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Alkami Helps Banking Leaders Combat Emerging Check and Real-time Payments Fraud

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Alkami Technology (Nasdaq: ALKT) hosted a webinar focusing on emerging fraud threats in check and real-time payments. The session highlighted that 65% of organizations report check fraud, while real-time payments are projected to grow 33% annually to $277 billion by 2032. Industry experts from Alkami, Alacriti, and ABNB Federal Credit Union discussed strategies for strengthening security frameworks through proactive fraud mitigation and layered defense approaches. The webinar emphasized the importance of compliance management systems and third-party risk management in maintaining security and regulatory compliance, particularly as 82% of U.S. consumers use platforms like Zelle, Venmo, and Cash App.

Alkami Technology (Nasdaq: ALKT) ha ospitato un webinar incentrato sulle nuove minacce di frode nei pagamenti tramite assegno e nei pagamenti in tempo reale. La sessione ha evidenziato che il 65% delle organizzazioni riporta frodi su assegni, mentre i pagamenti in tempo reale sono previsti in crescita del 33% all'anno, arrivando a $277 miliardi entro il 2032. Esperti del settore di Alkami, Alacriti e ABNB Federal Credit Union hanno discusso strategie per rafforzare i sistemi di sicurezza attraverso la mitigazione proattiva delle frodi e approcci a difesa stratificata. Il webinar ha sottolineato l'importanza dei sistemi di gestione della conformità e della gestione del rischio dei fornitori terzi nel mantenere la sicurezza e la conformità normativa, soprattutto considerando che l'82% dei consumatori statunitensi utilizza piattaforme come Zelle, Venmo e Cash App.

Alkami Technology (Nasdaq: ALKT) organizó un seminario web centrado en las nuevas amenazas de fraude en cheques y pagos en tiempo real. La sesión destacó que el 65% de las organizaciones reportan fraudes con cheques, mientras que se proyecta que los pagos en tiempo real crecerán un 33% anual, alcanzando los $277 mil millones para 2032. Expertos de la industria de Alkami, Alacriti y ABNB Federal Credit Union discutieron estrategias para fortalecer los marcos de seguridad mediante la mitigación proactiva del fraude y enfoques de defensa en capas. El seminario web enfatizó la importancia de los sistemas de gestión de cumplimiento y la gestión del riesgo de terceros para mantener la seguridad y el cumplimiento regulatorio, especialmente dado que el 82% de los consumidores en EE. UU. utiliza plataformas como Zelle, Venmo y Cash App.

알카미 테크놀로지 (Nasdaq: ALKT)는 수표 및 실시간 결제의 새로운 사기 위협에 초점을 맞춘 웨비나를 개최했습니다. 세션에서는 65%의 조직이 수표 사기를 보고했다고 강조했으며, 실시간 결제는 2032년까지 연간 33% 성장하여 2,770억 달러에 이를 것으로 예상된다고 합니다. 알카미, 알라크리티 및 ABNB 연방신용조합의 업계 전문가들이 사전 사기 완화 및 다층 방어 접근 방식을 통해 보안 프레임워크를 강화하는 전략을 논의했습니다. 웨비나는 미국 소비자 82%가 Zelle, Venmo 및 Cash App과 같은 플랫폼을 사용하는 점에서, 보안 및 규제 준수를 유지하는 데 있어 준수 관리 시스템과 제3자 위험 관리의 중요성을 강조했습니다.

Alkami Technology (Nasdaq: ALKT) a animé un webinaire axé sur les nouvelles menaces de fraude liées aux chèques et aux paiements en temps réel. La session a mis en avant que 65% des organisations signalent des fraudes aux chèques, alors que les paiements en temps réel devraient croître de 33% par an pour atteindre 277 milliards de dollars d'ici 2032. Des experts du secteur d'Alkami, d'Alacriti et de l'ABNB Federal Credit Union ont discuté des stratégies pour renforcer les cadres de sécurité grâce à une atténuation proactive des fraudes et des approches de défense en couches. Le webinaire a souligné l'importance des systèmes de gestion de la conformité et de la gestion des risques des tiers pour maintenir la sécurité et la conformité réglementaire, en particulier puisque 82% des consommateurs américains utilisent des plateformes comme Zelle, Venmo et Cash App.

Alkami Technology (Nasdaq: ALKT) veranstaltete ein Webinar, das sich auf neue Betrugsbedrohungen bei Schecks und Echtzeitzahlungen konzentrierte. Die Sitzung betonte, dass 65% der Organisationen von Scheckbetrug berichten, während die Echtzeitzahlungen voraussichtlich jährlich um 33% auf 277 Milliarden Dollar bis 2032 wachsen. Branchenexperten von Alkami, Alacriti und ABNB Federal Credit Union erörterten Strategien zur Stärkung von Sicherheitsrahmen durch proaktive Betrugsbekämpfung und mehrschichtige Verteidigungsansätze. Das Webinar hob die Bedeutung von Compliance-Management-Systemen und der Verwaltung von Drittanbieterrisiken für die Aufrechterhaltung von Sicherheit und regulatorischer Compliance hervor, insbesondere da 82% der Verbraucher in den USA Plattformen wie Zelle, Venmo und Cash App nutzen.

