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Digital Banking Platform Recap: A Year in Review

2023’s highlights across client success, new leadership, digital banking platform & product innovation, and company culture.
As we kick off the new year we also wanted to take a moment and appreciate the highlights from last year, the successes, the milestones, the changes…Here we have compiled some of our proudest:
Honoring Our Clients’ Success
  • By the end of Q3, Alkami supported 16.9 million digital banking users at regional and community financial institutions! A 23% increase from Q3 2022.
  • Alkami clients achieved an average app store rating of 4.8.
  • Nearly twenty banks and credit unions participated in our newly launched FIsionariesTM Podcast, hosted by Jim Marous. Tune in as they tell their stories bringing digital banking excellence to light with strategies, insights, and technologies that elevate the entire financial landscape.
  • Congratulations to all of our clients who won industry awards this year! We love seeing your names in the news.
Assembling a Team of Growth-Minded Leaders

As we turned inward to see where we could better support our clients and become the best technology provider financial institutions could partner with, 2023 brought new faces to the Alkami leadership team!

In January, Deep Varma joined the Alkami team as Chief Technology Officer. Varma came to Alkami with over 20 years of Silicon Valley experience, where he built scalable and reliable distributed systems with underlying platform capabilities to serve high-performing traffic. He introduced our TechFin vision, a strategy that will empower Alkami’s technology teams to focus on delivering a reliable and highly performant platform that quickly scales and maintains resiliency as new trends and challenges emerge in the industry.  

In May, we welcomed Wayne McCulloch as our Chief Customer Officer. “Wayne brings a proven track record of optimizing the customer journey for some of the most respected software companies in the world, critical experience as Alkami scales in our next wave of growth,” said Alex Shootman, Chief Executive Officer of Alkami. “Perhaps more importantly, Wayne’s empathy for the customers he serves will further enhance Alkami’s customer-first culture.”

Designing A Digital Banking Platform Built to Scale

At our annual conference, Alkami Co:lab, we introduced our vision for the future – evolving digital banking from a simple service channel to the primary digital sales and service platform for banks and credit unions. By bringing all the components of Alkami’s product portfolio together, financial institutions can differentiate their digital banking experience, acquire new account holders, better protect accounts and institutional reputation, derive actionable insights, and strengthen banking relationships with personalized engagements and cross-sell offers.

Digital Banking Product Highlights of 2023:
  • Alkami launched our first Engagement AI Predictive Model which combines artificial intelligence, machine learning, and Alkami’s proprietary Key Lifestyle Indicators® to empower financial institutions with the tools needed to identify account holders who demonstrate behaviors most likely to lead to retention and account growth, and increase their engagement with products, service offerings, and digital channels.
  • Alkami went live on Plaid’s FDX aligned API, Core Exchange, enabling financial institutions to quickly scale secure and reliable financial data sharing, with minimal technical effort or resourcing.  
  • By making upSWOT a standard part of Alkami’s business banking solution, Alkami clients are better positioned to serve the financial wellness of their business account holders by providing them with the data aggregation, visualization, and analytics they need to grow their revenue.
  • Alkami introduced our Advanced Security Bundle to provide our clients with defense-in-depth. Through our partnerships with BioCatch and Appgate, clients can leverage behavioral biometrics and transaction anomaly detection to deliver continuous protection, actionable intelligence, and a frictionless user experience for their business and consumer account holders.
  • Alkami introduced the Data ROI Potential Dashboard, which quantifies how much your institution could earn in deposits, loans, or interchange revenue, simply by mining the transaction data you already have and activating it in market-proven campaigns.

While Alkami’s focused on elevating our platform’s capabilities, we’ve also grown our strategic partner ecosystem to ensure our clients can quickly introduce innovative solutions that exceed their account holders’ expectations. 

Our Newest Partners & Their Cutting-Edge Technologies:
  • Atomic provides financial institutions with a direct deposit switching solution that allows account holders to seamlessly connect their payroll accounts to any financial institution.
  • upSWOT delivers real-time business performance data, trends, and insights to financial institutions and business owners. 
  • Chimney reimagines the banking experience for homeowners by tapping into property data and home tracking within digital banking, giving them valuable insights into the equity of their property and their lending opportunities as a result.
  • Sequoir allows for a seamless integration with digital banking so financial institutions can offer the benefits of traditional financial products and services combined with the ability to buy, hold, and sell digital assets (cryptocurrency).
  • Eltropy is an enterprise-wide digital conversations solution designed to help financial institutions engage with members through Text, Video, Secure Chat, Co-browsing (web browser sharing), or other digital channels.
Celebrating Company Culture Milestones

At Alkami, we are passionate about our culture and people. We believe how you show up matters and by working collaboratively and celebrating accomplishments, we can win together. Similar to our customers’ focus on supporting local communities, Alkamists gathered outside of their day-to-day responsibilities to give back to their respective communities.

This year, Alkami was recognized for several awards that we’re incredibly proud of:

  • Best Places to Work in Fintech 2023 from American Banker – Top 50
  • Comparably Awards: Best Engineering Team, Best Product & Design Team, Best Leadership, Top 100 Best Company Happiness, Top 50 Best Work-Life Balance, Top 20 Best Perks and Benefits, Top 100 Best Compensation, Best Career Growth, and Best Diversity.
  • Best and Brightest Companies to Work for in DFW
  • Best and Brightest Companies to Work for in the Nation – Top 101
  • Alkami Named to IDC FinTech Rankings Top 100
  • Named Partner of the Year by AMOCO Federal Credit Union
Alkami Research

This year Alkami broadened our research agenda to better inform our product roadmap, and most importantly, to provide banks and credit unions with actionable intelligence and strategies on how to take your financial institution to the next level. In case you missed them, here are some of the top pieces of content from 2023:

  1. The 2024 Playbook: Budgeting & Strategies for Financial Institutions
  2. Alkami Report: The Influence of Macro Economy on Consumer Behavior
  3. eBook: The 4 Elements of a Powerful Digital Sales & Service Platform
  4. eBook: How Banks and Credit Unions Can Attract and Retain Gen Z
  5. Data Bites: Easy to digest but mighty insightful charts we publish weekly, examining transaction behaviors demonstrated across more than 1 million account holders.
Planning for the Future

In 2024, we look forward to engaging with financial institutions and our technology partners in upcoming webinars and in-person events. Follow us on LinkedIn to keep up with the latest Alkami news. We will be releasing more research, thought-leadership content, regular episodes of our FIsionariesTM Podcast featuring visionary leaders from America’s regional and community banks and credit unions, and more.

Last but not certainly not least, we cannot wait to see you all again at Alkami Co:lab on April 8-10, 2024. We’re bringing the best credit union, bank, fintech partners, industry analyst, and consultant minds together to learn, inspire, and forge the connections needed to take account holder satisfaction, return on investment, and business growth strategies to the next level. Plus, you won’t want to miss our amazing Keynote speakers this year: Blake Leeper, Jim Marous and Ron Shevlin. Register here

We are truly inspired by our remarkable client community and look forward to another year of digital banking innovation.

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