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Choosing the Right Digital Banking Platform Provider

Arkansas Federal Credit Union

Stacy Starks, SVP of business initiatives and digital services at Arkansas Federal Credit Union (AFCU), discusses their transition to the Alkami digital banking platform. Before implementing Alkami’s digital banking platform, AFCU experienced instability and minimal innovation with their previous provider. This prompted a need for an accountable, innovative partner rather than just a platform vendor. They sought a digital banking platform that could offer stability, innovative features, and strong client support. In their vendor search, AFCU found that Alkami stood out from the rest due to their technology usage of Amazon Web Services (AWS), responsiveness to client needs, and the availability of self-service tools like the Alkami client community, which encourages and facilities collaboration among clients as well as provides transparency into product release and roadmap information. The decision to switch to Alkami was further reinforced by their transparent communication, commitment to listening and truly understanding the client needs, and a supportive client success team. This partnership has allowed AFCU to stabilize and improve their digital solutions and offer their members a digital banking platform they can be proud of.

To summarize three key takeaways from Alkami’s conversation with Stacy from AFCU about selecting the right partner for their digital banking platform, Stacy outlined:

  1. Criteria for Choosing the Right Digital Partner:
    • AFCU emphasizes the importance of identifying clear requirements and nice-to-haves when selecting a digital banking provider. This clarity aids in effectively assessing vendors and ensuring that the chosen partner can meet specific needs that solve challenges for members and the credit union’s back-office, as seen with their decision to go with Alkami due to its adoption of AWS, innovative partner ecosystem, and ability to grow at scale.  
  2. Value of Transparency and Mutual Respect:
    • AFCU’s partnership with Alkami thrives on open communication and mutual respect, aspects that were evident even during the initial stages of engagement with Alkami. Their transparency about challenges and how they address them is crucial for building trust and accountability in the relationship.
  3. Collaborative Ecosystem via Alkami’s Client Community Platform:
    • Alkami’s client community platform enhances the partnership by enabling AFCU to connect with other credit unions, facilitating collaboration and digital banking platform best practices. This platform is particularly valued for its ability to help AFCU find peers with similar goals and challenges, enhancing their ability to innovate and improve services collaboratively.


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