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.
Alkami Technology Inc. (Nasdaq: ALKT) has partnered with STAR Financial Bank to launch bitcoin trading services for its customers in Indiana. This innovative service allows clients to buy, sell, and manage bitcoin through STAR Bank's mobile app, utilizing NYDIG's platform for secure transactions. This integration aims to enhance customer experience and provides STAR Bank a competitive edge in digital banking, offering new opportunities for non-interest income and customer retention. Alkami's platform supports over 260 financial institutions, emphasizing its role in the evolving digital banking landscape.
Alkami Technology Inc. (Nasdaq: ALKT) announced it will report its third-quarter financial results on November 4, 2021, after market close. A conference call will follow at 5:00 p.m. ET to discuss these results. Alkami is recognized as a leading provider of cloud-based digital banking solutions for U.S. financial institutions, serving over 260 clients. The company's platform focuses on enhancing the digital banking experience and mitigating fraud, positioning it favorably against larger competitors.
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.
Alkami Technology Inc. (Nasdaq: ALKT) released a report titled "Digital Banking Market Pulse: The Increasing Importance of User Experience (UX)" based on a survey of 795 digital banking customers and 150 financial institutions. Key findings indicate that user experience is crucial for customer satisfaction, with over 80% prioritizing a quality online banking experience. However, only 40% of consumers feel their financial institutions understand their needs, highlighting a gap between expectations and delivery. The report emphasizes the need for financial institutions to align their services with evolving consumer demands.
Alkami Technology has partnered with BioCatch, a leader in behavioral biometrics, enhancing fraud protection for its bank and credit union clients. This collaboration enables Alkami's clients to use BioCatch's technology to differentiate between genuine users and fraudsters, thus improving security during digital transactions. With over 50 major financial institutions using BioCatch, this integration is set to offer a seamless user experience while safeguarding customer assets. Alkami’s Gold Partner Program supports this initiative, fostering valuable fintech connections.
Alkami Technology, Inc. (Nasdaq: ALKT) has acquired MK Decisioning Systems, LLC for a total of $20 million upfront and up to an additional $25 million based on performance milestones. This acquisition expands Alkami's digital banking offerings, enhancing its capabilities in digital account opening and loan origination. The integration aims to boost cross-selling opportunities among a broader client base, with all MK employees retained. Alkami anticipates the acquisition will have an immaterial impact on its Q3 2021 financial results.
Alkami Technology Inc. (Nasdaq: ALKT) announced its 2021 Virtual Client Conference scheduled for September 14, aiming to address key issues in digital banking. CEO Mike Hansen highlighted the need for financial institutions to adapt in a rapidly changing landscape. The conference will feature interactive sessions, networking opportunities, and insights from industry leaders. A primary research report on user experience in digital banking will be unveiled, indicating that over 80% of consumers prioritize quality online banking. Alkami serves more than 260 financial institutions with a focus on digital transformation.
Alkami Technology reported strong Q2 2021 results with GAAP revenues of $36.7 million, up 38% year-over-year. Gross margin expanded significantly to 55.9%, while the net loss increased to ($11.4) million. The company added over 740,000 digital banking users, achieving a total of 10.7 million users and annual recurring revenue of $144.7 million with revenue per user at $13.48. Alkami's focus on innovation and market expansion positions it for future growth.
Alkami Technology, Inc. (Nasdaq: ALKT), a provider of cloud-based digital banking solutions, announced participation in two upcoming investor conferences. The KeyBanc Capital Markets Future of Technology Series will feature CEO Mike Hansen, CFO Bryan Hill, and VP Rhett Butler on August 10, 2021. Additionally, on August 18, 2021, Hill and Butler will engage in one-on-one meetings at the Needham & Company 3rd Annual Virtual FinTech & Digital Transformation Conference. A webcast of the KeyBanc presentation will be available on the Alkami investor relations page.
Alkami Technology Inc. (Nasdaq: ALKT) plans to report its second-quarter financial results for the period ending June 30, 2021, on August 4, 2021, after market close. A conference call will be held at 5:00 p.m. ET the same day to discuss the results. Alkami is recognized as a leading provider of cloud-based digital banking solutions for U.S. financial institutions, serving over 240 clients. The upcoming earnings report is highly anticipated by investors, providing insights into Alkami's growth and performance in the competitive digital banking landscape.
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