MainStreet Bank Selects Alkami to Power Its Digital Banking Transformation

Rhea-AI Summary

Alkami Technology, Inc. (Nasdaq: ALKT) announces a long-term partnership with MainStreet Bank (Nasdaq: MNSB) to enhance its digital banking services. MainStreet Bank, with $1.7 billion in assets, aims to leverage the Alkami Platform for a seamless online experience tailored to customer needs. The collaboration emphasizes Alkami's strengths in technology innovation and customizability, enabling MainStreet Bank to rapidly introduce new services. This partnership marks a significant addition to Alkami's expanding client base, highlighting its position in the digital banking solutions market.

Positive

• MainStreet Bank has signed a long-term contract with Alkami, enhancing its digital banking capabilities.
• Alkami's platform facilitates quick deployment of new services tailored to customer needs.
• The partnership expands Alkami's client portfolio, potentially boosting revenue.

Negative

• None.

PLANO, Texas, Oct. 20, 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 MainStreet Bank (Nasdaq: MNSB) has signed a long-term contract to leverage the Alkami Platform to transform its digital banking solution and bring new services rapidly online. MainStreet Bank represents a significant addition to Alkami's growing list of clients.

"Our online and mobile banking technology has been a differentiator for several years, but over time the experience was becoming disjointed," said Jeff W. Dick, chairman and CEO of MainStreet Bank, which has $1.7 billion of assets and is based in Fairfax, Virginia. "Our customers want a state-of-the-art, seamless digital banking experience, so we chose to partner with a best-of-breed platform that will be uniquely ours and tailored to a brilliant customer experience."

Karly Tomlin, vice president of user experience at MainStreet Bank, said the bank selected Alkami because of its collaborative approach and agility in bringing new services to market. "Alkami offers an open ecosystem that is easily customized so that we can create a bespoke experience for our customers," Tomlin said.

Technology innovation has been part of MainStreet Bank's core identity since its earliest days, which is exemplified in the bank's "branch-lite" technology strategy. This helps the bank make good on its commitment to provide a superior customer experience anywhere, anytime.

Alkami CEO Mike Hansen said, "We are thrilled to welcome MainStreet Bank to our remarkable client community. Like our own Alkamists, MainStreet Bank is focused on thinking beyond the traditional banking footprint and is committed to empowering its customers with digital innovations and outstanding services. We are excited for the opportunity to provide MainStreet Bank with the platform necessary to turn these goals into reality."

About Main Street Bank
MainStreet Bank is a $1.7 billion-asset business-focused community bank headquartered in Fairfax, Virginia, with branches in Herndon, Fairfax City, McLean, Clarendon, Leesburg and Washington, D.C. The Bank is not restricted by a conventional branching system, as it offers business customers the ability to Put Our Bank in Your Office^®. From sophisticated cash management to enhanced mobile banking and instant-issue debit cards, MainStreet Bank is always looking for ways to improve its customer experience.

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. The Alkami Platform is the digital banking and fraud mitigation platform of choice for over 260 financial institutions. Alkami's investments have resulted in a premium platform that has enabled it to replace older, larger and better-funded incumbents and provide clients with world-class experiences reflecting their individual digital strategies.

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

Audrey Pennisi 
audrey@outlookmarketingsrv.com

 

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SOURCE Alkami Technology, Inc.

FAQ

What is the significance of MainStreet Bank partnering with Alkami Technology?

The partnership allows MainStreet Bank to enhance its digital banking services using Alkami's advanced platform, improving customer experience.

How does the Alkami Platform benefit MainStreet Bank?

The Alkami Platform enables MainStreet Bank to quickly introduce new, customized digital banking solutions to meet customer demands.

What are the financial metrics of MainStreet Bank?

MainStreet Bank has assets totaling $1.7 billion, indicating its stability and capacity for investment in technology.

What impact does this partnership have on Alkami's market position?

This partnership strengthens Alkami's market position by adding another significant client and showcasing its ability to deliver innovative digital solutions.