ORNL Federal Credit Union Partners with Alkami to Power Its Digital Banking Experience

Rhea-AI Summary

Alkami Technology (Nasdaq: ALKT) announces that ORNL Federal Credit Union is implementing the Alkami Platform to enhance its digital banking services. This collaboration aligns with Alkami's strategy to focus on retail and business banking through innovative solutions. The credit union's digital channel has seen a 24.2% increase over two years, contributing to a 57% active participation rate among members. Alkami's CEO highlighted ORNL FCU's leadership in the sector, while the credit union aims to provide advanced services like online loan applications and Bitcoin transactions, further solidifying its digital-first approach.

Positive

• ORNL FCU's digital channel grew 24.2% over the last two years.
• Active participation rate among members increased to 57%.
• Partnership enhances ORNL FCU's ability to provide innovative digital banking services.

Negative

• None.

Move to new digital banking platform supports credit union's strategic focus on retail and business banking

PLANO, Texas, April 19, 2022 /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 ORNL Federal Credit Union ("ORNL FCU") is implementing the Alkami Platform to amplify its digital banking experience with leading-edge digital tools and technology designed to help their members thrive.

"Our mission was to find a true, single platform that is innovative, customizable and offers a seamless user experience for our members," said Dawn Brummett, executive vice president and COO of ORNL FCU. "After vetting several providers, we chose to partner with Alkami because they brought the most advanced digital banking experience to the table and have a proven track record of continuous innovation and stability. Their ongoing guidance will help us stay ahead of the curve and empower our members to get the most out of their digital banking experience."

ORNL FCU's digital channel saw an 24.2% increase over the past two years, making it the largest "branch" of the credit union and bringing its active participation rate to 57% across its member base. This growth is expected to accelerate with the launch of the Alkami platform, which will improve the existing user experience and introduce new features and functionality that will attract new users.

Alkami's chief executive officer, Alex Shootman said, "We are thrilled to have ORNL FCU join the growing Alkami family. Our clients are among the most progressive financial institutions in the country, and ORNL FCU stands out as a leader in the space. It is exciting to have such dedicated and visionary clients whose digital-first mindset helps us push the envelope on what we can deliver to help fuel their growth."

"ORNL FCU is committed to providing our members with a best-in-class digital banking experience. From money movement and credit monitoring to online loan applications and Bitcoin services, our new platform helps us deliver on that promise," added ORNL FCU CEO Colin Anderson. "And, knowing we are partnering with a platform provider that has the knowledge, partnerships and extensibility to continue growing with us strategically ensures our ability to effectively cater to our members' digital needs now and into the future."

About ORNL Federal Credit Union

ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong. Established in 1948 with 10 founding members, ORNL FCU's assets have grown to over $3.3 billion and membership has grown to over 185,000. Membership is open to businesses and anyone who lives, works, worships, or attends school in 19 counties of East Tennessee.

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, loan origination, and multi-payment fraud prevention solutions. To learn more, visit www.alkami.com.

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

Katie Schimmel  
katie@outlookmarketingsrv.com

 

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SOURCE Alkami Technology, Inc.