These two factors topped a list of 12, including customer service, convenient branch and ATM locations, and being a good community citizen, to name just a few.”
Breakout the innovation
Co:lab wasn’t just full of great speakers like Alkami leadership, generations researcher Jason Dorsey, Cornerstone Advisors’ Ron Shevlin, and finance futurist Brett King. We had plenty of breakout sessions to get our attendees ready to change the game when they got back home. Our sessions followed these tracks:
Attendees learned how to provide users with cutting edge tools in peer-to-peer payments, card management, account aggregation, rewards, and financial wellness. FIs in attendance were able to take their user’s banking journey to the next level with industry insights about crypto, customer service, buy now, pay later (BNPL), security and fraud prevention, and artificial intelligence.
Businesses are more loyal to banks and credit unions that help them efficiently manage their finances in a simple way. FIs who attended these sessions learned to leverage industry-leading payment, transaction monitoring, data analytics, reporting, fraud prevention, and automated billing tools to future-proof their FI for business users.
Account Opening & Loan Origination
In the age of immediacy, consumers expect seamless onboarding for everyday financial products like deposit accounts, credit cards, and loans. How can FIs support users digitally while exceeding their expectations? Industry experts in these sessions answered that question in discussions on emerging trends in account opening, loan origination, and contactless payments.
Marketing, Data & Extensibility
Providing customers or members with a modern digital banking experience is no longer an option, but a requirement. Our attendees gained a competitive advantage with marketing tools and valuable insights into the latest advancements in data analytics and extensibility. Attendees learned how a platform ecosystem built for innovation empowers them with the technology to support the future generation of users.
Thanks to all who made it possible
We loved hosting everyone in person this year and providing a live stream of our general sessions! We’re looking forward to seeing everyone in person at next year’s Co:lab, to be held April 3 – 5, 2021. In the meantime, we’re providing access to Co:lab sessions on demand following the live event for those unable to attend in person.
To our attendees, we hope you enjoyed engaging with us, our remarkable client community, and our tech partners. Thank you for attending and participating. Finally, thank you to our sponsors. We could not have done it without you!