Alkami Technology partners with Plaid

Following this partnership, the financial institution clients and customers of Alkami will be enabled to benefit from direct application programming interface (API) access to Plaid, via Core Exchange. 

In addition, they will be allowed to facilitate secure and efficient connectivity to their end users’ digital financial ecosystem. By using the FDX-aligned API, Alkami’s clients will be given the possibility to provide a reliable and consistent user experience for their end account holders as well, as they will be allowed to connect and link their financial accounts via Alkami. At the same time, end users will also benefit from a highly secure API connection, as well as reduced friction, which aims to lower the call center volume.

Alkami’s recent strategy of development

Cloud-based digital banking solutions provider for financial institutions in the United States, Alkami enables customers and clients to develop in a secure and effective manner, adapt quickly to the ever-evolving market, as well as build digital communities. The company had multiple collaborations and product launches in the last couple of months, covering several different geographic areas around the world. 

At the beginning of September 2023, the company announced its partnership with Atomic in order to provide a direct deposit switch service to US-based financial institutions, which enabled account holders with secure and efficient payroll account connections. As part of the strategic deal, Atomic was set to integrate its direct deposit switch solution into Alkami’s Digital Banking platform. 

This was set to make it easier for community and regional financial institutions and banks to provide their account holders with a quick and convenient way to set up and switch direct deposits, in order to further accelerate the process of growing direct deposits, account acquisitions, as well as primary relationships. At the same time, this optimisation was set to eliminate paper processes, significantly decrease wait times that often incur with traditional methods, and reduce the cost of deposit acquisitions. 

Earlier in August 2023, the digital conversations platform Eltropy announced its partnership with Alkami in order to improve the manner in which financial institutions and banks develop digital engagement with account holders through the use of multiple channels. Following this collaboration, the two companies were set to enable FIs to design personalised account-holder experiences for every interaction, through any of their communication channels.