Adoption of Alkami's Data & Marketing Solutions Grows as Demand for Personalized Digital Banking Experiences Increases

Financial institutions using Alkami's Data & Marketing Solutions attain 13X ROI on average

PLANO, Texas, June 5, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced that the number of new contracts signed by financial institutions for Alkami's Data & Marketing Solutions have increased a total of 76.5% for 2022 and 2023 combined compared to contract signings for the previous two-year-period (2020 and 2021 combined). This momentum comes as regional and community banks and credit unions face increased pressure to provide a top tier digital banking experience for account holders, and search for innovative marketing, data and artificial intelligence (AI)-driven solutions to help them deliver a digital sales and service platform.

"Alkami's Data & Marketing Solutions have allowed us to better understand our account holders, and in turn, better serve them," said Cayla Keyes, vice president and retail sales manager at INB, National Association. "In addition, being able to accurately measure engagement with campaigns and see who are using competitive products empowers us to more relevantly build marketing messaging that in turn, drives more ROI."

Through Alkami's Data & Marketing Solutions, banks and credit unions can leverage clean, tagged transaction data to uncover actionable insights, create personalized banking experiences, drive user engagement and deepen relationships with account holders. The solutions include:

• Alkami's Transaction Data Cleansing which transforms complex transaction descriptions into simple, usable merchant names, categories and logos. As a result, financial institutions can outsource their transaction data analysis through an automated, accurate, daily data cleansing process.
• Alkami's Customer Insights & Marketing Automation which helps banks and credit unions predict what account holders are going to do next, and then transform those insights into personalized marketing campaigns. This solution also automates marketing campaign reporting, allowing marketers to quickly adapt to campaign engagement and better target initiatives.
• Alkami's AI Predictive Models which use machine learning and AI to predict account holder behavior by using data to identify daily shifts in spend categories and financial patterns. This ultimately helps predict account holders' financial behaviors and needs, empowering financial institutions to identify and then further engage with those who demonstrate behaviors most likely to lead to retention and account growth.

"Alkami's data-driven solutions, including the customer insights and market automation tool, have allowed us to quickly adapt to campaign engagement and shift our resources to where they are most beneficial," said Steve Zich, chief marketing officer at Capital Credit Union. "In today's competitive environment, our marketing professionals must be data savvy to achieve results. Solutions like these that allow us to act nimbly will be key to our continued growth."

As U.S. financial institutions become more digitally mature to remain competitive in a fragmented, evolving market, all facets of their operations are becoming more technology and data-driven – and marketing is no exception.

"More than ever, revenue growth and data are intertwined for financial institutions. As our recent Digital Sales & Service Maturity Model research found, a hallmark of the most digitally advanced financial institutions is the democratization of data-fueled decisions. Data underpins the individualized experiences that account holders are looking for today, and it is essential that financial institution leaders transform to the data-informed digital banker that leverages this crucial resource to drive their financial institutions forward," said Nate Shahan, vice president, product management at Alkami. "Alkami is proud to provide these solutions that enable banks and credit unions of all sizes to achieve the highest level of digital maturity with data."

To learn more about Alkami's Data & Marketing Solutions, visit here.

About Alkami
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly, and build thriving digital communities. Alkami helps clients transform through retail and commercial banking, digital account opening, and data and marketing solutions. To learn more, visit www.alkami.com.

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SOURCE Alkami Technology, Inc.