Webinar explores how financial institutions can prepare, while educating employees and account holders
September 11, 2024 (Plano, Texas) – Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., recently held its latest webinar, “A Banking Executive Masterclass: Preparing for Open Banking in the United States,” which explores the impact of open banking on financial institutions and account holders, and delivers prescriptive guidance for bank and credit union executives on the path to preparation.
The masterclass via a webinar brought together Deep Varma, chief technology officer at Alkami, Jamie Lang, product owner at Alkami and Tyler Brown, senior research analyst at CCG Catalyst, who shared critical insights on how open banking is likely to reshape financial services, empower and create efficiency for consumers, and spur enhanced experiences for account holders. In addition, Varma and Brown provided guidance for financial institutions on how to prepare their employees and account holders – with education being critical across the board.
Open banking promises significant benefits for financial institutions and their account holders, but many bank and credit union leaders are looking for direction on how to prepare for this movement. “Our industry must educate itself on open banking so we can, in turn, educate consumers – because financial institutions need to start building awareness with their account holders now,” said Varma. “Financial institution partners must also be prepared for this shift. At Alkami, our developer-first mindset, investment in high-quality data, and best-in-class APIs (application programming interfaces) position us well to scale for the demand for open banking solutions we are likely to see in the coming years.”
This webinar comes amidst increased open banking regulation, such as the upcoming launch of a new rule to recognize open banking standards by the Consumer Financial Protection Bureau (CFPB). Regulations such as these highlight the acceleration and importance of the shift to open banking in the U.S.
“Consumer demand is driving the push for open banking. While upcoming regulations will enforce it, the industry is moving in this direction because consumers want control over their data,” said Brown. “For financial institutions, open banking is not something to passively observe – it is coming faster than many anticipate, and now is the time for financial institution leaders to start these conversations.”
“It is critical for financial institutions to stay ahead of developments in open banking,” said Lang, who hosted the webinar. “Alkami is proud to provide resources like this which arm financial institutions with essential insights as they navigate this transformative change.”
The webinar is available for viewing here.
Alkami has been certified by J.D. Power for providing “An Outstanding Mobile Banking Platform Experience.”*
About CCG Catalyst
CCG Catalyst is a premier bank consulting and research advisory firm, dedicated to helping financial institutions navigate the evolving financial landscape with strategic guidance and innovative solutions. With a deep industry expertise, CCG Catalyst empowers banks, credit unions, and fintechs to achieve sustainable growth and success. To learn more, visit www.ccgcatalyst.com.
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