Welcome to our dedicated page for Alkami Technology news (Ticker: ALKT), a resource for investors and traders seeking the latest updates and insights on Alkami Technology stock.
Alkami Technology, Inc. (Nasdaq: ALKT) is a leading cloud-based digital banking solutions provider headquartered in Plano, Texas. The company offers cutting-edge online and mobile banking solutions designed to serve credit unions and banks. Its flagship product, the Alkami Platform, known as the ORB Platform, provides financial institutions with a future-proof digital banking experience characterized by unmatched security, flexibility, extensibility, and superior architecture.
The ORB Platform stands out for its modern user interface, intelligent content delivery system, and customizable features. It enables financial institutions to efficiently onboard and engage users, accelerate revenue streams, and enhance operational efficiency through a true cloud-based, multi-tenant architecture.
Alkami's recent collaboration with Greylock Federal Credit Union exemplifies its commitment to digital transformation. This partnership has empowered Greylock Federal to enhance its retail, business, and mobile banking offerings while providing an intuitive and seamless user experience. Additionally, the new Digital Sales & Service Maturity Model Assessment launched by Alkami allows banks and credit unions to measure and improve their digital maturity.
On the financial front, Alkami has showcased robust performance with a notable increase in revenue and user base. In Q1 2024, the company reported GAAP total revenue of $76.1 million and a significant rise in digital banking users, with 18.1 million live registered users.
Moreover, Alkami's innovative partnerships, like the one with SWIVEL, have further enhanced its product offerings. This collaboration introduced advanced loan payment capabilities, providing greater choice, speed, and flexibility to account holders.
Alkami's focus is not only on current solutions but also on the future of banking technology. The introduction of the SDK Wizard “Merlin” at the 2024 Alkami Co:lab conference underscores its commitment to technological advancements, offering developers a streamlined environment to create custom digital banking functionalities.
As a recognized leader in the industry, Alkami continues to support financial institutions in their digital transformation journey, helping them stay competitive and deliver superior digital banking experiences to their account holders.
On November 15, 2022, Alkami Technology, Inc. (Nasdaq: ALKT) announced a strategic partnership with FINBOA, Inc. to distribute FINBOA's payment dispute management software. This collaboration aims to enhance Alkami's service offerings for banks and credit unions, helping them manage electronic payment disputes more efficiently. FINBOA's solution automates compliance processes, potentially reducing claim-related losses by up to 25% and processing time by up to 90%. The partnership is anticipated to improve operational efficiencies and customer experience across financial institutions.
Alkami Technology, Inc. (Nasdaq: ALKT) reported third quarter 2022 revenues of $53.4 million, marking a 34% increase year-over-year. However, the company experienced a GAAP net loss of $(20.0) million, up from $(11.2) million the previous year. The gross margin decreased to 52% from 56%, while Annual Recurring Revenue (ARR) grew 38% year-over-year, reaching $214 million. The quarter saw the addition of ten new clients and an increase to 13.7 million users, reflecting Alkami's expanding market presence.
Alkami Technology, Inc. (Nasdaq: ALKT) has revealed keynote speakers for its annual conference, Co:lab 2023, scheduled for April 3-5, 2023, in Grapevine, TX. The event aims to gather industry leaders to discuss critical trends and strategies in digital banking. Keynote speakers include Jim Marous, Scott Klososky, and Michael Jr., who will share insights on the future of financial services. The conference will also feature breakout sessions focusing on retail banking, business banking, and data analytics, promoting collaboration and innovation within the financial sector.
Alkami Technology, Inc. (Nasdaq: ALKT), a premier provider of cloud-based digital banking solutions, will present at the Citi FinTech Conference on November 14, 2022. This event will feature CEO Alex Shootman and CFO Bryan Hill. Attendees can access a webcast and replay through Alkami's investor relations website. Alkami enables financial institutions to enhance their digital banking capabilities, offering solutions in areas like retail and business banking, loan origination, and data analytics.
Alkami Technology, Inc. (Nasdaq: ALKT), a provider of cloud-based digital banking solutions, will release its third-quarter financial results for the period ending September 30, 2022, on November 3, 2022, post-market close. A conference call is scheduled for the same day at 5:00 p.m. ET, during which Alkami will discuss its financial performance with investors. A live webcast will be available on the company’s investor relations page, and a replay of the event will also be accessible.
Alkami Technology (NASDAQ: ALKT) announced that ABNB Federal Credit Union has implemented the BioCatch solution via the Alkami Platform, enhancing fraud prevention for its members. The technology utilizes behavioral biometrics to detect fraudulent activities by analyzing user behavior, thereby providing real-time protection against online threats. The implementation comes in response to rising fraud incidents amid increasing digital banking usage. BioCatch's innovative approach aims to deliver a secure and seamless banking experience while minimizing risks for financial institutions.
Alkami Technology, Inc. (Nasdaq: ALKT) announced the release of its research report titled "Five Trends Driving the Digital Banking Landscape", focusing on how financial institutions are enhancing customer experience through technology. The report reveals insights from a survey of 152 executives, highlighting five key trends including the rise of cashless transactions, slow cryptocurrency adoption, and opportunities in micropersonalization. The findings aim to guide financial institutions in their digital transformation efforts.
Alkami Technology (Nasdaq: ALKT), a leader in cloud-based digital banking solutions, will present at the KeyBanc Capital Markets Technology Leadership Forum on August 8, 2022. The event features CEO Alex Shootman and CFO Bryan Hill. A webcast and replay will be available for investors via investors.alkami.com.
About Alkami: The company offers innovative solutions to financial institutions for growth and adaptation in digital banking.
Alkami Technology (Nasdaq: ALKT), a leader in cloud-based digital banking solutions, will report its Q2 financial results for the period ending June 30, 2022, on August 3, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET for investors to discuss the results, which will include a live webcast and dial-in options. Alkami continues to support U.S. banks and credit unions in enhancing their digital offerings, aimed at fostering growth and adapting to market changes.
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