Texas-based fintech Alkami is seeing its network of bank partners grow. 

“In the third quarter, we signed nine new digital banking clients, including six credit unions and three banks,” Alex Shootman, chief executive at Alkami, said during the fintech’s Q3 earnings call on Oct. 30. “We also renewed 14 clients, with several clients extending to 2031 and adding an additional seven products to their portfolios.” 

The company’s revenue increased 27% year over year to $85.9 million and the number of registered users of its digital banking platform increased 15% YoY to 19.5 million, according to its earnings supplement. 

November deals 

Alkami announced today that $3.6 billion Gate City Bank, based in Fargo, N.D., is implementing all of Alkami’s digital portfolio. 

The bank will use the fintech’s solutions, according to an Alkami spokesperson, to drive growth for its retail and business customers with: 

• Alkami’s Positive Pay and ACH Reporting to monitor for fraud;  

• Digital account opening capabilities; 

• Data analytics; and 

• Mobile banking features. 

The fintech was also tapped by $1.7 billion Kemba Credit Union to provide digital banking solutions for retail and business customers, Alkami announced Nov. 7. 

The Cincinnati-based credit union selected Alkami to drive growth in: 

• New deposit accounts; 

• Cross-selling opportunities; and 

• Strengthening customer loyalty with more intuitive banking tools. 

“Providing members with a strong and secure digital banking solution is a requirement to remain relevant in the financial landscape when competing with large banks and fintechs,” Dan Sutton, president and chief executive at Kemba Credit Union, told Bank Automation News following the announcement. 

Q3 wins 

Other recent Alkami partnerships include: 

• $716 million Nutmeg State Financial Credit Union announced in October that it will use Alkami’s digital payment solutions, data and analytics metrics and instant loans. “The enhanced metrics allow the credit union to understand member behavior and provide key insights for new avenues to improve the personalized member experience,” an Alkami spokesperson told BAN. 

• $6 billion Intrepid Credit Union went live with Alkami’s digital banking platform in September and has since launched its data analytics automation solution; and 

• $19 billion Mountain America Credit Union in July agreed to a five-year extension of its contract with Alkami for its digital banking platform and data and marketing solutions. 

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