PLANO, Texas - Alkami Technology, Inc. (NASDAQ: ALKT), a $3.52 billion market cap provider of cloud-based digital banking solutions showing impressive revenue growth of 26.7% over the last twelve months, has launched the Business Banking Digital Maturity Assessment, a tool aimed at helping financial institutions such as banks and credit unions evaluate and enhance their digital strategies in business banking. According to InvestingPro data, the company maintains a healthy gross profit margin of 58.1%, demonstrating strong operational efficiency in its core business. This new offering is the result of a comprehensive study conducted in collaboration with Emerald Research Group and financial services influencer Jim Marous.
The assessment is designed to assist institutions in gauging their digital capabilities and identifying areas for improvement to meet the evolving demands of business clients. By completing the assessment, financial institutions can benchmark themselves against a research baseline, be categorized into one of four levels of digital maturity, and receive tailored recommendations to progress their digital transformation efforts.
Alkami’s research, which surveyed 150 digital decision makers from U.S. financial institutions, emphasizes the importance of integrating culture, strategy, and technology to gain a sustainable competitive edge. "The results of the assessment can be used by financial institutions to take decisive steps in elevating their business banking strategies," said Allison Cerra, chief marketing officer at Alkami.
The assessment covers various dimensions including payments, data and marketing capabilities, digital account creation, subuser management, and integration with accounting and ERP systems. Jim Marous highlighted that digital maturity is now a critical factor for business success, with leaders distinguished not just by their technology but by their comprehensive approach to digital banking. While currently trading near its 52-week high of $42.29, InvestingPro analysis reveals 6 additional key insights about Alkami’s financial health and market position, available to subscribers.
Alkami’s tool is freely available to all financial institutions seeking to assess and improve their digital services. The company, which provides a range of solutions including retail and business banking, digital account opening, and payment security, has also been recognized by J.D. Power for its exceptional mobile banking platform experience.
This initiative reflects the increasing necessity for financial institutions to innovate and provide seamless digital experiences to their business customers. With analysts predicting profitability this year and a strong current ratio of 3.52, Alkami appears well-positioned for future growth. The information for this article is based on a press release statement from Alkami Technology, Inc. For a comprehensive analysis of Alkami’s financial health and growth prospects, access the detailed Pro Research Report available on InvestingPro, offering expert insights on this and 1,400+ other US stocks.
In other recent news, Alkami Technology, Inc. announced the initiation of a secondary offering of 7.5 million shares of common stock, with the proceeds going entirely to the selling stockholders. This move follows the company’s strong Q3 financial performance, where it reported a 27% increase in revenue to $85.9 million and an adjusted EBITDA of $8.3 million, exceeding expectations. In response to these developments, KeyBanc Capital Markets raised its price target for Alkami Technology to $45, maintaining an Overweight rating. The company also reported nine new digital banking wins and secured 14 renewals, indicating strong demand for its services. For Q4 2024, Alkami Technology forecasts revenue between $89 million and $90 million, with full-year guidance of $333.2 million to $334.2 million. Despite a favorable environment for mergers and acquisitions, the company has not made any recent acquisitions. Alkami’s data technology is increasingly seen as a market differentiator, with over 70% of new client wins in 2024 incorporating data and marketing products. These are the latest developments for Alkami Technology, Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.