Alkami Telemetry Data Reveals Emerging Tech Adoption Themes

Rhea-AI Summary

Alkami Technology, Inc. (Nasdaq: ALKT) has released proprietary data focused on emerging technology adoption, providing insight into consumer behavior patterns for cryptocurrency usage. The research aims to help financial institutions understand account holders' behavior and anticipate future needs. Alkami's Telemetry Research uncovered intelligence, strategic insight, and behavioral trends within account holder transactions, sourced from a panel of over 2.5 million account holders and 1.5 billion transactions.

Insights

Financial Analyst

The analysis of transaction data by Alkami Technology to uncover consumer behavior trends is a strategic move that could potentially enhance the services offered by financial institutions. The focus on emerging technology adoption, such as the increase in paid ChatGPT usage, the monitoring of VR headset adoption and the tracking of cryptocurrency transactions, indicates a shift in consumer preferences that banks must adapt to. The data showing a decline in payments sent to cryptocurrency exchanges may reflect a cooling interest or increased regulatory scrutiny, which could impact banks' strategies in offering crypto-related services.

Furthermore, the growth in public EV charger usage signifies an expanding market that financial institutions might capitalize on, by offering loans or investment products tailored to the green economy. The decline in at-home DNA testing could indicate market saturation or privacy concerns, which may affect investment strategies in biotech firms. Overall, these trends can inform financial institutions in product development, risk management and customer engagement strategies, potentially affecting their profitability and stock performance.

Market Research Analyst

Alkami's telemetry research is indicative of broader market trends that could influence product development and marketing strategies for financial institutions. The rise in paid ChatGPT usage suggests a growing market for AI-driven services, which banks could integrate into their customer service operations to enhance user experience and efficiency. The interest in VR headsets may prompt banks to explore immersive digital banking solutions to gain a competitive edge.

The data on EV charger usage points to a societal shift towards sustainable living and financial products that support eco-friendly initiatives could see increased demand. These insights are valuable for financial institutions to tailor their offerings and marketing campaigns to align with consumer behavior and technological advancements, ultimately impacting their market share and growth prospects.

Technology Adoption Expert

The trends highlighted by Alkami's research underscore the importance of technology adoption in the financial sector. The significant increase in paid ChatGPT subscribers reflects a high consumer interest in conversational AI, which financial institutions could leverage for automated customer interactions, potentially reducing costs and improving service quality. The observation of VR headset interest suggests that financial institutions should prepare for a future where digital banking could extend into virtual spaces, necessitating investments in VR-compatible platforms.

The decline in cryptocurrency transactions may signal a need for banks to reassess their digital asset strategies, while the uptick in EV charger usage indicates a market opportunity for financial products related to electric vehicles. These insights can guide technology investment decisions and innovation roadmaps for financial institutions looking to stay ahead in a rapidly evolving digital landscape.

Financial institutions can leverage transaction data to uncover the financial health and patterns of account holders

PLANO, Texas, Feb. 6, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., recently released proprietary data focused on emerging technology adoption, providing insight into areas such as how much consumers utilize these new technologies along with behavior patterns for cryptocurrency usage.

Alkami Telemetry Research uncovers intelligence, strategic insight, and behavioral trends within account holder transactions to inform regional and community banks and credit unions. Alkami Telemetry Data was sourced from a panel of more than 2.5 million account holders and over 1.5 billion transactions.

Alkami's research into consumer adoption of emerging technology trends is designed to help financial institutions understand their account holders' behavior and better anticipate future needs. The research findings include:

• Paid ChatGPT usage is on the rise, with the launch of ChatGPT creating a 5.5x increase of OpenAI subscribers in the spring of 2023.
• Virtual reality headsets are a tech category to watch. If VR headsets do hit critical mass, consumers may expect immersive VR app experiences for interfaces like digital banking.
• Total payments sent to cryptocurrency exchanges through the end of 2023 declined in comparison to Alkami's 2022 research.
• Public electric vehicle (EV) charger usage, while still nascent, grew significantly in 2022 and 2023.
• At-home DNA testing is slowly on the decline.

"These insights about consumer spending on emerging tech are based upon Alkami's deep expertise in transaction enrichment and analysis. Financial institutions can uncover useful spending patterns, competitive intelligence, and financial health cues within their own data with the help of experts in transaction enrichment and analysis," said Mark Leher, director, product management at Alkami. "This intelligence can be used as a driver for financial institutions to ensure relevant messaging and outreach to account holders through digital channels."

Alkami's Customer Insights product, part of its Data and Marketing Solutions, provides actionable insights derived from account holder transaction data that can inform smarter marketing strategies and drive more personalized engagements.

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

Media Relations Contacts
Vested
alkami@fullyvested.com

Marla Pieton
marla.pieton@alkami.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/alkami-telemetry-data-reveals-emerging-tech-adoption-themes-302054747.html

SOURCE Alkami Technology, Inc.

FAQ

What is the ticker symbol for Alkami Technology, Inc.?

The ticker symbol for Alkami Technology, Inc. is ALKT.

What type of data did Alkami release?

Alkami released proprietary data focused on emerging technology adoption, providing insight into areas such as consumer behavior patterns for cryptocurrency usage.

How many account holders were included in Alkami's Telemetry Data?

Alkami's Telemetry Data was sourced from a panel of more than 2.5 million account holders.

What does Alkami's research aim to help financial institutions with?

Alkami's research aims to help financial institutions understand their account holders' behavior and better anticipate future needs.

What are some of the emerging technology trends identified by Alkami's research?

Some of the emerging technology trends identified include the rise of Paid ChatGPT usage, the potential impact of VR headsets, declining cryptocurrency exchange payments, and the growth of public electric vehicle charger usage.