Following this announcement, Alkami is expected to fund the acquisition with cash of approximately USD 380 million and restricted stock units issued to continuing MANTL employees with an estimated value of USD 13 million at transaction closing. This process will happen in replacement for unvested compensatory stock options.
MANTL, combined with Alkami’s Digital Banking and Data & Marketing Solutions, is set to develop a digital sales and services platform for financial institutions. In addition, the companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Through this initiative, Alkami will further solidify its position as a secure and efficient digital sales and service platform in the industry, offering financial institutions the possibility to onboard, engage, and grow their account base. At the same time, Alkami will provide its data and marketing capabilities, data tags, and multiple AI predictive models trained on analysing several transactions to improve cross-selling efforts, reduce churn, and increase revenue.
In addition, MANTL will address one of the concerns of financial institutions, focusing on onboarding new customers with speed, security, and efficiency while also deepening share-of-wallet with already existing clients. The integration is set to design an opportunity for Alkami to expand market share and generate cross-selling within its user base as well.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now