Liberty Bank Selects Alkami for Digital Banking Platform

Rhea-AI Summary

Alkami Technology Inc. (Nasdaq: ALKT) announced a long-term contract with Liberty Bank of Middletown, Connecticut, a bank with over $7 billion in assets. This partnership aims to enhance Liberty Bank's digital banking capabilities and provide customers with a seamless experience through the Alkami Platform. Liberty Bank seeks to innovate and meet customer demands for personalized banking. Alkami's CEO expressed enthusiasm about the collaboration, emphasizing the alignment of visions between the two organizations.

Positive

• Long-term contract with Liberty Bank enhances client portfolio.
• Partnership aims to improve digital banking offerings.
• Liberty Bank has over $7 billion in assets, indicating financial stability.

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• None.

PLANO, Texas, May 4, 2021 /PRNewswire/ -- Alkami Technology Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., announced today that Liberty Bank of Middletown, Connecticut has signed a long-term contract to leverage the Alkami Platform. The Connecticut-based bank holds more than $7 billion in assets and represents yet another addition to Alkami's growing list of bank clients.

With a fintech landscape that is rapidly scaling and added pressure from mega and challenger banks, Liberty Bank sought a partner to help them compete in a digital banking landscape that's constantly evolving. Dave Mitchell, EVP, GM and Chief Digital Officer at Liberty Bank, cited two strategic objectives that led them to the Alkami Platform: cultivate a culture of innovation and provide extraordinary customer experiences.

"Our customers expect an anytime, anywhere, highly personalized banking experience that rivals that of media, entertainment, and online shopping," Mitchell said. "We needed a partner who could provide the ability to add new features and functions quickly with an open digital banking platform. Alkami's deep expertise in retail and business banking translates into platform innovations like extensibility with APIs, an expansive software development kit, plus a modern UX with cybersecurity tools and world-class data centers. In addition, their unique one-platform approach for both retail and business banking gives us confidence that we'll be able to provide a seamless experience to our entire customer base."

Alkami CEO Mike Hansen said, "We are thrilled to welcome Liberty Bank to our remarkable client community. Our Alkamists wake up every day focused on one thing: designing and delivering the best digital banking experiences for businesses and consumers of financial institutions. We are excited for the opportunity to provide Liberty Bank with the platform that will power their digital innovations and outstanding services to their business and retail customers. The Liberty Bank team is well aligned with us in both vision and values, and we look forward to the future with this leading financial institution."

About Liberty Bank
Established in 1825, Liberty Bank is Connecticut's oldest bank, with over $7 billion in assets and 64 offices throughout the central, eastern, western and shoreline areas of the state. As a full-service financial institution, Liberty offers consumer and commercial banking, home mortgages, insurance, and investment services. Named a 'Top Workplace' for nine consecutive years, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement. www.liberty-bank.com.

About Alkami
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the U.S. that offers digital banking and fraud protection services to more than 225 banks and credit unions. Alkami's bold investments in people and technology enable remarkable financial institutions to grow confidently, adapt quickly and build thriving digital communities. Alkami was recognized in 2018, 2019 and 2020 as a Deloitte Technology Fast 500 company in North America.

To learn more about Alkami or to request a demo visit alkami.com.

Media Relations Contact
Jennifer Cortez
jennifer.cortez@alkami.com

Audrey Pennisi
audrey@outlookmarketingsrv.com 

Adam Jeamel
AJeamel@liberty-bank.com 

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SOURCE Alkami Technology, Inc.

FAQ

What is the significance of Alkami partnering with Liberty Bank?

The partnership aims to enhance Liberty Bank's digital banking capabilities, providing them with a competitive edge in the evolving fintech landscape.

What does the Alkami Platform offer Liberty Bank?

The Alkami Platform provides features for digital banking, including APIs, software development kits, cybersecurity tools, and a seamless experience for both retail and business banking.

When was the contract between Alkami and Liberty Bank announced?

The contract was announced on May 4, 2021.

How much in assets does Liberty Bank have?

Liberty Bank has over $7 billion in assets.

What is the stock symbol for Alkami Technology?

The stock symbol for Alkami Technology is ALKT.