Alkami and Array Form Partnership to Help Banks and Credit Unions Increase Digital Engagement

Rhea-AI Summary

Alkami Technology, Inc. (NASDAQ: ALKT) has announced a partnership with Array, a financial innovation platform, to enhance its digital banking solutions. This collaboration will enable Alkami to offer Array's products, including My Credit Manager and ID Protect, to its clients, aiming to improve user engagement and revenue for banks and credit unions. Alkami's platform provides comprehensive digital solutions for user onboarding and account servicing, while Array focuses on financial literacy and credit management, promoting safer banking experiences for account holders.

Positive

• Partnership with Array enhances Alkami’s digital banking solutions.
• Offers Array's products to improve user engagement and potential revenue.
• Provides comprehensive solutions for user onboarding, engagement, and account servicing.

Negative

• None.

PLANO, Texas--(BUSINESS WIRE)-- Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., today announced a partnership with Array, a leading financial innovation platform. As part of the partnership, Alkami will offer Array products to Alkami’s client base including My Credit Manager, ID Protect and Offers Engine.

“Improving the digital-first banking experience is a top priority for banks and credit unions,” said Stephen Bohanon, Founder, Chief Strategy & Product Officer of Alkami. “Our partnership with Array enables banks and credit unions to provide added-value products to account holders, which increases engagement and potentially revenue as well.”

The Alkami platform provides financial institutions with a complete digital banking solution for user onboarding, engagement, and account servicing. Alkami clients can enhance the platform with upgrades and can tailor the experience with additional Alkami products as well as third-party solutions like Array.

The Array platform supports financial literacy and offers solutions that help account holders understand, manage and protect their credit. With My Credit Manager, users can receive score change alerts, interact with a score simulator, view credit score factors and debt analysis components. ID Protect includes identity monitoring, insurance and restoration services that help keep users safe from fraud. This includes Dark Web monitoring, alerts and identity theft restoration services.

In addition, Alkami’s institutional clients can leverage Offers Engine to market their services to account holders. It helps banks and credit unions target users with actionable offers that are based on the user’s individual credit-data attributes and matched to appropriate credit products, resulting in greater relevance and likelihood of approval.

“The time is now for community banks and credit unions to accelerate their digital transformation so they can continue to offer a differentiated level of personal service,” said Martin Toha, co-founder and CEO of Array. “Today’s success formula for personal service includes a mix of in-branch experiences and digital tools that add value to account holders every time they log in. Alkami and Array are making it easier than ever to help banks and credit unions deploy a consistent roadmap of innovative digital products for account holders.”

For more information, clients are advised to contact their Alkami representative.

About Array

Array is a leading financial innovation platform that helps digital brands, financial institutions, and fintechs get compelling consumer products and features to market quickly. Array's products improve financial literacy and increase digital engagement with customers. Array's platform enables its clients to deepen their relationships with customers and better understand their needs to deliver critical information at the right time. The company has customers across multiple market segments serving millions of active users. Array was founded in 2020 by Martin Toha and Phillip Zedalis and its investors include Battery Ventures, General Catalyst, and Nyca Partners. To learn more visit www.array.com.

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 business banking, digital account opening and loan origination, multi-payment fraud prevention, and data analytics and engagement solutions. To learn more, visit www.alkami.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220608006224/en/

Jennifer Cortez

jennifer.cortez@alkami.com

Katie Schimmel

katie@outlookmarketingsrv.com

Katherine Rappoport

pr@array.com

Source: Alkami Technology, Inc.

FAQ

What is the recent partnership related to ALKT?

Alkami Technology, Inc. (ALKT) partnered with Array to enhance its digital banking solutions by offering Array's financial products.

Which products will Alkami offer through its partnership with Array?

Alkami will offer products like My Credit Manager, ID Protect, and Offers Engine to its clients.

How will the partnership with Array benefit Alkami's clients?

The partnership aims to improve user engagement for banks and credit unions, potentially increasing their revenue.

What is the focus of Array's platform in relation to Alkami?

Array's platform promotes financial literacy and offers solutions for credit management to enhance user safety.