Positive
  • Certified by J.D. Power for outstanding mobile banking platform experience
  • Strategic positioning in growing real-time payments market projected to reach $277B by 2032
  • Strong partnership ecosystem enhancing fraud defense capabilities
Negative
  • Operating in high-risk environment with 65% of organizations reporting check fraud
  • Increasing exposure to fraud risks due to rapid growth in real-time payments

Insights

This webinar-focused announcement, while addressing important industry concerns around payment fraud, does not contain material financial or business impact information that would significantly affect investor decisions. The content primarily discusses educational aspects and general industry trends without specific actionable business outcomes or financial metrics for Alkami.

While the statistics about payment fraud and market growth are interesting (33% annual growth in real-time payments, projected to reach $277 billion by 2032), this is background market data rather than company-specific performance information. The webinar format and educational nature of the content classify this as a routine corporate communication rather than market-moving news.

Industry experts unveil strategies in webinar to tackle emerging fraud threats as real-time payments surge and check fraud remains a leading risk

PLANO, Texas, Oct. 23, 2024 /PRNewswire/ -- 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, "Banking on Security: Check & Real-Time Payments Fraud," aimed at helping financial institutions address emerging fraud threats that are increasingly impacting consumer and business accounts.

This webinar examined the rising risks of check fraud and real-time payments fraud, two areas where financial institutions are experiencing significant challenges. A panel of experts from Alkami, Alacriti, and ABNB Federal Credit Union shared real-world examples and discussed actionable strategies to strengthen security frameworks through proactive fraud mitigation and a layered defense approach.

In addition to fraud strategies, Dennis Irwin, chief compliance officer at Alkami, emphasized the importance of a compliance management system (CMS) in maintaining security and regulatory compliance. "A compliance management system helps ensure we stay compliant, mitigate fraud, and enhance security. It's not just about preventing fraud but also maintaining a strong reputation and minimizing financial risks," Irwin explained. Irwin further noted that a well-structured CMS includes thorough third-party risk management to ensure ongoing due diligence as well as continuous monitoring throughout the vendor lifecycle.

Check fraud continues to be a major concern, with 65% of organizations reporting fraud involving checks, making it the payment method most prone to attacks. In parallel, fraudsters are increasingly targeting faster payment rails, exploiting the speed of transactions to commit fraud before digital banking solutions can respond. With 82% of U.S. consumers using platforms like Zelle, Venmo, and Cash App, real-time payments are contributing to a new wave of fraud risks, further highlighting the need for vigilant fraud management by financial institutions.

Brad Cranford, director, product management at Alkami, emphasized the urgency of these threats noting, "Fraud, security, and compliance in digital banking solutions are more critical than ever, with bad actors constantly devising new ways to exploit vulnerabilities. Financial institutions must stay ahead with layered, proactive defense strategies to safeguard their customers and members."

The rise of real-time payments presents both opportunities and challenges for financial institutions. With real-time payments projected to grow by 33% annually, reaching $277 billion by 2032, there are substantial opportunities for enhancing payment offerings. However, this rapid growth also introduces new fraud risks. Mark Majeske, senior vice president of faster payments at Alacriti highlighted this balance explaining, "Instant payments offer incredible potential for improving payment offerings, but they also introduce new challenges in fraud management. This webinar is essential for understanding how to integrate real-time payments seamlessly while staying ahead of emerging fraud threats."

Cassandra Tucker, director of operations at ABNB Federal Credit Union, spoke about how partnering with Alkami and its extensive partner ecosystem has enhanced ABNB's fraud defenses. "Working with Alkami has helped us navigate the growing complexity of fraud risks by providing us with cutting-edge tools to protect our members. Their expertise has been crucial in ABNB's efforts to combat fraud, especially in areas like check fraud and real-time payments."

The webinar is available for viewing here.

To learn more about Alkami's security and fraud solutions, click here.

Alkami has been certified by J.D. Power for providing "An Outstanding Mobile Banking Platform Experience."1

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 data and marketing solutions. To learn more, visit www.alkami.com.

About Alacriti
Alacriti stands at the forefront of payments innovation, delivering comprehensive payment and money movement solutions to financial institutions. Our commitment is to empower our clients and their users with seamless, easy-to-use, and secure real-time payment experiences across all preferred channels, rails, types, and devices. Alacriti's innovative solution provides cutting-edge payment technologies that integrate effortlessly with existing infrastructures. Discover more about how we are transforming payments at Alacriti.com.

About ABNB Federal Credit Union
ABNB Federal Credit Union is a full-service financial institution headquartered in Hampton Roads, Virginia and northeastern North Carolina providing personal and business banking services to its members regionally and across the country. With fifteen region-wide branches, a nationwide network of shared credit union branches and surcharge-free ATMs across the country, ABNB currently serves over 72,000 members. For more information visit ABNBfcu.org.

Media Relations Contacts
Vested
alkami@fullyvested.com

Marla Pieton
marla.pieton@alkami.com

1J.D. Power 2024 Mobile App Platform Certification ProgramSM recognition is based on successful completion of an audit and exceeding a customer experience benchmark through a survey of recent servicing interactions. For more information, visit www.jdpower.com/business/awards.

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SOURCE Alkami Technology, Inc.

FAQ

What are the key fraud risks Alkami (ALKT) is addressing in 2024?

Alkami is addressing check fraud, which affects 65% of organizations, and real-time payments fraud through digital banking solutions and layered defense strategies.

What is the projected growth rate for real-time payments according to Alkami (ALKT)?

Real-time payments are projected to grow by 33% annually, reaching $277 billion by 2032.

How many U.S. consumers use real-time payment platforms according to Alkami's (ALKT) webinar?

According to the webinar, 82% of U.S. consumers use real-time payment platforms like Zelle, Venmo, and Cash App.

Alkami Technology, Inc.

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