Financial institutions using Alkami's Data
& Marketing Solutions attain 13X ROI on average
PLANO,
Texas, June 5, 2024 /PRNewswire/ -- Alkami
Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based
digital banking solutions provider for financial institutions
in the U.S., announced that the number of new contracts signed by
financial institutions for Alkami's Data & Marketing Solutions
have increased a total of 76.5% for 2022 and 2023 combined compared
to contract signings for the previous two-year-period (2020 and
2021 combined). This momentum comes as regional and community banks
and credit unions face increased pressure to provide a top tier
digital banking experience for account holders, and search for
innovative marketing, data and artificial intelligence (AI)-driven
solutions to help them deliver a digital sales and service
platform.
"Alkami's Data & Marketing Solutions have allowed us to
better understand our account holders, and in turn, better serve
them," said Cayla Keyes, vice
president and retail sales manager at INB, National Association.
"In addition, being able to accurately measure engagement with
campaigns and see who are using competitive products empowers us to
more relevantly build marketing messaging that in turn, drives more
ROI."
Through Alkami's Data & Marketing Solutions, banks and
credit unions can leverage clean, tagged transaction data to
uncover actionable insights, create personalized banking
experiences, drive user engagement and deepen relationships with
account holders. The solutions include:
- Alkami's Transaction Data Cleansing which transforms
complex transaction descriptions into simple, usable merchant
names, categories and logos. As a result, financial institutions
can outsource their transaction data analysis through an automated,
accurate, daily data cleansing process.
- Alkami's Customer Insights & Marketing Automation which
helps banks and credit unions predict what account holders are
going to do next, and then transform those insights into
personalized marketing campaigns. This solution also automates
marketing campaign reporting, allowing marketers to quickly adapt
to campaign engagement and better target initiatives.
- Alkami's AI Predictive Models which use machine learning and AI
to predict account holder behavior by using data to identify daily
shifts in spend categories and financial patterns. This ultimately
helps predict account holders' financial behaviors and needs,
empowering financial institutions to identify and then further
engage with those who demonstrate behaviors most likely to lead to
retention and account growth.
"Alkami's data-driven solutions, including the customer insights
and market automation tool, have allowed us to quickly adapt to
campaign engagement and shift our resources to where they are most
beneficial," said Steve Zich, chief
marketing officer at Capital Credit Union. "In today's competitive
environment, our marketing professionals must be data savvy to
achieve results. Solutions like these that allow us to act nimbly
will be key to our continued growth."
As U.S. financial institutions become more digitally mature to
remain competitive in a fragmented, evolving market, all facets of
their operations are becoming more technology and data-driven – and
marketing is no exception.
"More than ever, revenue growth and data are intertwined for
financial institutions. As our recent Digital Sales &
Service Maturity Model research found, a hallmark of the most
digitally advanced financial institutions is the democratization of
data-fueled decisions. Data underpins the individualized
experiences that account holders are looking for today, and it is
essential that financial institution leaders transform to the
data-informed digital banker that leverages this crucial resource
to drive their financial institutions forward," said Nate Shahan, vice president, product management
at Alkami. "Alkami is proud to provide these solutions that enable
banks and credit unions of all sizes to achieve the highest level
of digital maturity with data."
To learn more about Alkami's Data & Marketing Solutions,
visit here.
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 commercial banking, digital account opening, and
data and marketing solutions. To learn more, visit
www.alkami.com.
Media Relations Contacts
Vested
alkami@fullyvested.com
Marla Pieton
marla.pieton@alkami.com
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SOURCE Alkami Technology, Inc.